Greenvale (postcode 3059) is a large suburb in Victoria within the Hume local government area. With a population of 21,274, the suburb has a blend of families and working-age professionals with a median age of 35. Households earn a median income of $118K per year, with an average household size of 3.2 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +3.0% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, clerical & administrative, managers. Employment in the area leans toward construction and healthcare. The top ancestries reported are Italian, Australian, English.
Median house prices in Greenvale stand at $798,000, having dropped significantly by 8.3% over the last twelve months. Units have a median price of $525,000 (-12.5% YoY). The current median weekly rent is $525. This gives a gross rental yield of approximately 3.4%. The median monthly mortgage repayment is $2,167.
Greenvale is served by 7 schools, including 4 primary, 2 secondary, 1 combined. The average ICSEA score is 1039, which is around the national average of 1,000. Public transport access includes 78 bus stops. The crime rate in the Hume LGA is higher than average at 8,365 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 3.4%, which reads as moderate yield. Property prices are near the state median ($798K/$875K). The price-to-income ratio of 6.8x is considered moderate. House prices have moved -8.3% year-on-year. Population growth of +3.0% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.