Park Orchards is a smaller residential area in Victoria within the Manningham local government area (postcode 3114). It is home to about 3,835 residents, with an older-leaning population and a median age of 45. Households earn a median income of $164K per year, with an average household size of 3.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.2% 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, managers, clerical & administrative. Employment in the area leans toward construction and healthcare. The top ancestries reported are English, Australian, Irish.
Median house prices in Park Orchards stand at $1.9 million, having risen steeply by 11.3% over the last twelve months. The current median weekly rent is $680. This gives a gross rental yield of approximately 1.8%. The median monthly mortgage repayment is $3,000.
Park Orchards is served by 2 schools, including 2 primary. The average ICSEA score is 1119, which is well above the national average of 1,000. Public transport access includes 25 bus stops. The crime rate in the Manningham LGA is below average at 3,807 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 1.8%, which reads as low yield. Property prices are above the state median ($1.9M/$875K), placing it in the premium segment. The price-to-income ratio of 11.8x is considered stretched. House prices have moved +11.3% year-on-year. Population growth of +1.2% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.