Parkville is a mid-sized suburb in Victoria within the Melbourne local government area (postcode 3052). With a population of 7,074, the suburb has a young professional demographic with a median age of 26. Households earn a median income of $98K per year, with an average household size of 2.1 people. The most common occupations are professionals, community & personal service, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Parkville is $1.7 million, having dropped significantly 29.9% over the past year. Units have a median price of $520,000 (-1% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 1.7%. The median monthly mortgage repayment is $2,000.
Parkville is served by 2 schools, including 1 secondary, 1 special. The average ICSEA score is 1117, which is well above the national average of 1,000. Public transport access includes 7 rail stations, 41 bus stops. Healthcare facilities include 2 public hospitals. The crime rate in the Melbourne LGA is higher than average at 23,998 incidents per 100,000 population.
From an investment perspective, Parkville offers a gross rental yield of 1.7%, rated as low yield. Property prices are above the state median ($1.7M/$875K), placing it in the premium segment. The price-to-income ratio of 17.8x is considered stretched. House prices have moved -29.9% year-on-year.
Parkville is a mid-sized suburb in Victoria within the Melbourne local government area (postcode 3052). With a population of 7,074, the suburb has a young professional demographic with a median age of 26. Households earn a median income of $98K per year, with an average household size of 2.1 people. The most common occupations are professionals, community & personal service, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Parkville is $1.7 million, having dropped significantly 29.9% over the past year. Units have a median price of $520,000 (-1% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 1.7%. The median monthly mortgage repayment is $2,000.
Parkville is served by 2 schools, including 1 secondary, 1 special. The average ICSEA score is 1117, which is well above the national average of 1,000. Public transport access includes 7 rail stations, 41 bus stops. Healthcare facilities include 2 public hospitals. The crime rate in the Melbourne LGA is higher than average at 23,998 incidents per 100,000 population.
From an investment perspective, Parkville offers a gross rental yield of 1.7%, rated as low yield. Property prices are above the state median ($1.7M/$875K), placing it in the premium segment. The price-to-income ratio of 17.8x is considered stretched. House prices have moved -29.9% year-on-year.