Pascoe Vale is an established suburb in Victoria within the Moreland local government area (postcode 3044). With a population of 18,171, the suburb has a mix of families and early-career residents with a median age of 36. Households earn a median income of $105K per year, with an average household size of 2.4 people. 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 healthcare and professional services. The top ancestries reported are Australian, English, Italian.
The median house price in Pascoe Vale is $1.1 million, having increased by 5% over the past year. Units have a median price of $610,000 (-3.2% YoY). The current median weekly rent is $550. This gives a gross rental yield of approximately 2.6%. The median monthly mortgage repayment is $2,100.
Pascoe Vale is served by 5 schools, including 4 primary, 1 secondary. The average ICSEA score is 1048, which is around the national average of 1,000. Public transport access includes 3 rail stations, 67 bus stops. Healthcare facilities include 1 private hospital.
Looking at the investment signals, The gross rental yield works out to roughly 2.6%, which reads as low yield. Property prices are near the state median ($1.1M/$875K). The price-to-income ratio of 10.4x is considered stretched. House prices have moved +5.0% year-on-year.