Patterson Lakes is a mid-sized suburb in Victoria within the Kingston (Vic.) local government area (postcode 3197). It is home to about 7,793 residents, with an older-leaning population and a median age of 46. Households earn a median income of $100K per year, with an average household size of 2.5 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 construction and healthcare. The top ancestries reported are English, Australian, Irish.
The median house price in Patterson Lakes is $1.4 million, broadly unchanged over the past year. Units have a median price of $699,000 (+9.1% YoY). The current median weekly rent is $600. This gives a gross rental yield of approximately 2.3%. The median monthly mortgage repayment is $2,100.
Patterson Lakes is served by 1 school, including 1 primary. The average ICSEA score is 1061, which is above the national average of 1,000. Public transport access includes 29 bus stops. The crime rate in the Kingston (Vic.) LGA is moderate at 7,320 incidents per 100,000 population.
From an investment perspective, Patterson Lakes shows a gross rental yield of approximately 2.3%, rated as low yield. Property prices are above the state median ($1.4M/$875K), placing it in the premium segment. The price-to-income ratio of 13.8x is considered stretched. House prices have moved -0.2% year-on-year.