Spotswood is a compact suburb in Victoria within the Hobsons Bay local government area (postcode 3015). The area has roughly 2,820 residents and a blend of families and working-age professionals, with a median age of 37. Households earn a median income of $128K per year, with an average household size of 2.6 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.8% 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 healthcare and professional services. The top ancestries reported are English, Australian, Irish.
The median house price in Spotswood is $1.1 million, having ticked up by 1.8% over the past year. Units have a median price of $570,000 (-20.3% YoY). The current median weekly rent is $620. This gives a gross rental yield of approximately 2.9%. The median monthly mortgage repayment is $2,300.
Spotswood is served by 2 schools, including 2 primary. The average ICSEA score is 1120, which is well above the national average of 1,000. Public transport access includes 1 rail station, 15 bus stops. The crime rate in the Hobsons Bay LGA is higher than average at 8,123 incidents per 100,000 population.
Looking at the investment signals, Spotswood shows a gross rental yield of approximately 2.9%, rated as low yield. Property prices are near the state median ($1.1M/$875K). The price-to-income ratio of 8.8x is considered moderate. House prices have moved +1.8% year-on-year. Population growth of +1.8% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.