Viewbank

POSTAL CODE: VIC, 3084

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a -1.81% capital gain.

It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $1,193,000

The augmented property values in the suburb are trailing behind the territorial average of 2.91% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $695.

Home owners selling their properties and realtors in VIEWBANK usually have to wait an average of 36.9 days days before their assets are lifted off the market.

The VIC suburb ranks 411th on the list of best yielding suburbs for rental properties in VIC, posting a 3.03% return.

It also places places 510th in Australia based on median property value growth during the quarter.

Property investors enjoyed capital gains of 15.03% over the last 12 months in VIEWBANK, translating to lower returns compared with its peers in VIC.

A survey of average capital gains or median home price increase in suburbs across the country shows that VIEWBANK, 3084 obtained a 7.68% growth over a ten-year period. It ranks 360th on our list of suburbs that property investors should look into.

VIEWBANK, 3084 has a capital gain of 15.03% for the past year, which is higher than average compared to its 0% growth within a five-year period.

With the median home price in VIEWBANK sitting at $880,000, and the average rent at $650, property owners could potentially earn a 3.84% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in VIEWBANK are low, as opposed to average gains per annum over the past five years.

VIEWBANK, 3084 in VIC belongs to the local government area of Banyule.

Surburb overview

Viewbank is a suburb of the City of Banyule, located approximately 14 kilometres northeast of Melbourne's Central Business District. According to the 2021 Census, it has 7,030 residents, with a median age of 43. The community predominantly comprises families, with couples with children being the most common household structure.

Public transportation in Viewbank has bus routes that connect residents to nearby train stations, including Rosanna Station on the Hurstbridge line. While there is no train station within Viewbank, these bus services facilitate access to Melbourne's broader public transport network.

Essential amenities in Viewbank include well-regarded educational institutions such as Viewbank Primary School and Viewbank College. The suburb has a small commercial strip on Martins Lane, which provides local shopping options. For more extensive retail and dining experiences, residents often visit nearby centres in Heidelberg and Rosanna.

Recreational opportunities are abundant, with significant green spaces like the Banyule Flats Reserve, which encompasses over 46 acres of wetlands and is considered the most extensive grassy woodland in inner Melbourne. Other parks, such as Price Park and Viewbank Reserve, offer additional outdoor activities, including walking and cycling trails.

Separate houses characterise Viewbank's housing market. The median property price is approximately $1.2 million. The area is known as General Residential, reflecting its established suburban nature.

Viewbank is a family-oriented suburb emphasising community, education, and natural surroundings.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,193,000	$880,000
Growth Report
Median Quarterly	0.25%	-1.12%
Median 12 month	-1.4%	15.03%
Median 3 years	-1.81%	17.73%
Median 5 years	21.12%	0%
10 years average annual	4.06%	7.68%
Weekly media advert. rent	$695	$650
Time on Market	36.9 days	82.1 days
Gross Rental Yield Percent	3.03%	3.84%

Demographics (Median Values)*

Total Population 25517

Weekly Household Income 1813

Household Size 2.60

Average Age 41

Monthly Loan Repayment 2058

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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