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Springvale

POSTAL CODE: VIC, 3171
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Property investors enjoyed capital gains of 10.15% over the last 12 months in SPRINGVALE, 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 the VIC suburb obtained a 4.45% growth over a ten-year period. It ranks 3326th on our list of suburbs that property investors should look into.

SPRINGVALE, 3171 has a capital gain of 10.15% for the past year, which is higher than average compared to its 21.16% growth within a five-year period.

With the median home price in SPRINGVALE sitting at $939,000, and the average rent at $580, property owners could potentially earn a 3.21% increase in gross rental yield.

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

SPRINGVALE, 3171 in VIC belongs to the local government area of Greater Dandenong.

Surburb overview

Springvale is a middle-ring suburb in Melbourne’s south-east, located within the City of Greater Dandenong. The suburb is situated approximately 22 kilometres south-east of the Melbourne central business district and is bordered by Noble Park, Springvale South, Mulgrave and Clayton South.

Springvale recorded a population of around 23,000 residents at the 2021 census, reflecting its role as a significant residential and commercial centre within the municipality. The demographic profile is highly diverse, with a large proportion of residents born overseas and a strong representation from South-East Asian communities.

Household sizes are generally larger than the metropolitan average, and multigenerational living is relatively standard. Housing in Springvale is varied, comprising detached houses, townhouses and an increasing number of low- and mid-rise apartment developments. Higher-density housing is concentrated near the town centre, railway station and major transport corridors.

Public transport access is a defining feature, with Springvale railway station located on the Pakenham and Cranbourne lines. The station provides frequent train services to the Melbourne CBD and the south-eastern suburbs, supporting significant commuter and visitor movement.  An extensive bus network operates through Springvale, linking residential areas with surrounding suburbs, employment precincts and shopping centres. Road connectivity is supported by Springvale Road, Princes Highway and Centre Road, facilitating east–west and north–south travel but contributing to peak-hour congestion.

Springvale’s town centre is a significant hub of activity, featuring a dense concentration of supermarkets, fresh food markets, restaurants, cafés and specialty retailers. The retail precinct serves a wide catchment and is a key destination for food, dining and cultural commerce across Melbourne’s south-east.

Medical clinics, professional services and community facilities are integrated throughout the centre and surrounding streets. Educational facilities in and around Springvale include several primary and secondary schools serving the local community. Tertiary education and training institutions are accessible in nearby suburbs, including Monash University and TAFE campuses.

Recreational amenities include local parks and sporting reserves, as well as proximity to Sandown Racecourse, which provides open space and event facilities. Shared walking and cycling paths connect neighbourhoods to surrounding suburbs and green corridors.

Employment among residents spans retail, hospitality, manufacturing, health care, education and professional services, with many working locally. Springvale’s identity is shaped by its strong public transport access, cultural diversity and role as a significant commercial and residential centre within Melbourne’s south-east.

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