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Patterson Lakes

POSTAL CODE: VIC, 3197
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Based on its average 5-year and quarterly capital gains PATTERSON LAKES, 3197 saw average growth in the long term.

A survey of average capital gains or median home price increase in suburbs across the country shows that PATTERSON LAKES, 3197 obtained a 5.94% growth over a ten-year period. It ranks 2767th on our list of suburbs that property investors should look into.

PATTERSON LAKES, 3197 in VIC belongs to the local government area of Kingston (Vic.).

PATTERSON LAKES, 3197 has a capital gain of 12.86% for the past year, which is higher than average compared to its 27.7% growth within a five-year period.

With the median home price in PATTERSON LAKES sitting at $1,360,000, and the average rent at $750, property owners could potentially earn a 2.87% increase in gross rental yield.

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

Surburb overview

Patterson Lakes is a waterside suburb in Melbourne, located about 35 kilometres south-east of the central business district within the City of Kingston. It is situated around a network of artificial canals connected to the Patterson River and Port Phillip, making it one of Melbourne’s few canal-based residential developments.

The suburb has a population of approximately 8,000 residents, with a demographic profile that includes families, professionals and retirees drawn to its waterfront lifestyle. A mix of detached dwellings characterises the housing, many with direct water access, alongside townhouses and some low-rise apartment complexes.

Public transport access is available via nearby Carrum and Bonbeach railway stations on the Frankston line, providing connections to Melbourne’s CBD. Bus services operate through the suburb, linking residents to surrounding areas. Road access is supported by the Nepean Highway and EastLink, facilitating travel across the south-east corridor.

Local retail and commercial activity is centred around the Patterson Lakes shopping precinct, which includes supermarkets, cafes and essential services. Additional amenities are accessible in nearby suburbs such as Carrum and Chelsea.

Recreational opportunities in Patterson Lakes are strongly linked to its waterways. The canal system and Patterson River support boating, kayaking and fishing, with marina facilities and boat ramps available.

The suburb is also close to the Edithvale-Seaford Wetlands, which provide walking trails and support native wildlife. Nearby coastal areas, including Carrum Beach, offer further options for swimming and outdoor activity.

Patterson Lakes was developed primarily in the 1970s and 1980s as a planned residential community, and its layout reflects engineered waterways and flood management infrastructure. Ongoing planning considerations focus on maintaining water quality, managing environmental risks and supporting residential amenity.

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