Pascoe Vale is close to the Central Business District being only 9 kilometers away. It is part of the City of Moreland local government area with a population of 9,553 as of 2011. It was part of the original estate of John Pascoe Fawkner.
The suburb is known as a family residential area with house ownership at 54 percent. It is also less culturally diverse compared to other suburbs in Melbourne.
Those looking to move to this suburb can find affordable homes as house prices here start from $305,000 (3-bedroom house) as of May 2015.
Also in May, 26 properties were available for sale and 22 properties were available for rent. In the past year, a total of 135 houses were sold. The highest paid price for houses over the past year was $1,450,000 and $470,000 for units. The lowest price was $225,000.
Those who want to rent initially can also do so in Pascoe Vale South. The average rent for a house per week is $385 while the rent for units is $380 per week.
When it comes to auction, the clearance rate for houses was 70.2 percent and 75 percent for units.
For the past five years, Pascoe Vale South recorded a high yearly capital growth for houses at 28.62 percent and 29.99 percent for units. The long term growth trend for houses is at 6.1 percent and 6.6 percent for units.
Dwelling structures vary in Pascoe Vale although majority or 75.6 percent is the separate house type. The others are flats and semi-attached/terrace. Some 44.4 percent of homes in the suburb are fully owned while 22 percent are being rented.
Many residents in the suburb are those in the 20 to 39 age group (29 percent) and those in the 40-59 age bracket (25 percent) and seniors (22 percent).
Looking to buy in Melbourne and sick of missing out at auction? Talk to me about how I can help you buy your new home faster, for less. Give me a call on 03 9686 2288 to discuss how I can help. I offer a free consultation, so why not call today?
By Wendy Chamberlain
Copyright 2015 | All Rights Reserved
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With a passion for all things real estate spanning 18 years, Wendy loves that her role as a
