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Real Estate Market: Is Greenvale (Vic.) VIC 3059 a Good Suburb to Buy Into?
Housing Market in Greenvale (Vic.)
Sources: Property Listings and Microburbs, 2002 - 2023
| Field | Value | VS Melbourne | Trend | |
|---|---|---|---|---|
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| $633 | Top 38% |
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Housing Supply in Greenvale (Vic.)
The higher the supply score the more supply is on the market, both current and future.
Sources: ABS, GEOSPATIAL, Property Listings, PLANNING ALERTS and Microburbs, 2002 - 2023
Sources: ABS, GEOSPATIAL, Property Listings, PLANNING ALERTS and Microburbs, 2002 - 2023
Greenvale (Vic.)
26.0%
Greenvale (Vic.)
26.0%
Melbourne
28.8%
Melbourne
28.8%
| Field | Value | VS Melbourne | Trend | |
|---|---|---|---|---|
| 97 | Top 18% |
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| 0.3 | Bottom 25% | Data for Jul 2023 | ||
| 59.6 | Top 11% | Data for May 2023 | ||
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| 84 lots | Top 3% |
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| 84 | Top 1% |
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Housing Stock Quality in Greenvale (Vic.)
The higher the score, the higher the quality of the houses and units.
Sources: ABS, GEOSPATIAL, Property Listings and Microburbs, 2006 - 2023
Sources: ABS, GEOSPATIAL, Property Listings and Microburbs, 2006 - 2023
| Field | Value | VS Melbourne | Trend | |
|---|---|---|---|---|
| 97.0% | Bottom 31% |
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| 3.2 | Top 6% |
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| 27.5% | Top 11% | Data for Jun 2023 |
Development Restrictions in Greenvale (Vic.)
The higher the score, the more easily density can be increased.
Sources: GEOSPATIAL, TORREN, ABS and Microburbs, 2011 - 2023
Sources: GEOSPATIAL, TORREN, ABS and Microburbs, 2011 - 2023
Greenvale (Vic.)
32.9%
Greenvale (Vic.)
32.9%
Melbourne
36.9%
Melbourne
36.9%
| Field | Value | VS Melbourne | Trend | |
|---|---|---|---|---|
| 18.0 sq km | Top 37% | Data for Jan 2021 | ||
| 3.5 sq km | Top 3% | Data for Jun 2023 | ||
| 995 sqm per resident | Bottom 44% | Data for Jan 2021 |
Risk in Greenvale (Vic.)
The higher the score, the more exposed households are to financial stress.
Sources: ABS, Property Listings, TORREN and Microburbs, 2006 - 2023
Sources: ABS, Property Listings, TORREN and Microburbs, 2006 - 2023
Greenvale (Vic.)
59.2%
Greenvale (Vic.)
59.2%
Melbourne
60.4%
Melbourne
60.4%
| Field | Value | VS Melbourne | Trend | |
|---|---|---|---|---|
| 89.1% | Bottom 39% |
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| 10.9% | Top 39% |
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| 40 | Top 29% | Data for Jun 2023 | ||
| $3,030 | Top 10% |
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| 81 | Top 30% | Data for Jun 2023 | ||
| 77 | Top 46% | Data for Jun 2023 | ||
| 22.0% | Bottom 48% |
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| 61.0% | Top 6% |
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Housing Demand in Greenvale (Vic.)
The higher the score, the more demand their is for housing in the area, both current and future.
Sources: ABS, TORREN, Property Listings and Microburbs, 1975 - 2030
Sources: ABS, TORREN, Property Listings and Microburbs, 1975 - 2030
Greenvale (Vic.)
82.9%
Greenvale (Vic.)
82.9%
Melbourne
82.9%
Melbourne
82.9%
| Field | Value | VS Melbourne | Trend | |
|---|---|---|---|---|
| Premium | Premium | Premium | ||
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| 36800 | Top 1% |
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| 221000 | Top 2% |
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| 324000 | Top 2% |
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Unit Market in Greenvale (Vic.)
Sources: Property Listings and Microburbs, 2002 - 2023
| Field | Value | VS Melbourne | Trend | |
|---|---|---|---|---|
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| $492 | Top 48% |
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| 65.6% | Bottom 35% |
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Median House Rental Prices by Street (75)
| Street | Date | Median rent (per week) |
|---|---|---|
| Frontier Ave | 22 Mar 2025 | $580 |
| Flourish Cct | 22 Mar 2025 | $837 |
| Fluent Ln | 22 Mar 2025 | $525 |
| Greenhaven Dr | 22 Mar 2025 | $690 |
| Edara Cct | 22 Mar 2025 | $720 |
Median House Sale Prices by Street (100)
| Street | Date | Median sale value |
|---|---|---|
| Naxos Rd | 10 May 2024 | $888,800 |
| Myoora Cr | 10 May 2024 | $1,100,000 |
| Nicholson Ct | 10 May 2024 | $1,035,000 |
| Normanby Dr | 10 May 2024 | $1,900,000 |
| Orienteering Dr | 10 May 2024 | $940,000 |
Turnover Rate by Street (100)
| Turnover rate | Street | Turnover Label | Turnover Years | Year |
|---|---|---|---|---|
| 40.0% | Greenock Ct | very tightly held | Every 25.0 years (very tightly held) | 2025 |
| 56.4% | Helmsdale Cr | quite tightly held | Every 17.7 years (quite tightly held) | 2025 |
| 71.0% | Fraserburgh Cr | average turnover | Every 14.1 years (average turnover) | 2025 |
| 70.8% | Taormina St | average turnover | Every 14.1 years (average turnover) | 2025 |
| 190.3% | Crestwood Rd | very high turnover | Every 5.3 years (very high turnover) | 2025 |
Median Unit Sale Prices by Street (100)
| Date | Median sale value | Street |
|---|---|---|
| 10 May 2024 | $401,000 | Carroll Ln |
| 10 May 2024 | $725,000 | Lynton Ct |
| 10 May 2024 | $370,000 | Mattina Cct |
| 10 May 2024 | $10,500,000 | Mickleham Rd |
| 10 May 2024 | $444,500 | Pebble St |
LGA Details (1)
| Headline | Place | Datetime |
|---|---|---|
| Local government area | Hume |
Percent of Renters by Street (100)
| Percent of Renters | Street |
|---|---|
| 13.9% | Abbey Ally |
| 21.5% | Aberdeen Ave |
| 6.9% | Arbroath Ct |
| 0.0% | Addai St |
| 28.8% | Arkley Dr |
Planning Applications: Other (45)
| Headline | Place | Date |
|---|---|---|
| Proposed shade structure to be provided on an existing secondary school - Hume City Council P26541 | 1010 Mickleham Rd Greenvale VIC 3059 | 07 Mar 2025 |
| Our client seeks to subdivide land being Lot B on Plan of Subdivision 812005N into 18 residential lots across two stages, with Stage 1 comprising 16 lots and Stage 2 comprising 2 lots. Staging of the subdivision is proposed as the developer seeks to retain ownership of the 2 lots at this time. As Council is likely aware, the development approved under Planning Permit P22880 has now been completed and Certificate of Occupancy has since been issued on 4 February 2025. The proposed subdivision is therefore purely administrative to formalise the creation of a lot for each dwelling. The subject site is zoned Urban Growth Zone – Schedule 6 ‘Greenvale Central Precinct Structure Plan’ (UGZ6), pursuant to the Hume Planning Scheme. The subject site is nominated as forming part of the local convenience centre in the Precinct Structure Plan. As such, the site is subject to the applied zone provisions of the Commercial 1 Zone as outlined in both the PSP and UGZ6, unless there are specific provisions listed in the UGZ6 schedule. There are no specific provisions set out by the UGZ6 in relation to subdivision. Under Clause 34.01-3 (C1Z), the proposed subdivision is eligible for VicSmart as it meets the following eligibility criteria: • The buildings and car parking spaces have been constructed in accordance with the Planning Permit P22880 issued on 29 July 2020. • An occupancy permit has been issued on 4 February 2025. Please see attached. We also note that site services have already been connected, and compliance granted as evidenced by the issue of the occupancy permit. Pursuant to Clause 66.01, a referral is therefore not required for the subdivision, as the existing building is already connected to services. The proposed subdivision meets the VicSmart decision guidelines of Clause 59.02-2, in that: • The subdivision is consistent with the development permit P22880, and seeks to formalise the creation of a lot for each dwelling. • Each new lot will contain an existing building and car parking. Waste storage and vegetation are matters that have already been considered as part of the development approval. • Site services have now been connected to each dwelling. - Streamlined Planning through Electronic Applications and Referrals S245269E | 2 Brendan Road, Greenvale VIC 3059 | 06 Mar 2025 |
| Use of the land for child care centre, service station, medical centre and shops, associated buildings and works, removal of native vegetation, removal of easement e1, erect signage and illuminated business identification signs and a 3 lot subdivision of the land - Hume City Council P20621.06 | 670 Somerton Rd Greenvale VIC 3059 | 27 Feb 2025 |
| Use of land for the purpose of shop (convenience shop & pharmacy) service station and restricted recreational facility (gym), buildings & works, associated signage, removal of easement - Hume City Council P23425.02 | 680 Somerton Rd Greenvale VIC 3059 | 17 Jan 2025 |
| REMOVAL OF RESERVE STATUS - PS 919295E - Department of Transport and Planning - Hume City Council P26403 | 39A Malkari Cct Greenvale VIC 3059 | 16 Dec 2024 |
Planning Applications: Dwellings (55)
| Headline | Place | Date |
|---|---|---|
| Our client seeks to subdivide land being Lot B on Plan of Subdivision 812005N into 18 residential lots across two stages, with Stage 1 comprising 16 lots and Stage 2 comprising 2 lots. Staging of the subdivision is proposed as the developer seeks to retain ownership of the 2 lots at this time. As Council is likely aware, the development approved under Planning Permit P22880 has now been completed and Certificate of Occupancy has since been issued on 4 February 2025. The proposed subdivision is therefore purely administrative to formalise the creation of a lot for each dwelling. The subject site is zoned Urban Growth Zone – Schedule 6 ‘Greenvale Central Precinct Structure Plan’ (UGZ6), pursuant to the Hume Planning Scheme. The subject site is nominated as forming part of the local convenience centre in the Precinct Structure Plan. As such, the site is subject to the applied zone provisions of the Commercial 1 Zone as outlined in both the PSP and UGZ6, unless there are specific provisions listed in the UGZ6 schedule. There are no specific provisions set out by the UGZ6 in relation to subdivision. Under Clause 34.01-3 (C1Z), the proposed subdivision is eligible for VicSmart as it meets the following eligibility criteria: • The buildings and car parking spaces have been constructed in accordance with the Planning Permit P22880 issued on 29 July 2020. • An occupancy permit has been issued on 4 February 2025. Please see attached. We also note that site services have already been connected, and compliance granted as evidenced by the issue of the occupancy permit. Pursuant to Clause 66.01, a referral is therefore not required for the subdivision, as the existing building is already connected to services. The proposed subdivision meets the VicSmart decision guidelines of Clause 59.02-2, in that: • The subdivision is consistent with the development permit P22880, and seeks to formalise the creation of a lot for each dwelling. • Each new lot will contain an existing building and car parking. Waste storage and vegetation are matters that have already been considered as part of the development approval. • Site services have now been connected to each dwelling. - Streamlined Planning through Electronic Applications and Referrals S245269E | 2 Brendan Road, Greenvale VIC 3059 | 06 Mar 2025 |
| TWO (2) LOT SUBDIVISION - Subdivision is to create two vacant residential allotments VARIATION OF RESTRICTIVE COVENANT (INSTRUMENT NO. T014446L). Covenant variation (of restriction 7) is required for proposed subdivision to proceed - Hume City Council P26488 | 70 Normanby Dr Greenvale VIC 3059 | 18 Feb 2025 |
| 2 Lot Subdivision of townhouses under construction side by side - Streamlined Planning through Electronic Applications and Referrals S241633M | 17 Adderley Drive, Greenvale VIC 3059 | 14 Dec 2024 |
| Development of the land for a dwelling in the bushfire management overlay - Hume City Council P26303 | 15 Alyssa St Greenvale VIC 3059 | 21 Oct 2024 |
| 2 Lot subdivision in accordance with development permit P25836 Subdivision is sought prior to construction works supported by a section 173 agreement - Streamlined Planning through Electronic Applications and Referrals S238294M | 8 Montrose Court, Greenvale VIC 3059 | 11 Oct 2024 |
Recently Sold Houses (100)
| Address | Price | Bedrooms | Bathrooms | Garage spaces | Date sold | Subdivisible into | Sale Type |
|---|---|---|---|---|---|---|---|
| 46 Navigation Rd | $663,500 | 0.0 | 0.0 | 0.0 | 20 Mar 2025 | 0 | On Market |
| 32 Frontier Ave | $786,500 | 3.0 | 2.0 | 4.0 | 19 Mar 2025 | 0 | On Market |
| 32 Frontier Ave | Price Withheld | 3.0 | 2.0 | 4.0 | 19 Mar 2025 | 0 | On Market |
| 1 Alderbark Way | $900,000 | 4.0 | 2.0 | 2.0 | 18 Mar 2025 | 0 | On Market |
| 3 Marquee Circuit | $717,500 | 4.0 | 2.0 | 2.0 | 15 Mar 2025 | 0 | On Market |
Businesses (82)
| Name | Address |
|---|---|
| Ideal Constructions PTY Ltd. | 7 Haddington Cres, Greenvale VIC 3059, Australia |
| JAL Construction PTY Ltd. | 7 Gainford Ct, Greenvale VIC 3059, Australia |
| Manhattan Constructions PTY Ltd. | 5 Manhattan Ct, Greenvale VIC 3059, Australia |
| White Circle Tanks | 10 Jedburgh Pl, Greenvale VIC 3059, Australia |
| Sound Excavations | 85 Hillview Rd, Greenvale VIC 3059, Australia |
Recent Rental Unit Listings (100)
| Address | Rent (per week) | Bedrooms | Bathrooms | Garage spaces | Date |
|---|---|---|---|---|---|
| 15 Arramont Rd | $6,202,694 | 3.0 | 2.0 | 2.0 | 12 Dec 2024 |
| 15 Arramont Rd | $6,202,694 | 3.0 | 2.0 | 2.0 | 12 Dec 2024 |
| 15 Arramont Rd | $6,202,694 | 3.0 | 2.0 | 2.0 | 12 Dec 2024 |
| 15 Arramont Rd | $6,202,694 | 3.0 | 2.0 | 2.0 | 12 Dec 2024 |
| 15 Arramont Rd | $6,202,694 | 3.0 | 2.0 | 2.0 | 12 Dec 2024 |
Recent Rental House Listings (100)
| Address | Rent (per week) | Bedrooms | Bathrooms | Garage spaces | Date | Subdivisible into |
|---|---|---|---|---|---|---|
| 8 Renwood Dr | $6,802,955 | 4 | 2 | 2 | 21 Mar 2025 | 0 |
| 28 Greenvale Dr | $680 | 4 | 2 | 5 | 19 Mar 2025 | 0 |
| 28 Greenvale Dr | $680 | 4 | 2 | 5 | 19 Mar 2025 | 0 |
| 28 Greenvale Dr | $680 | 4 | 2 | 5 | 19 Mar 2025 | 0 |
| 5 Rosalind St | $7,503,250 | 4 | 3 | 2 | 18 Mar 2025 | 0 |
Recently Sold Units (100)
| Address | Price | Bedrooms | Bathrooms | Garage spaces | Date sold | Sale Type |
|---|---|---|---|---|---|---|
| 25 Taloumbi Cr | $621,000 | 0.0 | 0.0 | 0.0 | 28 Feb 2025 | On Market |
| 23 Taloumbi Cr | $621,000 | 0.0 | 0.0 | 0.0 | 28 Feb 2025 | On Market |
| 25 Taloumbi Cr | Price Withheld | 0.0 | 0.0 | 0.0 | 28 Feb 2025 | On Market |
| 25 Taloumbi Cr | Price Withheld | 0.0 | 0.0 | 0.0 | 28 Feb 2025 | On Market |
| 25 Taloumbi Cr | $621,000 | 0.0 | 0.0 | 0.0 | 28 Feb 2025 | On Market |
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