Question 1

Is Aspendale Gardens a nice place to live?

Accepted Answer

Aspendale Gardens is a quiet, family-focused suburb in Melbourne’s south-east, set just inland from Port Phillip Bay between Aspendale and Chelsea. It has about 6,427 residents with a median age of 43, and the community is weighted towards couple families — 57.8% are couple families with children and a further 30.5% are couple families without children — while most homes are owner-occupied (41.7% owned outright and 47.3% with a mortgage). That combination, along with generous backyards and a low-rise streetscape, gives the suburb a settled, suburban character that suits people after more space.

Everyday needs are covered by nearby primary schools and shopping strips, and there are neighbourhood parks, playgrounds and sporting reserves woven through the suburb, with wetlands and coastal walks close by. Public transport is available via the Frankston line stations at Aspendale and Chelsea. The suburb also sits inside the long-standing road reservation for the northern extension of the Mornington Peninsula Freeway, commonly discussed as the Mordialloc Bypass, and council has flagged potential improvements to local community facilities on a medium-term horizon.

Question 2

Is it expensive to live in Aspendale Gardens?

Accepted Answer

For houses in Aspendale Gardens the numbers show renting and buying sit quite differently against local incomes at the last Census. A house rent of $828 a week is about 37.4% of a typical local household's weekly income of $2,210, which is a sizeable share. The median house price of $1,310,000 works out to about 11.4 times a typical local annual household income at the last Census, so buying sits well above what local households earned then. Which of those feels expensive will depend on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Aspendale Gardens a good place to invest?

Accepted Answer

Over the past 12 months in Aspendale Gardens the house market moved solidly: median house values rose 8.3% while median house rents increased 8.9%. The value change is the measure of capital growth over the year and the rent change is the movement in rental income; in this case rents have grown a little faster than prices, so the rental income a house earns increased marginally more than its value did. Whether that pattern suits your investment goals depends on your personal objectives and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$1.31M	N/A
Change in value Past 12 months	8.3%	N/A
Sold Past 3 months	13	N/A
Median days on market Past 12 months	20	N/A
Average rent Past 12 months	$828	N/A
Change in rent Past 12 months	8.9%	N/A

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