Hampton Park suburb profile
Hampton Park is a vibrant suburb located in Melbourne's southeast, approximately 36km from the CBD. Known for its family-friendly atmosphere, it offers a mix of residential options, including modern estates and established homes. The suburb is well-serviced by local amenities, including schools, shopping centres, and recreational facilities, making it an attractive choice for families and professionals. Hampton Park is also conveniently connected to major transport routes, providing easy access to the city and surrounding areas. Its community spirit and growing infrastructure contribute to its appeal as a desirable place to live and invest.
Hampton Park property market performance
Current median dwelling price$616,000Past 3 months
Property growth+3.8%Past 12 months
Hampton Park's property market has experienced steady growth over the past 12 months, with house values increasing by 4.9% and unit values by 4.2%. The current median house price stands at $673,000, while the median unit price is $550,000, indicating a healthy demand for both property types.
Sales activity has been robust, with 73 houses and 13 units sold over the last 12 months. Houses are selling relatively quickly, with a median of 23 days on the market, compared to 32 days for units, suggesting a stronger demand for houses.
The rental market in Hampton Park has seen significant increases, with house rents rising by 13.0% and unit rents by 8.9% over the past year. The average rent for houses is $520, while units average $490, reflecting a strong rental demand in the area.
Houses | Units | |
---|---|---|
Median price Past 3 months | $675K | N/A |
Change in value Past 12 months | 2.3% | 5.4% |
Sold Past 3 months | 77 | 4 |
Median days on market Past 12 months | 57 | 62 |
Average rent Past 12 months | $520 | $485 |
Change in rent Past 12 months | 4.0% | 7.8% |
5 year median price trend for houses and units
Hampton Park demographics
Hampton Park, located in the southeastern suburbs of Melbourne, is a family-oriented community known for its suburban charm and accessibility to essential amenities. With a population of 26,082 and a median age of 33, the suburb is home to a youthful and diverse demographic. The area is particularly appealing to families, with over half of the households being couple families with children, reflecting its family-friendly environment and community-focused lifestyle.
The housing landscape in Hampton Park is characterized by a significant proportion of home ownership, with 24.1% of properties owned outright and 46.2% owned with a mortgage. This indicates a stable residential base, with many families choosing to settle long-term in the area. The rental market, comprising 29.7% of properties, offers options for those seeking flexibility, including young professionals and new families looking to establish themselves in the community.
Hampton Park's median household income of $1,538 per week aligns with its suburban setting, providing a comfortable standard of living for its residents. The suburb's infrastructure supports a balanced lifestyle, with access to schools, parks, and shopping centers, making it an attractive option for those seeking a blend of convenience and community spirit. Overall, Hampton Park offers a welcoming environment for families and individuals looking to enjoy the benefits of suburban living within reach of Melbourne's urban opportunities.
Hampton Park infrastructure, key developments and investment opportunities
Hampton Park is experiencing steady growth and development that may impact its property market. The suburb's population has increased to over 26,000 residents as of the 2021 census, indicating rising demand for housing in the area. Hampton Park's town centre along Hallam Road continues to expand, with recent additions to the local shopping precinct enhancing amenities for residents.
Infrastructure improvements include ongoing upgrades to local schools to accommodate the growing population. The nearby South Gippsland Freeway provides convenient access to Melbourne's CBD, while bus routes connecting to Lynbrook and Hallam railway stations have improved public transport options. With its mix of established homes and new developments, Hampton Park offers diverse housing choices that are likely to attract both families and investors seeking affordable options in Melbourne's southeastern growth corridor.
Hampton Park rental market trends
The rental market in Hampton Park has experienced notable growth, with house rents increasing 13.0% over the past year to $520 per week, while unit rents have risen 8.9% to $490 per week. This suburb continues to attract renters and investors alike, thanks to its affordability and proximity to essential amenities and transport links.
Suburbs near Hampton Park
Some popular suburbs near Hampton Park include:
How does Hampton Park compare to nearby suburbs?
- Median house prices: Hampton Park’s median house price is 8.3% higher than Doveton’s.
- Median unit prices: Hampton Park’s median unit price is 1.3% higher than Narre Warren’s.
- House price growth: Over the past 12 months, house prices in Hampton Park have grown 4.7% higher than in Narre Warren South.
- Unit price growth: Property prices in nearby Narre Warren have risen 4.0% more than in Hampton Park over the past year.
- Selling speed for houses: Properties in Hampton Park are selling 37.4% faster than in Doveton.
- Selling speed for units: Properties in Hampton Park are selling 24.4% faster than in Narre Warren.
- Investment considerations: In Hampton Park, the rental yield for house is 16.3% lower than the Melbourne average, while the rental yield for units is 13.2% lower.
- House price growth: Over the past 12 months, house prices in Hampton Park have grown 34.3% lower than the average rate of growth across Melbourne.
- Unit price growth:Over the past 12 months, unit prices in Hampton Park have grown 1.7% lower than the average rate of growth for units across Melbourne.