Has relocating to one Melbourne’s various suburbs been on your radar? If so, you’ll be interested to know about the suburb of Clayton, Victoria. This suburb is located 18 km south-east of Melbourne’s CBD, and known for its bustling student population and large residential areas.
OurLocalAgent’s Clayton suburb profile delivers key details of the area, including median property prices, demographics and activities you can do.
Clayton Vic 3168 Demographics – Who Lives There?
According to a 2016 Census, Clayton Vic 3168 has a population of 19,358 people that occupy 6671 dwellings. The suburb’s population median age is 25 years old and is considered well-educated, with 71.7% having attended or currently enrolled in tertiary education.
In addition to its young residents, Clayton’s community is a diverse one. Here, you’ll meet people from a wide range different ethnic backgrounds, with many coming from China, India, England and Grecce. Lastly, if you’re interested in visiting other local areas, there are suburbs near Clayton that include Chadstone, Notting Hill, and Huntingdale.
Is Clayton a Good Suburb to Live in?
Clayton, Victoria is known for two things in particular. First, the suburb is well-known for its large residential areas and peaceful atmosphere. Second, it is home to Monash University, which is Australia’s largest college. As a result, Clayton has become a student town, with many people residing during semesters.
One of Clayton’s other focal points is its shopping strip and railway station, which gives provides retail therapy and city acess. It also has many parks and wetland reserves that offer a peaceful escape.
Clayton Median House Price & Median Unit Price
Clayton has experienced significant housing redevelopment, with many older homes being demolished for new family-friendlier houses. However, contemporary townhouses built in the 1960s still remain, displaying beautiful, classical qualities. Due to Clayton’s proximity to Monash University, student accommodation certainly isn’t difficult to come by.
2022 has seen an average demand for Clayton housing, with visitors per property averaging at 337. As of now, Clayton’s median house price is $1,285,000, with the median unit price sitting at $730,750.
Clayton Median House Price List
Listed below is property sales data on Clayton’s median property prices:
|2 Bedroom House||$1,072,500||1 Bedroom Unit||$370,448|
|3 Bedroom House||$1,262,500||2 Bedroom Unit||$530,000|
|4 Bedroom House||$1,310,500||3 Bedroom Unit||$860,000|
Clayton Median Rental Price
Listed below is property sales data on Clayton property rental price:
|Houses||Rental PW||Units||Rent PW|
|2 Bedroom House||$390||1 Bedroom Unit||$330|
|3 Bedroom House||$400||2 Bedroom Unit||$370|
|4 Bedroom House||$480||3 Bedroom Unit||$450|
Houses vs Units – What’s the Better Investment?
Houses in Clayton have had a compound growth rate of 5.1% over the past five years, with a rental yield of 1.7%. Property data presented is based on Clayton’s median house price of $1,285,000, and weekly rent of $420.
Unit property owners in Clayton have enjoyed a compound rate of 5.1% over five years. Rental owners, meanwhile, receive an annual yield of 3.0%. This information is based on Clayton’s median unit price of $730,750, and weekly rent of $420.
So what does this mean for Clayton property investors?
Clayton’s houses and units have seen an annual compound growth rate of 5.1%. Although both share the same annual growth rate, houses will generate higher capital gains due to their higher market value.
At the same time, unit rentals are more profitable than houses. Despite Clayton unit prices being lower, owners still receive the same rental amount per week.
Clayton Lifestyle – Places to Go
Below are popular activities and amenities in Clayton:
Spring Valley Golf Club
Practise your golf swing at one of Melbourne’s most famous golf courses. The Spring Valley Golf club features an 18-hole course designed for all players. And besides the golf course regularly hosting prestigious tournaments, it’s also booking venue for private and corporate events.
Clayton is blessed with an abundance of greenery, and Karkarook park’s aboriginal cultural landscape is one example. Sited on 15 hectares of land, the park has many indigenous plants and beautiful wetlands. Besides its lush sights, you can participate in kayaking, sailing or canoeing.
While Monash University is a place of learning, it also serves as a tourist hotspot. The institution is ranked in the top 100 worldwide and part of the Group of Eight, a coalition of Australia’s leading research-intensive universities. Additionally, campus tours are available for visitors to see the facilities and courses offered by the university.
Clayton’s Shops & Markets
Clayton hosts a variety of markets and local cuisines with unique culinary delights. Along Clayton road, wander through its shopping strip and see a plethora of shops and markets. Popular shops include the Clayton Fresh Fruit Mart, Hong Kong Supermarket, India at Home and much more.
Clayton Community Centre
Clayton Community Centre provides a one-stop-shop for recreational activities. For instance, you can find an Auditorium and theatre, a Fitness and Aquatic centre, and an arts facility. Thus, the centre is a focal point for the community and a popular place for locals to meet.
Should you Move to Clayton Vic 3168?
While past observations would have probably convinced you it was a boring place to live, Clayton is constantly evolving. To illustrate this, the suburb offers plenty of family-friendly activities and events to keep the kids entertained. As a result, Clayton is becoming a more attractive place to settle.
Clayton’s real estate market also provides great investment opportunities and is perfect first-time home buyers looking to settle down.
To learn more about Melbourne’s leafy suburbs, read our Springvale suburb profile.