From young professionals starting families, to migrant workers looking for the opportunity to work and live in Australia, Springvale South has something for everyone.
Springvale South is known for its quiet, leafy streets and diverse, close-knit community. Located in the suburb of Springvale and part of the Greater City of Dandenong, it is located 22 kilometres south of Melbourne’s CBD and is home to over 12,768 residents (2016 Census).
This review will take a deeper look into Springvale South Vic, identifying critical factors about its population and housing market to give potential buyers and tenants more insight.
Who lives in Springvale South?
Springvale is home to a multicultural community with a large Vietnamese population along with residents from other cultural backgrounds. As a result, Springvale South is rich in culture, with many Asian businesses operating out of Springvale Central located within the suburb.
The ethnicities represented are as follows:
Vietnam – 19.5%
Cambodia – 13.6%
Indian – 5.1%
China – 2.2%
The average age is 35, which is under the Greater City of Dandenong’s average age of 36, and the Victorian state average of 37. With many couples owning homes in Springvale with no mortgages to pay, they often have more disposable income to spend on things such as education for their children.
Is Springvale South a Good Suburb?
Springvale South is a great suburb with various attractions, parks and small community outlets. Many visitors know the suburb for its wet markets, where customers can buy fresh groceries, meat and seafood. There are also a number of Asian restaurants nearby, which often sit on the busy streets of Springvale.
Parents will also be glad to know that the suburb is near several educational facilities. There are many primary schools around Springvale South, including Spring Parks Primary School-Valley Campus, Keysborough Primary School and Keysborough College. Transportation generally consists of public buses, although there are also train stations (Springvale Railway Station, Noble Park Station and Sandown Park).
For excitement, residents and visitors can go to the local racing attractions in Sandown International Motor Raceway, Sandown Greyhound Racing Club and Ladbrokes Park. Whether you prefer to see cars, greyhounds or horses compete, you will have an exciting experience at one of these facilities.
Springvale South Property Prices
Springvale has seen steady growth in the number of houses being built or redeveloped. Known as a residential suburb, you’ll now see many large, modernised homes in the area.
Demand is relatively high, with each property receiving 676 visitors. This is substantially higher than Springvale as a whole at 444 visitors per property. Homeowners selling their properties, on average, have to wait 78.5 days.
There are currently 33 properties for sale and 20 properties available to rent.
Springvale South Median Property Prices
|3 Bedroom||$783,150||3 Bedroom||$495,000|
|4 Bedroom||$805,000||4 Bedroom||$635,000|
Median Rental Prices
|Houses||Rent Per Week||Units||Rent Per Week|
|3 Bedroom||$395||3 Bedroom||$340|
|4 Bedroom||$430||4 Bedroom||$395|
Springvale South Property – Should You Invest?
Homes have gradually increased in price in the last five years, with homeowners enjoying a compound growth rate of 5.1%. Rental houses, on average, made an annual yield of 2.6%. This information is based on Springvale South’s median property price of $795,000, with a weekly rent of $400 per week.
Unit owners in Springvale South have received a compound growth rate of 5.4% over five years. Rental units, in contrast, make an annual yield rent of 3.5%, which is based on the median unit price of $519,500 with a weekly rent of $350.
The information shown above indicates units are a better investment to houses, based on rental yields and compound growth.
Safety – Keysborough Crime Rate
Springvale South is part of the Greater City of Dandenong and is rated above the state’s average regarding crime. However, this may not reflect the safety of Springvale South. Therefore, the crime rate stats of the city may not be a true indication of how safe it is to live in Springvale South.
Things to Do in Springvale South
Springvale Indoor Sports Centre
If your little ones have missed out on sports day at school or just want to play a casual indoor basketball or soccer game, why not try the Springvale Indoor Sports Centre.
The centre is packed with facilities, like basketball and netball courts along with a five-a-side soccer pitch. If traditional sports aren’t your thing, try your hand at a game Bubble Soccer, Space Jump or Laser Tag. You’ll quickly realise that there is something for everyone!
Springvale Library – Springvale Community Hub
The Springvale Community Library provides locals with a wealth of knowledge and information. Here you’ll be able to enjoy state-of-the-art equipment and technology, including free computer access and Wifi for members. The library also offers beautiful outdoor green areas where you can have social gatherings and community events.
Burden Park is a beautiful local park located just off Springvale Road. The park offers many things for kids and families to enjoy, including playgrounds, sand areas, and an abundance of green spaces. However, it’s best known for its multiple castle structures, which you can climb or play hide and seek.
Springvale Wet Markets
In the very heart of Springvale are its numerous wet markets. Visitors and residents alike will enjoy strolling through these markets while admiring the fresh produce and unique food items for sale. You can purchase king prawns, salmon, and even fresh durians here!
Springvale South Suburb Review – A Conclusion
The suburb of Springvale may not be a thrillseekers paradise, but it does an excellent job of providing locals with a steady and reliable way of life.
Unlike other suburbs in Australia, Springvale South is a peaceful retreat from the high-density traffic found elsewhere in Springvale. With trees, sports facilities and multiple community hubs, it’s easy to see why this is a great suburb to invest in.
Looking to relocate to other parts of Springvale? Check our suburb profile on Springvale to find out more information.