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Paraparap, VIC 3240
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$3,200,000
Median Unit
$780,000
Gross Yield (units)
4.0%
1yr Growth
-
Investment snapshot for Paraparap
Paraparap has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Paraparap market and investor summary
In Paraparap, VIC 3240, the median house sells for around $3.2M. At 6.4% vacancy, it is a softer rental market with more choice for tenants.
Demand is softer at 6.4% vacancy, so longer gaps between tenants are more likely and worth building into the numbers.
Living in Paraparap: people, income and schools
Paraparap has a resident population of roughly 167, and the area has been growing steadily, up about 11% over five years. At a median age of 44, it reads as skewed a little older, and families account for 71% of households.
The typical household income runs to around $120,000 a year (about $2,310 a week). On socio-economic measures it ranks among the most advantaged in the country (9 out of 10 on the ABS advantage index). At current prices a median house runs to a steep 26.6 times local household income, so affordability is a genuine constraint on local buyers. Incomes have risen about 26% over five years, which tends to underpin what local buyers can pay.
There is 1 school within about 5km, testing a little above the national school average on ICSEA. Fixed broadband is delivered over the NBN's Fixed Wireless.
- Population
- 167
- +11% over 5yr
- Median age
- 44 years
- Median household income
- $120,000/yr
- Households renting
- 21%
- Family households
- 71%
- Socio-economic rank
- 9/10
- ABS advantage index
- Schools within 5km
- 1
- avg ICSEA 1094
- Unemployment
- 3.0%
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Paraparap
View all →Frequently asked questions about Paraparap
What should I check before investing in Paraparap?
Paraparap has enough public data for first-pass screening across yield, vacancy, price and supply signals. Use the available metrics below to compare it with nearby suburbs before relying on the suburb-level view.
What are typical property prices in Paraparap?
The median property price in Paraparap, VIC 3240 is $3.2M for houses and $780K for units.
What rental yield does Paraparap show?
The gross rental yield in Paraparap is 4.0% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
How tight is the rental market in Paraparap?
The current vacancy rate in Paraparap is 6.4%. A rate under 2% generally signals a tight rental market. This suburb's rental market is softer, with tenants having more choice and rents possibly under pressure.
How many people live in Paraparap?
Paraparap has a population of approximately 167 residents, with a median age of 44.
What schools are near Paraparap?
There are 1 school within roughly 5km of Paraparap. Their average ICSEA is a little above the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Paraparap affordable to buy in?
A median house in Paraparap costs about 26.6 times the median local household income (a high multiple that makes the suburb a stretch for median local earners). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Paraparap's population growing?
The population of Paraparap has grown about 11% over the past five years, an above-average pace. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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