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Piries, VIC 3723
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,050,000
Median Unit
$725,000
list-price estimate
Gross Yield (houses)
3.0%
1yr Growth
-
Investment snapshot for Piries
Piries has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Piries market and investor summary
In Piries, VIC 3723, the median house sells for around $1.1M, on a gross rental yield of 3.0% for houses. At 13.5% vacancy, it is a softer rental market with more choice for tenants.
For an investor, this reads as a capital-growth market more than a cashflow one. A gross house yield around 3.0% will not cover holding costs in the early years, so the case leans on price appreciation. Demand is softer at 13.5% vacancy, so longer gaps between tenants are more likely and worth building into the numbers. Houses also take time to sell, around 98 days on market, so plan for a slower exit if you ever need one.
Living in Piries: people, income and schools
Piries has a resident population of roughly 66, and the area has been growing steadily, up about 12% over five years. At a median age of 56, it reads as an older, established demographic, and 85% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
The typical household income runs to around $94,000 a year (about $1,810 a week). On socio-economic measures it ranks around the national middle on the ABS advantage index (6 out of 10). At current prices a median house runs to a steep 11.1 times local household income, so affordability is a genuine constraint on local buyers. Incomes have risen about 20% over five years, which tends to underpin what local buyers can pay.
Fixed broadband is delivered over the NBN's Fixed Wireless.
- Population
- 66
- +12% over 5yr
- Median age
- 56 years
- Median household income
- $94,000/yr
- Households renting
- 15%
- Family households
- 85%
- Socio-economic rank
- 6/10
- ABS advantage index
- Unemployment
- 2.8%
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Piries
No properties currently listed in Piries
Search Piries listings →Frequently asked questions about Piries
What should I check before investing in Piries?
Piries 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 Piries?
The median property price in Piries, VIC 3723 is $1.1M for houses.
What rental yield does Piries show?
The gross rental yield in Piries is 3.0% for houses. 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 Piries?
The current vacancy rate in Piries is 13.5%. 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 Piries?
Piries has a population of approximately 66 residents, with a median age of 56.
Is Piries affordable to buy in?
A median house in Piries costs about 11.1 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 Piries's population growing?
The population of Piries has grown about 12% 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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