Z3414736 - LGA: Banyule

Key features
Evidently:
- House prices rise steadily from 1985 through to 2012 after adjusting for inflation. Median
gross rent also rises
- Although population did not change significantly in the suburb of banyule, the number of
occupied dwellings has risen steadily over time. This can telegraph the rise in rent and house
prices as demand for housing has gone up wihtin the community.
- Unoccupied dwellings rose by 400 between 1991 and 1996 which follows the recession of
the australian economy within this period.
- There seems to be a positive correlatino between the economy and housing prices and rent
and occupied dwellings. When the economy is strong and in an upturn, prices rise. When the
economy has a downturn, prices and occupied dwellings fall. Demand is mainly based on the
economy within this town as population barely changes over the 30 or so years.
- Demand is derived from
- Between 1991 and 1997 median house prices fell ~ 16%. However rents did not fall and
stayed relatively stable during this period.
- Income has only started to rise from 2001 onwards and from then a trend of higher income
is recorded. However this is not correlated with housing sales. This can be explained by the
lack of change in population and demonstrated in the lack of housing sales
- Also the fall in rental yield since 1997 demonstrates more buyers who live in banyule as
opposed to investors looking to rent out the house.
Banyule community
- Good health services
- People believe it is a safe and welcoming community (95% people feel safe, 82% feel like
they belong there according to the Banyule annual strategic performance indicator report)
- Extremely high employment rate (96.3% according to the Banyule annual strategic
performance indicator report)
- It is a clean environment (1,975 trees planted, 16,103 native plants planted)
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