Market snapshot
Suburb insights for Patterson Lakes3197
Change suburbPatterson Lakes is located 32 km south-east of the CBD. Patterson Lakes has been one of the faster growing suburbs in Melbourne's south over the past fifteen years. The suburb is based on the Patterson River and features a significant canal network and a number of harbours surrounded by residential areas. Like a number of bayside areas Patterson Lakes has many aged care facilites such as The Patterson Village Retirement Centre and the Illawong Lakeside Retirement Units.
Sales data
Median sale price
$1.2mil
Quarterly price change
-18.4%
Metro Melbourne Comparison
$916k
0.1%
| Bedrooms | Patterson Lakes | Metro comparison |
|---|---|---|
| 2 | - | $902,000 |
| 3 | $881,000 | $807,500 |
| 4 | $1,660,000 | $950,000 |
| Insight | Patterson Lakes | Metro comparison |
|---|---|---|
| Clearance rate | 73.3% | |
| Days on market | 41 | 42 |
Rental data
Median weekly rent
$740
Rental yield
2.9%
Metro Melbourne Comparison
$575
3.3%
| Bedrooms | Patterson Lakes | Metro comparison |
|---|---|---|
| 2 | - | $560 |
| 3 | - | $550 |
| 4 | - | $595 |
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