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City of Greater Dandenong

Springvale

Springvale Property Market
& Suburb Profile

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MEDIAN PRICES IN SPRINGVALE

Median house price

(all agencies, last 12 months)$905k*

House price change

(all agencies, last 12 months)+9.5%

Median unit price

(all agencies, last 12 months)$625k*

Unit price change

(all agencies, last 12 months)+0.89%

(Median House Price and Median Unit Price is calculated based on sales of properties with all numbers of bedrooms)

SPRINGVALE price TRACKER

HousesUnits

Springvale sales overview

  • Sold by Auction 50%
  • Sold by Private Sale or Other Method 50%
  • (Based on Sales Reported in the Last 12 Months)

Average days on market (houses)

(all agencies, 12 months)36

Average days on market (units)

(all agencies, 12 months)39

Auction clearance rate in Springvale

(all agencies, last 12 months)61%

Average held period in Springvale

(proptrack)12 years

Springvale Investor Statistics

Median rental price for Houses

(all agencies, last 12 months)$594pw

House rental price change

(all agencies, last 12 months)0.03%

Median rental price for Units

(all agencies, last 12 months)$538pw

Unit rental price change

(all agencies, last 12 months)0.05%

Average rental yield for Houses

(all agencies, last 12 months)3.27%

Average rental yield for Units

(all agencies, last 12 months)4.6%

Springvale total population size

(as at the last census)22,174

Median household size in Springvale

(as at the last census)2.9

(Median House Price and Median Unit Price is calculated based on leased properties with all numbers of bedrooms)

Springvale property types

  • Houses 39%
  • Units 28%
  • Other 33%

OCCUPANCY in Springvale

  • Owned 55%
  • Rented 39%
  • Other/Not Stated 6%
  • Singles 22%
  • Families 71%
  • Other 7%

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About Springvale

Springvale is a suburb of Melbourne, located 22 kilometres southeast of the Melbourne CBD and 8 kilometres from Dandenong.

Located in the City of Greater Dandenong, the residents of Springvale have a diverse cultural background, with more than 69% of the community being born overseas. During the 1970s and 1980s, a large number of Vietnamese moved to Springvale. As a result, the community has a vibrant culture with markets, shops, and restaurants.

Families, retirees, or anyone seeking affordable housing will appreciate this area. Many people are choosing to relocate to the area due to its liveability. There is a sizable market of family homes in Springvale, many of which are large, well-maintained and on quiet streets. Springvale offers a superb suburban experience for people looking for a suburb to relocate to. Housing prices in Springvale have been lower than the average for metropolitan Melbourne, allowing many people to get a foot in the door of the Melbourne real estate market.

The Springvale train station on the Dandenong-Pakenham line runs directly to Melbourne, providing easy access to the city and inner-city amenities.

For entertainment, you can go to the Sandown Racetrack for horse and car racing events and an assortment of exhibitions. Or you can wander across the road to the greyhound racing track. For the kids, there is Ross Reserve. The reserve has a Little Athletics track, skate park and an aquatic centre.

Neighbouring suburbs include Noble Park, Clayton South and Mulgrave.

Education

Heatherhill Primary School
Killester College
Minaret College
Spring Parks Primary School
Springvale Park Special Developmental School
Springvale Rise Primary School
St Joseph's School
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Springvale MARKET INSIGHTS

YearProperties SoldMedian Sale Price
(All Residential)
Sales Growth YoYProperties LeasedMedian Rental Price
(All Residential)
Rental Yield
2025283$765,0009.50%445$566pw3.93%
2024266$726,750-1.19%424$544pw4.00%
2023252$727,500-4.00%444$521pw3.90%
2022299$750,0008.29%633$442pw3.33%
2021391$709,0004.26%715$406pw2.93%
YearSoldMedian Sale Price
(All Residential)
Sales Growth YoY
2025283$765,000+9.50%
2024266$726,750-1.19%
2023252$727,500-4.00%
2022299$750,000+8.29%
2021391$709,000+4.26%

YearLeasedMedian Rental Price
(All Residential)
Rental Yield
2025445$566pw3.93%
2024424$544pw4.00%
2023444$521pw3.90%
2022633$442pw3.33%
2021715$406pw2.93%

PROUDLY SERVICING Springvale

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*The State of Victoria owns the copyright in the property sales data and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth).The State of Victoria does not warrant the accuracy or completeness of the licensed material and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.

This information is supplied by Barry Plant Group Pty Ltd (ABN 96 088 069 952) on behalf of PropTrack Pty Ltd (ABN 43 127 386 298).

The 12 month data in this report is from 31 October 2024 to 31 October 2025, last updated 31 October 2025.