Located in Victoria within the Greater Dandenong local government area, Springvale is a sizeable suburb (postcode 3171). With a population of 22,174, the suburb has a mix of young professionals and families with a median age of 36. Households earn a median income of $73K per year, with an average household size of 2.9 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.2% year-on-year at the LGA level. VIC employment has moved +0.8% year-on-year in the official ABS Labour Force trend series, which provides the broader jobs backdrop for this suburb. VIC also had 41 Commonwealth-backed major projects under construction, 18 underway, and 24 in planning as at 2025-09-01, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are labourers, professionals, technicians & trades. Employment in the area leans toward manufacturing and healthcare. The top ancestries reported are Vietnamese, Chinese, English.
Springvale has a median house price of $833,000, which has dipped slightly by 2% year-on-year. Units have a median price of $645,000 (+2.7% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 3.6%. The median monthly mortgage repayment is $1,750.
Springvale is served by 7 schools, including 4 primary, 1 secondary, 1 combined, 1 special. The average ICSEA score is 980, which is around the national average of 1,000. Public transport access includes 5 rail stations, 80 bus stops. The crime rate in the Greater Dandenong LGA is higher than average at 13,153 incidents per 100,000 population.
From an investment perspective, Springvale shows a gross rental yield of approximately 3.6%, rated as moderate yield. Property prices are near the state median ($833K/$850K). The price-to-income ratio of 11.4x is considered stretched. House prices have moved -2.0% year-on-year. Population growth of +1.2% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.