Median priceⓘLast 12 months
830kk
↑ +50.0% YoY
Patterson Lakes, VIC 3197
Property data updated ·7,793 residents
Last 12 months snapshot
147 sales · 97 leases · Refreshed July 2026
Patterson Lakes property market
House sales lead the way in Patterson Lakes, with 103 sales (up 1%) at around $1.321M (up 8.8%) as of July 2026, taking about 26 days to sell (up from 25 days last year), just under half of homes are 3-bedroom.
House rentals follow, with 50 leases at $870 a week (up), renting out in about 24 days (down a lot from 39 days last year), among Victoria's strongest house rent gains, just under half of homes are 3-bedroom. Then come 47 unit rentals at $648 a week (up), among the country's strongest unit rent gains. 44 unit sales at around $744k (up).
Above-average incomeFamily-focusedMostly ownersMulticultural
Who lives hereAn above-average-income, mostly owner-occupied, family-oriented suburb — multicultural.
House covers houses, duplexes, semi-detached and terraces; Unit covers apartments, units, townhouses and villas.
Census · ABS 2021
Patterson Lakes demographics & population
Population
7,793
Median age
46yrs
Avg household
2.5people
Male · Female
49% · 51%
Owner-occupied
50%
Renting
50%
Lone person
50%
Couples, no kids
50%
Born overseas
50%
Year 12+ⓘ
50%
Census data sourced from the Australian Bureau of Statistics — © Commonwealth of Australia, 2021 Census of Population and Housing and Socio-Economic Indexes for Areas (SEIFA) 2021 · Shares, ratios and percentiles shown are Micromarkets transformations of that data · licensed CC BY 4.0.
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Census · ABS 2021
Who lives in Patterson Lakes?
The age structure, household make-up, and cultural fabric of the people who call this suburb home.
Age & sex6,615 residentsMaleFemale
Share of all residents by 5-year band · hover a band for the count + split
Life stage
50%
50%
50%
50%
50%
50%
Children0–1450%Youth15–2450%Young adults25–3450%Midlife35–5450%Mature55–6450%Seniors65+50%
Household composition
50%
50%
50%
50%
50%
Lone person50%Couples, no kids50%Families with kids50%Other families50%Group / share50%
1.3 people / household0.5 persons / bedroom50% are 5+ person
Household sizepersons per dwelling
50%1
50%2
50%3
50%4
50%5
50%6+
Cultural make-upshare of residents · diversity = odds two differ
Born overseasⓘResidents born outside Australia, as a share of those who stated a birthplace.50%
Other language at homeⓘResidents who mainly speak a language other than English at home — counts the language used, not how well English is spoken.50%
Limited EnglishⓘResidents who speak English “not well” or “not at all”. A language-barrier measure, not bilingualism — many who speak another language at home still speak English well.50%
Both parents overseasⓘResidents whose mother and father were both born overseas — the Australian-born-to-migrants “second generation”, distinct from being born overseas yourself.50%
Australian citizensⓘResidents who are Australian citizens — both Australian-born and people who have since naturalised.50%
Birthplace diversity28%
Chance two random residents were born in different countries
Language diversity21%
Chance two random residents speak different languages at home
Religious diversity34%
Chance two random residents follow different religions
Where residents were borntop birthplaces
Afghanistan50%
Australia50%
Bangladesh50%
Bosnia & Herzegovina50%
Brazil50%
Cambodia50%
Canada50%
Chile50%
Languages at hometop languages
English only50%
Afrikaans50%
Arabic50%
Australian Indigenous50%
Cantonese50%
Mandarin50%
Other Chinese50%
Croatian50%
Ancestry% reporting · multi-response
Australian50%
Aboriginal/Torres Strait Islander50%
Chinese50%
Croatian50%
Dutch50%
English50%
Faith & belieftap Christianity
No religion50%
▸Christianity50%
Islam50%
Buddhism50%
Hinduism50%
Judaism50%
Other religions50%
Family originsparents’ birthplace
50%
50%
50%
Both parents overseas50%One parent overseas50%Both parents in Australia50%
A strongly multicultural community with deep migrant heritage.
When migrants arrivedshare of overseas-born
Before 198150%
1981-200050%
2001-201050%
2011-201550%
2016-202150%
2020–21 understated — COVID border closures.
Census data sourced from the Australian Bureau of Statistics — © Commonwealth of Australia, 2021 Census of Population and Housing · Shares, ratios and percentiles shown are Micromarkets transformations of that data · licensed CC BY 4.0.
Census · ABS 2021
Housing & affordability in Patterson Lakes
What it costs to live here, who owns versus rents, and the shape of the housing stock.
Affordability at a glance
LowMedianHighPercentile
Median weekly rentⓘMiddle weekly rent paid by renting households.Bottom 48%Median weekly rent · $286/wk — typical: right around the median for Aussie suburbs.
Median monthly mortgageⓘMiddle monthly mortgage repayment among households with a mortgage.Top 47%Median monthly mortgage · $1,663/mo — typical: right around the median for Aussie suburbs.
Rent stress (rent ÷ income)ⓘMedian weekly rent as a share of median weekly household income — a rough rental-affordability gauge. Higher = rent takes a bigger bite.Top 50%Rent stress · 50% — typical: right around the median for Aussie suburbs.
Mortgage stress (repay ÷ income)ⓘMedian mortgage repayment (converted to weekly) as a share of median weekly household income. Higher = repayments take a bigger bite.Top 50%Mortgage stress · 50% — typical: right around the median for Aussie suburbs.
High mortgage (≥$3k/mo)ⓘMortgaged households repaying $3,000 or more per month.Top 50%High mortgage · 50% — typical: right around the median for Aussie suburbs.
Social housingⓘHouseholds renting from a state housing authority or community housing provider.Top 50%Social housing · 50% — typical: right around the median for Aussie suburbs.
Unoccupied on census nightⓘDwellings recorded as unoccupied on Census night — holiday homes, between-tenant rentals, etc.Top 50%Unoccupied on census night · 50% — typical: right around the median for Aussie suburbs.
Large dwellings (4+ bed)ⓘOccupied dwellings with 4 or more bedrooms.Top 50%Large dwellings · 50% — typical: right around the median for Aussie suburbs.
This suburb Typical range (middle 50%) Median suburb
Bedrooms per dwellingshare of dwellings
50%0
50%1
50%2
50%3
50%4
50%5
50%6+
Who owns vs rentsoccupied dwellings
50%
50%
50%
50%
Owned outright50%Mortgage50%Renting50%Other50%
What’s built heredwelling types
50%
50%
50%
50%
House50%Townhouse50%Apartment50%Other50%
50% separate houses50% apartments50% high-rise
Census data sourced from the Australian Bureau of Statistics — © Commonwealth of Australia, 2021 Census of Population and Housing · Shares, ratios and percentiles shown are Micromarkets transformations of that data · licensed CC BY 4.0.
Census · ABS 2021
Income & employment in Patterson Lakes
Incomes, employment, and the occupation mix of the people who live here.
Income & work at a glance
LowMedianHighPercentile
Median personal incomeⓘMiddle weekly income of individuals aged 15+.Bottom 45%Median personal income · $458/wk — typical: right around the median for Aussie suburbs.
Median family incomeⓘMiddle weekly income of families.Top 44%Median family income · $1,519/wk — typical: right around the median for Aussie suburbs.
Managers & professionalsⓘEmployed residents who work as managers or professionals.Top 50%Managers & professionals · 50% — typical: right around the median for Aussie suburbs.
High earners (≥$2k/wk)ⓘResidents earning $2,000 or more per week.Top 50%High earners · 50% — typical: right around the median for Aussie suburbs.
This suburb Typical range (middle 50%) Median suburb
Occupations
LowMedianHighPercentile
Managers & professionalsⓘEmployed residents who work as managers or professionals.Top 50%Managers & professionals · 50% — typical: right around the median for Aussie suburbs.
Clerical & adminⓘEmployed residents in clerical and administrative jobs.Top 50%Clerical & admin · 50% — typical: right around the median for Aussie suburbs.
Community & personal serviceⓘEmployed residents in community and personal-service jobs — care, hospitality, security and similar.Top 50%Community & personal service · 50% — typical: right around the median for Aussie suburbs.
Sales workersⓘEmployed residents in sales jobs.Top 50%Sales workers · 50% — typical: right around the median for Aussie suburbs.
Technicians, trades & labourersⓘEmployed residents in technical/trade, machinery-operating and labouring jobs.Top 50%Technicians, trades & labourers · 50% — typical: right around the median for Aussie suburbs.
Household incomeheight = share of households · weekly
Personal incomeheight = share of residents 15+ · weekly
A typical household pulls in about 3.3× the typical individual — a multi-earner area.
Labour forceemployment status · residents 15+
50%
50%
50%
50%
50%
Employed full-time50%Employed part-time50%Employed (away/other)50%Unemployed50%Not in labour force50%
LowMedianHighPercentile
Full-time workersⓘResidents in the labour force who are employed full-time.Top 50%Full-time workers · 50% — typical: right around the median for Aussie suburbs.
Part-time workersⓘEmployed residents working part-time, of all employed.Top 50%Part-time workers · 50% — typical: right around the median for Aussie suburbs.
Unemployment rateⓘShare of the labour force (people working or actively looking) who are unemployed — not a share of all residents.Top 50%Unemployment rate · 50% — typical: right around the median for Aussie suburbs.
Not in labour forceⓘResidents 15+ neither working nor looking for work — retirees, students, carers.Top 50%Not in labour force · 50% — typical: right around the median for Aussie suburbs.
Labour-force participationⓘResidents 15+ who are in the labour force — working or looking for work.Top 50%Labour-force participation · 50% — typical: right around the median for Aussie suburbs.
This suburb Typical range (middle 50%) Median suburb
Census data sourced from the Australian Bureau of Statistics — © Commonwealth of Australia, 2021 Census of Population and Housing · Shares, ratios and percentiles shown are Micromarkets transformations of that data · licensed CC BY 4.0.
Census · ABS 2021
Getting around Patterson Lakes
How people get to work, and how car-dependent the suburb is — the clearest tell of inner-urban versus outer-suburban living.
Transport at a glance
LowMedianHighPercentile
Public transport to workⓘCommuters who travelled to work by train, bus, ferry or tram, of those who travelled.Top 50%Public transport to work · 50% — typical: right around the median for Aussie suburbs.
Walked or cycled to workⓘCommuters who walked or cycled to work, of those who travelled.Top 50%Walked or cycled to work · 50% — typical: right around the median for Aussie suburbs.
Worked from homeⓘEmployed residents who worked from home in the Census week — elevated by COVID in 2021.Top 50%Worked from home · 50% — typical: right around the median for Aussie suburbs.
No motor vehicleⓘHouseholds with no motor vehicle.Top 50%No motor vehicle · 50% — typical: right around the median for Aussie suburbs.
Vehicles per dwellingⓘAverage number of motor vehicles per household.Bottom 12%Vehicles per dwelling · 1.00 — well below average: in the bottom 12%, fewer vehicles per home than 88% of Aussie suburbs.
This suburb Typical range (middle 50%) Median suburb
Journey to workamong commuters · top modes
Car (driver)50%
Car (passenger)50%
Train50%
Bus50%
Tram/light rail50%
Ferry50%
Walked50%
Vehicles per dwellingshare of households
50%0
50%1
50%2
50%3
50%4+
Census data sourced from the Australian Bureau of Statistics — © Commonwealth of Australia, 2021 Census of Population and Housing · Shares, ratios and percentiles shown are Micromarkets transformations of that data · licensed CC BY 4.0.
Education · ACARA My School 2025
Schools in and around Patterson Lakes
1 school inside Patterson Lakes, plus the closest options around it. Families can choose from 1 primary school in Patterson Lakes and its surrounds — no high school sits within this radius. Distances are straight-line from the suburb centre and are not enrolment catchments — always confirm zones with the school.
Within Patterson Lakes1schools in the suburb itself
Primary schools1within 5 km · nearest in suburb
Secondary schools0within 5 km · nearest 8.5 km
Median ICSEA rank50thenrolment-weighted
What is ICSEA Rank?
ICSEA is ACARA’s official measure of a school’s socio-educational advantage — based mainly on parents’ education and occupation, plus the school’s location and student mix.
Nearby within1 school
- Within Patterson Lakes · 1Order by
- 1Patterson Lakes Primary SchoolGovernment · Primary · Co-ed · Years Prep-6 · Within suburbState Rank—English—Maths—Students309Multilingual50%ICSEA Rank50th
Government
Why are some State Rank and star ratings blank? Schools can choose not to publish their results. In practice, schools that score well above their state average almost always publish theirs — so a blank rating more often reflects a school opting out than a top result being hidden. Academic results also tend to rise with ICSEA Rank, so higher-ICSEA schools more often carry a strong State Rank as well.
School profile and ICSEA data sourced from ACARA — © Australian Curriculum, Assessment and Reporting Authority (data year 2025) · State Rank & star columns are Micromarkets-compiled academic ratings from publicly available school results · Distances are straight-line from the suburb centre, not catchments.
Census · ABS 2021
Turnover
How settled or transient the community is — and where newcomers came from.
Settledness at a glance
LowMedianHighPercentile
Settled 5+ yearsⓘResidents living at the same address as five years ago — how settled the community is.Top 50%Settled 5+ years · 50% — typical: right around the median for Aussie suburbs.
Moved in past yearⓘResidents living at a different address one year earlier.Top 50%Moved in past year · 50% — typical: right around the median for Aussie suburbs.
Arrived from overseas (5 yr)ⓘResidents who arrived in Australia from overseas within the past five years.Top 50%Arrived from overseas · 50% — typical: right around the median for Aussie suburbs.
This suburb Typical range (middle 50%) Median suburb
Where residents lived 5 years agoof those who stated
50%
50%
50%
50%
Same address50%Moved within area50%From elsewhere in Australia50%From overseas50%
Residential paceshare of residents
Moved in the past yearⓘResidents living at a different address one year earlier.50%
Moved in the past 5 yearsⓘResidents not living at the same address as five years ago.50%
Arrived from overseas (5 yr)ⓘResidents who arrived in Australia from overseas within the past five years.50%
Property market
Market snapshot
Patterson Lakes median house price & rent
Headline price, rent, yield and time on market for Patterson Lakes — choose a property type and size below.
Active segment
Houses
Units
Days on marketⓘLast 12 months
21
↑ 5 days YoY
SoldⓘLast 12 months
23
↑ +0.5% YoY
Months of supplyⓘLast 12 months
7.3mo
Median rentⓘLast 12 months
$497/w
↑ +50.0% YoY
Days to leaseⓘLast 12 months
17
↓ 1 day YoY
LeasedⓘLast 12 months
15
↑ +50.0% YoY
Gross yieldⓘLast 12 months
3.14%
Annualised
Data confidenceSales sample27StrongLease sample18Good
Segment breakdown
House & unit prices by bedroom
Every segment this suburb tracks — sales and rentals side by side, ranked by total activity over the last twelve months.
Demand percentile 0–100 · last 12 months12-mo change
Sales
Rental
Demand
Segment
Sold
Price
DOM
Leased
Rent
DOM
Yield
SalesRent
01
Houses · 2 bed27 sales · 18 leases
Sold23+0.5%
Price$830k+0.5%
Sales DOM21 days
Leased15+0.5%
Rent$497/wk▲+50.0%
Rental DOM17 days+1d
3.14%
Sales—
Rent—
02
Houses · 3 bed27 sales · 18 leases
Sold23▲+50.0%
Price$830k▲+50.0%
Sales DOM21 days▼−5d
Leased15+0.5%
Rent$497/wk▲+50.0%
Rental DOM17 days+1d
3.14%
Sales50/100
Rent50/100
03
Houses · 4 bed27 sales · 18 leases
Sold23+0.5%
Price$830k▲+50.0%
Sales DOM21 days▼−5d
Leased15+0.5%
Rent$497/wk▲+50.0%
Rental DOM17 days+1d
3.14%
Sales50/100
Rent50/100
04
Units · 2 bed27 sales · 18 leases
Sold23+0.5%
Price$830k▲+50.0%
Sales DOM21 days▼−5d
Leased15+0.5%
Rent$497/wk+0.5%
Rental DOM17 days+1d
3.14%
Sales50/100
Rent50/100
05
Units · 3 bed27 sales · 18 leases
Sold23+0.5%
Price$830k▲+50.0%
Sales DOM21 days▼−5d
Leased15▲+50.0%
Rent$497/wk▲+50.0%
Rental DOM17 days+1d
3.14%
Sales50/100
Rent50/100
06
Units · 1 bed27 sales · 18 leases
Sold—
Price—
Sales DOM—
Leased15+0.5%
Rent$497/wk▲+50.0%
Rental DOM—
—
Sales1/100
Rent—
All houses
Sold23+0.5%
Price$830k▲+50.0%
Sales DOM21 days▼−5d
Leased15▲+50.0%
Rent$497/wk▲+50.0%
Rental DOM17 days+1d
3.14%
Sales50/100
Rent50/100
All units
Sold23+0.5%
Price$830k▲+50.0%
Sales DOM21 days▼−5d
Leased15+0.5%
Rent$497/wk▲+50.0%
Rental DOM17 days+1d
3.14%
Sales50/100
Rent50/100
Where each segment ranks
Patterson Lakes property growth
Where each segment sits against its peers in the chosen geography — past the midline means it's outperforming the rest.
Metric
Ranked against
Market demandHow fast this market is moving — a velocity index built from trailing-year transaction volume and median days on market. Strong volume lifts the score; days on market drags it down, with the drag growing sharply once listings start lingering. Ranked against peers in the chosen geography.
Houses
3/3above median
02550 · MEDIAN75100
Percentile vs VIC
Value
Units
3/4above median
02550 · MEDIAN75100
Percentile vs VIC
Value
The buy-versus-rent equation
Buying vs renting in Patterson Lakes
What it costs each week to own a property versus renting the same one — positive means buying carries the premium, negative means rent covers the mortgage.
Property
Compare to
Houses · 3 bed: +50%
Houses · 4 bed: +50%
Houses · Total: +50%
Units · 2 bed: +50%
Units · 3 bed: +50%
Units · Total: +50%
VIC MEDIAN · +31%
Rent covers itRenting matches or beats the cost of owning−10% to 0%
BalancedMortgage roughly matches asking rent+30% to +60%
Far pricier to ownBuying costs much more than renting+100% to +130%+
BreakdownLast 12 months
Holding cost
Mortgage
Rent
Premium
Band
Assumes 80% LVR·6.0% rate·30y P&I
Premium = (weekly mortgage − weekly rent) ÷ weekly rent. Band thresholds are national breakpoints across ~11,400 eligible Australian segments — the Typical premium band spans national P25 to P75, so it’s literally what’s typical.
Market data
How strong is demand, and which way is it heading?
Two questions on one chart — how strong demand is right now, and which way it's heading year-on-year.
Side
View
Property
Bedrooms
Radius
Compared against
Sales market velocity
4 nearby suburbs · 10km · Total house · sales
risingfalling
DOM change YoYis demand rising or falling?
median
median
Recoveryweak but rising
Boomstrong and rising
Troughweak and falling
Peakstrong but easing
Nearby suburb
Demand index
59 / 100vs VIC
Days on market
13 days▼ −3 days YoY
Median price
$888k▲ +12.4% YoY
Sold (last year)
44▼ −2.8% YoY
Nearby suburb
Demand index
56 / 100vs VIC
Days on market
16 days▼ −1 day YoY
Median price
$609k▲ +4.7% YoY
Sold (last year)
26▼ −9.5% YoY
Nearby suburb
Demand index
68 / 100vs VIC
Days on market
13 days▲ +1 day YoY
Median price
$665k▲ +7.1% YoY
Sold (last year)
56▼ −1.6% YoY
Nearby suburb
Demand index
55 / 100vs VIC
Days on market
19 days▲ +1 day YoY
Median price
$756k▲ +3.0% YoY
Sold (last year)
26▼ −17.4% YoY
Patterson Lakes · this suburb
Demand index
67 / 100vs VIC
Days on market
21 days▼ −5 days YoY
Median price
$830k▲ +50.0% YoY
Sold (last year)
23▲ +0.5% YoY
weakSales market velocityhow strong sales demand isstrong
This suburb Neighbouring suburbs · coloured by market phaseHover a point for its figures
Market data
Patterson Lakes against the neighbourhood
Eight diagnostic views cutting the data a different way each time — Patterson Lakes in blue, peers in colour.
Pair
View
Property
Bedrooms
Radius
How fast — and is it getting faster?
4 peer suburbs · 10km · Total house
fasterslower
DOM change YoYvs 12 months ago
median
median
Recoveringquiet but accelerating
Boomingbusy and accelerating
Stalledquiet and slowing further
Coolingbusy but slowing
Nearby suburb
Demand index
31 / 100vs Australia
Days on market
13 days▼ −3 days YoY
Median price
$888k▲ +12.4% YoY
Sold (last year)
44▼ −2.8% YoY
Gross yield
2.30%
Nearby suburb
Demand index
43 / 100vs Australia
Days on market
16 days▼ −1 day YoY
Median price
$609k▲ +4.7% YoY
Sold (last year)
26▼ −9.5% YoY
Gross yield
2.62%
Nearby suburb
Demand index
45 / 100vs Australia
Days on market
13 days▲ +1 day YoY
Median price
$665k▲ +7.1% YoY
Sold (last year)
56▼ −1.6% YoY
Gross yield
1.66%
Nearby suburb
Demand index
32 / 100vs Australia
Days on market
19 days▲ +1 day YoY
Median price
$756k▲ +3.0% YoY
Sold (last year)
26▼ −17.4% YoY
Gross yield
2.61%
Patterson Lakes · this suburb
Demand index
50 / 100vs Australia
Days on market
21 days▼ −5 days YoY
Median price
$830k▲ +50.0% YoY
Sold (last year)
23▲ +0.5% YoY
Gross yield
3.14%
slowDays on marketmedian days to sellfast
This suburb Neighbouring suburbs · coloured by market phaseHover a point for its figures
How much is available right now?
Housing supply & months of stock
How long current listings would take to clear at the recent rate of sales or leases. Critical shortage and Oversupply only fire at the genuine tails of the national distribution — sales tip in under 0.7 months, rentals far faster, under 0.3.
View
Sales market
| Segment | Band | Months of supply left | YoYYoY change12-month change in months of supply. Down means stock is tightening (fewer months than a year ago); up means stock is loosening. | ListedListedActive listings in this segment right now, derived from months of supply multiplied by the recent transaction rate. | SoldSold (last year)Total sold transactions completed in this segment over the last 12 months. | Per monthPer monthAverage monthly absorption — how many properties are sold each month in this segment, over the last 12 months. |
|---|---|---|---|---|---|---|
| Severe shortage | 1.1 | ▼ -0.9 | 2 | 23 | 1.9 | |
| Balanced | 2.4 | ▼ -0.9 | 5 | 23 | 1.9 | |
| Balanced | 2.7 | ▲ +1.1 | 5 | 23 | 1.9 | |
| Slightly loose | 3.7 | ▲ +0.6 | 7 | 23 | 1.9 | |
| Loose | 4.3 | ▼ -0.7 | 8 | 23 | 1.9 | |
| Loose | 6.0 | ▲ +3.0 | 12 | 23 | 1.9 | |
| Oversupply | 7.3 | ▲ +4.8 | 14 | 23 | 1.9 |
median
Rental market
| Segment | Band | Months of supply left | YoYYoY change12-month change in months of supply. Down means stock is tightening (fewer months than a year ago); up means stock is loosening. | ListedListedActive listings in this segment right now, derived from months of supply multiplied by the recent transaction rate. | LeasedLeased (last year)Total leased transactions completed in this segment over the last 12 months. | Per monthPer monthAverage monthly absorption — how many properties are leased each month in this segment, over the last 12 months. |
|---|
median
Severe
Very Tight
Tight
Balanced
Loose
Very Loose
Saturated
Under-suppliedOver-supplied
Market data
Who's transacting — buyers or tenants?
Out of every property transaction in this suburb, what share are sales versus leases — each point a rolling twelve-month window.
Property
Patterson Lakes — Units & Houses, all bedrooms
Jul 2021 – Jun 2026 · each point = a 12-month window
0%25%50%75%100%20222023202420252026
Sales · buyer transactions
Leases · tenant transactions
Five-year arc
Patterson Lakes median house price & rent history
Each tape traces one metric across sixty months for the selected segment — every point a trailing twelve-month figure, matching the headline KPIs above.
Five-year summaryAs of Jun 2026, the median house sale price in Patterson Lakes fell from $960k (Jul 2021) to $931k (Jun 2026) — a 3.1% decline over five years — peaking at $1.21M between Aug 2023 and Jul 2024. Median house rent went from $506/wk to $509/wk (+0.6%) over the same period. For units, the median sale price rose from $332k to $617k (+85.6%), with rent up from $361/wk to $379/wk (+5.0%) over the same period.
PropertyBedrooms
Median price (trailing year)
Jun 2026
$931k+37.5%
5y median $843kvs last year $677k
Total sales (trailing year)
Jun 2026
85+63.5%
5y median 78vs last year 52
Days on market (trailing year)
Jun 2026
22 days-4
5y median 27 daysvs last year 26 days
Median rent (trailing year)
Jun 2026
$509/wk-18.6%
5y median $544/wkvs last year $625/wk
Total leases (trailing year)
Jun 2026
28-22.2%
5y median 37vs last year 36
Days on market (rental) (trailing year)
Jun 2026
19 days-8
5y median 23 daysvs last year 27 days
Gross yield (trailing year)
Jun 2026
2.37%+0.49 pt
5y median 2.20%vs last year 1.88%
Months of supply
Jun 2026
3.6 months+41.1%
5y median 3.2 monthsvs last year 2.5 months
Months of supply (rental)
Jun 2026
1.1 months-3.7%
5y median 1.4 monthsvs last year 1.1 months
Nearby markets
Suburbs near Patterson Lakes: prices compared
The nearest suburbs to Patterson Lakes, ranked by distance — each lined up against Patterson Lakes on the same measures, so the differences jump out at a glance.
Market
Property
Bedrooms
Radius
Colour by
This marketPatterson LakesVIC 3197 · Houses · Total
Price$830k
DOM21 days
Sold23
5 markets within 5kmLast 12 months
01
BonbeachVIC 3196 · 0.9km · Houses · Total
Price$888k
DOM13 days
Sold44
pricierfaster
02CarrumVIC 3197 · 1.6km · Houses · Total
Price$609k
DOM16 days
Sold26
cheaperfaster
03ChelseaVIC 3196 · 1.7km · Houses · Total
Price$665k
DOM13 days
Sold56
cheaperfaster
04BangholmeVIC 3175 · 2.2km · Houses · Total
Price$1.04M
DOM76 days
Sold4
priciermuch slower
05Chelsea HeightsVIC 3196 · 2.6km · Houses · Total
Price$756k
DOM19 days
Sold26
cheaperfaster
Houses · TotalSales market
Stat colourHow each suburb's stat compares to Patterson Lakes
Much lowerLowerSimilarHigherMuch higher
Similar markets
Suburbs like Patterson Lakes
Suburbs anywhere in VIC that behave like Patterson Lakes — matched on price, growth, selling speed and demand, not on distance. A shortlist of markets that move the same way — including ones far away you'd never think to compare. (Want the suburbs right next door instead? See Nearby markets above.)
Patterson Lakes vs Moorabbin: the closest sales-market match trades at a median of $1.02M against Patterson Lakes's $830k — about 23% higher, with homes selling in 14 days versus 21 days here.
Colour by
Property
Bedrooms
Market
This marketPatterson LakesVIC 3197 · Houses · Total
Price$830k
DOM21 days
Sold23
Most similar sales markets · within 5.5–25 kmLast 12 months
0102030405
MoorabbinVIC 3189 · 13km · 61% match
Price$1.02M
DOM14 days
Sold53
CollingwoodVIC 3066 · 25km · 75% match
Price$803k
DOM14 days
Sold33
MordiallocVIC 3195 · 5km · 64% match
Price$785k
DOM17 days
Sold54
Hampton EastVIC 3188 · 13km · 68% match
Price$1.10M
DOM14 days
Sold67
WarranwoodVIC 3134 · 22km · 53% match
Price$748k
DOM16 days
Sold40
Stat colourHow each suburb's stat compares to Patterson Lakes
Much lowerLowerSimilarHigherMuch higher
Comparable sales markets to Patterson Lakes: Moorabbin, VIC property market, Collingwood property growth, Mordialloc property market, Hampton East property market and Warranwood property growth.
Patterson Lakes's closest rental-market twins: Moorabbin median house price, Mordialloc property market, Warranwood house prices, Hampton East property market and Collingwood property growth. Each link opens that suburb's full market report.
Market data
Frequently asked · Patterson Lakes
26 data-driven answers about Patterson Lakes's property market — every one computed from the metrics above.
What things cost
Prices, rent, yield, ownership costWhat is the median house price in Patterson Lakes?
#The median house price in Patterson Lakes, VIC 3197 is $830k as of June 2026, based on 27 sales over the past 12 months. Houses there have moved +50.0% year-on-year. Prices vary by bedroom count, from compact two-bedroom homes to larger four-bedroom houses. See the bedroom-level breakdown below for 2-, 3- and 4-bedroom medians.
What is the median unit price in Patterson Lakes?
#The median unit price in Patterson Lakes, VIC 3197 is $830k as of June 2026, based on 27 sales over the past 12 months. Units have moved +50.0% year-on-year and currently trade at roughly 100% of the median house price.
How much does it cost to rent in Patterson Lakes?
#The median weekly house rent in Patterson Lakes is $497 as of June 2026, drawn from 18 leases over the past 12 months. Units rent for around $497 per week. House rents have moved +50.0% year-on-year. Current vacancy pressure is shown in the supply section above.
How much is rent for a 3 bedroom house in Patterson Lakes?
#A 3 bedroom house in Patterson Lakes rents for a median $497 per week as of June 2026, drawn from 18 leases over the past 12 months. Across other house sizes: 2-bedroom $497/week, 4-bedroom $497/week. Unit rents: 1-bedroom $497/week, 2-bedroom $497/week, 3-bedroom $497/week. Figures cover only segments with enough recent leases to be statistically meaningful; sparse segments are excluded. The segment breakdown covers rent, yield and days on market for every property type and bedroom count.
What is the gross rental yield in Patterson Lakes?
#Gross rental yield in Patterson Lakes is 3.14% for houses and 3.14% for units as of June 2026, compared with the VIC unit median of 4.14%. Gross yield is annual rent divided by purchase price — it doesn't account for ownership costs like council rates, strata, maintenance or vacancy.
How much is a 3 bedroom house in Patterson Lakes?
#As of June 2026, Patterson Lakes medians by bedroom count:
| Property | 1 bed | 2 bed | 3 bed | 4 bed | Total |
|---|---|---|---|---|---|
| Houses | — | $830k | $830k | $830k | $830k |
| Units | — | $830k | $830k | — | $830k |
Figures cover only segments with enough recent transactions to be statistically meaningful; sparse segments are excluded.
What does it cost to own versus rent at the Patterson Lakes median?
#At the median Patterson Lakes house ($830k purchase, $497/week rent), weekly mortgage repayments sit at roughly $808 — about $311 more per week than renting. That gap is the ownership premium. For the median unit ($830k purchase, $497/week rent), repayments run about $808 per week. Figures assume 80% LVR, a 6.0% interest rate and a 30-year principal-and-interest loan.
How the market is moving
Speed, supply, growth, cycle phaseWhat are Patterson Lakes's property market trends?
#Patterson Lakes's property market trends to June 2026: house prices rose +50.0% year-on-year and units +50.0%; weekly house rents moved +50.0%; homes now sell in a median 21 days — faster than a year ago by 5; sales supply sits at 7.3 months (saturated). Read together — price, rent, selling speed and supply — they show which way the Patterson Lakes market is leaning. The 5-year tape and demand cycle charts above plot the full trajectory.
What does the data say about Patterson Lakes as an investment?
#As of June 2026 in Patterson Lakes, house prices rose +50.0% over the year, gross rental yield is 3.14% against a VIC median of 2.11%, houses take a median 21 days to sell, sales supply is 7.3 months (saturated). Capital growth, rental yield, selling speed and supply are the signals investors weigh — but these figures describe the market, not a recommendation. This is data, not financial advice; always do your own research and consider a licensed adviser.
How quickly do houses sell in Patterson Lakes?
#Houses in Patterson Lakes sell in a median 21 days on market as of June 2026, with units clearing slightly similarly at 21 days. Days on market have tightened by 5 days versus a year ago. Faster clearance typically coincides with stronger buyer demand and lower supply.
Is Patterson Lakes a tight or loose property market right now?
#Patterson Lakes's sales market sits at 7.3 months of supply for houses as of June 2026 — classified as Saturated (extreme oversupply) against the Australian distribution. Under 1.7 months is Severe (extreme shortage); over 4.5 months is Loose. The rental side is tighter still at 1.8 months of supply.
Have property prices in Patterson Lakes gone up or down?
#House prices in Patterson Lakes moved +50.0% over the 12 months to June 2026, while units moved +50.0%. The 5-year tape above plots the full monthly trajectory — showing where the market changed character rather than just crossing round numbers.
How active is the rental market in Patterson Lakes?
#Patterson Lakes's house rental market sits at 1.8 months of supply as of June 2026 — classified as Balanced, with 15 houses leased over the past 12 months. Units sit at 2.0 months. Tighter supply typically corresponds to faster letting and upward pressure on rents.
Where is Patterson Lakes in its property market cycle?
#Patterson Lakes's house market is currently in the 'in_demand_easing' phase as of June 2026 — combining above-median sales velocity nationally with year-on-year tightening in days on market. The demand cycle chart above plots all eight segments on the same demand-versus-direction axes.
How it compares
Vs state, vs nearby, vs popularHow does Patterson Lakes compare to other VIC suburbs?
#Patterson Lakes's median house price ($830k) is 24% above the VIC median ($670k) as of June 2026. On selling speed, houses clear in 21 days vs 23 days state median. On gross yield, Patterson Lakes sits at 3.14% vs 2.11% state median.
How does Patterson Lakes compare to neighbouring suburbs?
#Patterson Lakes's most-similar nearby market is Moorabbin (13.0 km away) with a median house price of $1.02M — about 23% pricier. The Nearby and Similar markets sections above rank every peer within radius and by composite similarity across price, days on market, yield, ownership cost and cycle phase.
What's the most popular property type in Patterson Lakes?
#The most-transacted segment in Patterson Lakes over the 12 months to June 2026 is 2 bed houses with 23 sales. 3 bed houses come second at 23 sales. The buying-versus-renting section above breaks down the top segments with weekly mortgage, rent and ownership-cost detail.
How many properties were sold and leased in Patterson Lakes last year?
#Patterson Lakes recorded 23 house sales and 23 unit sales over the 12 months to June 2026 — a combined 46 transactions. On the rental side, 15 houses and 15 units were leased. Segments with statistically thin samples are excluded from displayed figures.
About the area
Population, income, who lives here, schoolsWhat postcode is Patterson Lakes in?
#Patterson Lakes is in postcode 3197, in the Inner South Melbourne region of VIC. Addresses there are written as Patterson Lakes, VIC 3197.
What is the population of Patterson Lakes?
#Patterson Lakes, VIC 3197 is home to 6,615 residents (ABS Census 2021). The median resident age is 32, and the average household holds 1.3 people. The "Who lives here" section above breaks the community down by age, life stage and tenure.
What is the median household income in Patterson Lakes?
#The median household in Patterson Lakes earns $2k per week — roughly $79k a year (ABS Census 2021). Median personal income runs $458/week. Income, rent-to-income and mortgage-to-income context sits in the "Who lives here" section above.
What is the unemployment rate in Patterson Lakes?
#The unemployment rate in Patterson Lakes is 50.0% (ABS Census 2021). That sits right around the median for Australian suburbs. The rate counts people who are working or actively looking for work — not a share of all residents. Workforce participation sits at 50%. The local economy section above covers incomes, employment status and the occupation mix.
Do people own or rent in Patterson Lakes?
#Patterson Lakes is mostly owner-occupied: about 100% of households are owner-occupiers and 50% rent (ABS Census 2021). Of owners, 50% own outright and 50% are paying off a mortgage.
What schools are near Patterson Lakes?
#Patterson Lakes has 150 schools within reach, 1 of them inside the suburb itself — including Patterson Lakes Primary School. The Schools section above maps each one with sector, year range, enrolment, Micromarkets-compiled academic ratings and ICSEA (ACARA).
Is Patterson Lakes a good place to live?
#Patterson Lakes, VIC 3197 has a population of 6,615, a median age of 32, a median household income around $2k/week, 50% of households renting (ABS Census 2021). There are 150 schools within reach. Whether it's the right fit depends on your priorities — these figures describe the community, housing mix and amenity rather than offer a verdict.
About this data
Methodology and update cadenceWhen was this Patterson Lakes market data last updated?
#This Patterson Lakes market data was last updated July 2026, covering the 12 months to June 2026. Figures are computed monthly from 12-month rolling windows of recorded sales and leases, with five years of monthly history behind the trend charts. Methodology, glossary and data sources are linked in the footer.