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Suburb Insights ยท VIC 3197

Patterson Lakes 3197, Victoria

ABS 2021 Census ยท Updated 31 March 2026

Suburb Overview

Patterson Lakes is an outer-metropolitan suburb of Melbourne, Australia, with a population of approximately 7,793, making it a smaller community. Located approximately 33 km from the Melbourne CBD, Patterson Lakes is a outer metro area in Victoria. The median household income is $100,464 AUD per year (ABS 2021 Census).

Investment Score

64 / 100 Good

Patterson Lakes benefits from a high-income resident base, supporting premium property pricing. While further from the city, improving transport links could boost future demand.

Location

Map shows Patterson Lakes, Victoria, Australia.

Key Indicators

Postcode
3197

Official Australia Post postcode for Patterson Lakes. A postcode may cover multiple suburbs.

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Population
7,793

Usual resident population at census night. Source: ABS 2021 Census of Population and Housing.

ABS Census Data โ†’
Median Rent (weekly)
$430/wk

Weekly median rent for occupied private dwellings. Source: ABS 2021 Census. Live rental data integration coming soon.

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Median Household Income
$100,464/yr

Annual median household income (before tax) for all households. Source: ABS 2021 Census.

ABS Census Data โ†’
Distance to CBD
33 km

Straight-line distance from the suburb centroid (ABS 2021 SAL geography) to the nearest capital city CBD. Actual driving distance will be longer.

Lifestyle & Amenities

Schools nearby
2

Estimated 2 schools within or near this suburb based on ABS 2021 data.

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Parks & green spaces
3

Estimated 3 parks and green spaces near this suburb. Source: ABS 2021 data.

Median Mortgage (monthly)
$2,100/mo

Monthly median mortgage repayment for households currently paying off a mortgage. Source: ABS 2021 Census.

ABS Census Data โ†’
Dwelling Type
55% houses

Proportion of separate houses vs units, townhouses, and other dwelling types. Source: ABS 2021 Census. Relevant for investors assessing rental demand mix.

ABS Census Data โ†’

Investment Insight

Patterson Lakes's outer-metropolitan position means more affordable entry points for investors, with potential for capital growth as infrastructure extends outward. Demand is often driven by young families seeking space and value. The median rent of $430/week (ABS 2021) indicates a mid-range rental market. Owner-occupiers face a median mortgage repayment of $2,100/month. A median household income of $100,464/year supports premium property values and indicates a well-employed resident base.

Investment Strategy

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Buy & Hold

Holding property in Patterson Lakes over the medium term may deliver steady, if unspectacular, returns.

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Rental Yield

Expect competitive but not exceptional rental returns in Patterson Lakes's current market.

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Renovation / Flip

Renovation or flip strategies in Patterson Lakes face headwinds from a smaller buyer pool and slower turnover.

Risk Factors

Run the numbers on a Patterson Lakes property

Full Property Analysis

30-year projections for Patterson Lakes

Scenario comparison, cash flow analysis, tax modelling, and PDF export โ€” all in one place.

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2026 Outlook

Growth: Moderate Rental Demand: Moderate Investor Sentiment: Moderate

Growth in Patterson Lakes through 2026 will likely be steady rather than spectacular, tracking the wider market. Rental demand is expected to be stable, though landlords may need to remain competitive on pricing. The market mood around Patterson Lakes is balanced โ€” neither bullish nor bearish heading into 2026.

Frequently Asked Questions

Is Patterson Lakes a good suburb for investment?

Patterson Lakes is a outer metro area in Victoria with a population of 7,793. The median rent is $430/week and the median household income is $100,464/year (ABS 2021 Census). As with any property investment, conduct thorough due diligence on current listings, vacancy rates, and local infrastructure plans before committing.

What drives property demand in Patterson Lakes?

Key demand drivers in Patterson Lakes include affordability relative to inner suburbs and expanding infrastructure. 55% of dwellings are separate houses. The area has approximately 2 schools and 3 parks nearby.

What is the population of Patterson Lakes?

According to the ABS 2021 Census, Patterson Lakes has a population of approximately 7,793. For historical population trends and intercensal estimates, visit the ABS Census Data Explorer at abs.gov.au.

How far is Patterson Lakes from the Melbourne CBD?

Patterson Lakes is approximately 33 km straight-line distance from the Melbourne CBD (calculated from ABS 2021 suburb centroid coordinates). Road travel times will vary; check current mapping services for up-to-date routes.

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