Suburb Profile Report for Cromer NSW (2099)

Cromer House: Median price $1,350,000, Annual capital growth 6.86%, Number of sales 95, Weekly median advertised rent $850

Cromer Unit: Median price $797,500, Annual capital growth 8.35%, Number of sales 22, Weekly median advertised rent $480

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

At number 836th in the list of Australian suburbs ordered by increase in median house value over the last year, Cromer, 2099 is in the top 30% with a property value increase of 11.57% recorded in median house prices.

The five-year average increase in median property values for Cromer,2099 has given property investors a potential capital gain of 58.82% across each of those five years.

Vendor discounting in Cromer is giving property investors an average Vendor Discount of around -4.61%. This puts suburb at number 774th in NSW when ranking the most discounted suburbs.

At number 223 in a list of fastest selling suburbs, Cromer is in the TOP 10% of suburbs in Australia with an average of days on market 40.64 for properties listed there.

A $850 per week rent on the median house gives suburb investors a gross yield of circa 3.27%, without taking into account capital value appreciation, which has been averaging out at 6.86%.

Property value increases in Cromer have tracked higher than the NSW average of 6.59% over the last 12 months.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Cromer has increased when compared to the 5 year average annual rate.

Advertised rents are around the $480 mark per week – giving a return of 3.13% based on the median price in Suburb

HOUSE UNIT
$1,350,000 $797,500
0.75% 5.14%
11.57% 22.69%
6.86% 8.35%
$850 $480
95 22
3.27% 3.13%
40.64 N/A

Source: CoreLogic

DSR Score for property investment : Very good (H), Very good (U)
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Demographics
Total population 7161
Median household income ($/weekly) 1659
Median age of persons 40
Median housing loan repayment ($/monthly) 2600
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 1042 14.5
    35-44 years 1178 16.4
    45-54 years 1026 14.3
    55-64 years 827 11.5
    65-74 years 632 8.8
    Others 2457 34.3
    Age Group
    Census Count Percent(%)
    Registered Married 3008 56.9
    Not Married 1939 36.6
    Defacto Relationship 344 6.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 5273 76.1
    Japan 128 1.8
    Papua New Guinea 144 2.1
    United Kingdom 574 8.3
    Other 195 2.8
    Others 611 8.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 74 1.1
    Christianity 5090 75.8
    Islam 27 0.4
    Judaism 20 0.3
    No Religion 1470 21.9
    Others 32 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 205 9.4
    $1,500-$1,999 265 12.2
    $2,000-$2,499 224 10.3
    $2,500-$2,999 273 12.5
    $3,000-$3,499 175 8.0
    Others 1036 47.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2198 40.5
    Not in the labour force 1699 31.3
    Employed, worked part-time 1206 22.2
    Employed, away from work 200 3.7
    Unemployed, looking for work 124 2.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 572 15.9
    Professionals 792 22.0
    Technicians & trades workers 513 14.3
    Clerical & administrative workers 592 16.4
    Sales 367 10.2
    Others 763 21.2
    Occupation
    Census Count Percent(%)
    Pre-school 188 10.4
    Infants/Primary 704 38.9
    Secondary 490 27.1
    Technical or Further Educational Institution 173 9.6
    University or other Tertiary Institutions 218 12.0
    Others 37 2.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5910 85.5
    Flat, unit or apartment 520 7.5
    Semi-detached, row or terrace house, townhouse 485 7.0
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1051 43.9
    Fully owned 938 39.2
    Rented 337 14.1
    Other tenure type 66 2.8
    Tenure Type
Census 2011, ABS
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