Suburb Profile Report for Merrimac QLD (4226)

Merrimac House: Median price $495,000, Annual capital growth 3.62%, Number of sales 85, Weekly median advertised rent $460

Merrimac Unit: Median price $330,000, Annual capital growth 3.76%, Number of sales 108, Weekly median advertised rent $400

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

With a capital gain of 5.54% for the last 12 months, Merrimac, 4226 has performed for property investments than its average annual 3.62% property growth over the last 5 years.

The five-year average increase in median property values for Merrimac,4226 has given property investors a potential capital gain of 25.32% across each of those five years.

State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.31% offered to property buyers. Sellers in Merrimac itself are offering an average vendor discount of -3.42% to real estate investors.

Residents and property investors in Merrimac have been waiting around 47.82 days to sell a property.

Advertised rents are around the $460 mark per week – giving a return of 4.83% based on the median price in Suburb

QLD has seen average median house prices change by 1.70% which means that Merrimac, 4226 has done well for property investors by showing a capital gain of -8.59% over the last year

Merrimac,4226 was ranked 934 in Australia by increase in median property value over the quarter.

Our latest figures would indicate that property sellers in Merrimac are currently offering property investors an average price cut of -4.56% below the asking price at the moment.

On average over the past year, suburb has had 9.00 sales per month, which equates to 108 per year.

With the median price for a house in Merrimac being $330000 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 6.30%

YIP MAG Information supplied by:

YIP MAG
May 2016

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On the western fringe of the Gold Coast, Merrimac’s properties for sale have been harder to come by over the past 12 monthsFull summary On the western fringe of the Gold Coast, Merrimac’s properties for sale have been harder to come by over the past 12 months.

Real Estate Investar’s figures show that since the corresponding period last year, the number of properties on the market in Merrimac has dipped by nearly a quarter.

This fall in stock could come down to two things: either buyers have taken notice of market movements and have looked to swoop in, or vendors have become content to sit and reap capital growth.

The median house price in Merrimac currently sits at a relatively affordable $470,000 and has shown good signs of growth in recent times, increasing by 24% in the past three years.

Units in the suburb haven’t been performing as well, though: their median price has gone backwards by 16% in the past five years.

The differing performance of houses and units can also be seen in their time on market, with houses taking 45 days to sell, and units 90.Close
HOUSE UNIT
$495,000 $330,000
1.43% 0.00%
5.54% -8.59%
3.62% 3.76%
$460 $400
85 108
4.83% 6.30%
47.82 61.47

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 6320
Median household income ($/weekly) 1229
Median age of persons 34
Median housing loan repayment ($/monthly) 1842
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 868 13.7
    25-34 years 965 15.3
    35-44 years 955 15.1
    45-54 years 781 12.4
    55-64 years 591 9.3
    Others 2161 34.2
    Age Group
    Census Count Percent(%)
    Registered Married 1902 45.1
    Not Married 1782 42.2
    Defacto Relationship 534 12.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 3794 66.1
    South Korea 90 1.6
    Papua New Guinea 622 10.8
    United Kingdom 323 5.6
    Other 285 5.0
    Others 629 11.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 141 2.6
    Christianity 3809 70.1
    Islam 25 0.5
    Other Religious Groups 26 0.5
    No Religion 1414 26.0
    Others 17 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 205 11.1
    $1,000-$1,249 211 11.4
    $1,250-$1,499 202 10.9
    $1,500-$1,999 316 17.0
    $2,000-$2,499 196 10.6
    Others 724 39.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1791 40.8
    Not in the labour force 1212 27.6
    Employed, worked part-time 982 22.4
    Unemployed, looking for work 212 4.8
    Employed, away from work 193 4.4
    Person Characteristics
  • Census Count Percent(%)
    Professionals 460 15.5
    Technicians & trades workers 489 16.5
    Community & personal service workers 376 12.7
    Clerical & administrative workers 437 14.7
    Sales 413 13.9
    Others 794 26.7
    Occupation
    Census Count Percent(%)
    Pre-school 89 6.1
    Infants/Primary 533 36.6
    Secondary 447 30.7
    Technical or Further Educational Institution 126 8.6
    University or other Tertiary Institutions 211 14.5
    Others 52 3.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3674 65.7
    Semi-detached, row or terrace house, townhouse 1872 33.5
    Flat, unit or apartment 43 0.8
    House or flat attached to a shop, office 7 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 836 41.6
    Being purchased 834 41.5
    Fully owned 334 16.6
    Other tenure type 4 0.2
    Tenure Type
Census 2011, ABS
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