Suburb Profile Report for Merrimac QLD (4226)

Merrimac House: Median price $497,000, Annual capital growth 3.84%, Number of sales 82, Weekly median advertised rent $460

Merrimac Unit: Median price $330,000, Annual capital growth 3.97%, Number of sales 103, Weekly median advertised rent $400

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Merrimac is in the TOP 30% in QLD when comparing median price capital growth over the last year. Merrimac gave property investors a good capital gain figure when compared to the rest of the state, with 6.88%.

If we look at median property appreciation over just the last three months, Merrimac has given property investors a paper return of 5.19%. This puts Suburb as 87 on a list of fastest fasting appreciating suburbs in QLD

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Merrimac, 4226. Typically our figures indicate that -3.64% is being offered, which puts this QLD suburb at 3358th most discounted overall in Australia.

Using the current median advertised rental of $460 and the average annual increase in value of a median property of 3.84%, investors should hope to achieve an overall return of 4.81%

Over the last year, property investments in Merrimac, 4226 have given investors a capital gain of -8.08%. This compares very badly with the 0.77% for QLD as a whole.

Comparing Merrimac,4226 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period

At number 133th of QLD’s most discounted properties, Merrimac is in the middle of the state/territory when listing in order of most discounted to least.

A $400 per week rent on the median house gives suburb investors a gross yield of circa 6.30%, without taking into account capital value appreciation, which has been averaging out at 3.97%.

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
$497,000 $330,000
5.19% -8.08%
6.88% -8.08%
3.84% 3.97%
$460 $400
82 103
4.81% 6.30%
46.75 61.97

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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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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Recent sales & rentals