Suburb Profile Report for Maribyrnong VIC (3032)

Maribyrnong House: Median price $950,000, Annual capital growth 7.54%, Number of sales 142, Weekly median advertised rent $450

Maribyrnong Unit: Median price $475,000, Annual capital growth 5.88%, Number of sales 160, Weekly median advertised rent $380

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Maribyrnong has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.38%

Comparing Maribyrnong,3032 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Property investors looking for a bargain in Maribyrnong should be aiming for at least -3.59% off the asking price, which is the average vendor discount being achieved at the moment.

If you compare the increase in value of investment property in Maribyrnong, 3032 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 4.40%.

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

LACK OF BUYER INTEREST may well be the reason that Maribyrnong is offering property investors an average of -5.03. This rate of discount on properties puts Suburb at number 184th in terms of most discounted suburbs in VIC

With the median price for a house in Maribyrnong being $475000 and the advertised rent reaching $380 the gross rental yield for property investors calculates out to be 4.16%

Fernando Costa Information supplied by:

Fernando Costa
Hockingstuart

M
O 0413 664 133

W www.hockingstuart.com.au
E fcosta@hockingstuart.com.au
Just 8km to Melbourne's north-west on the banks of the Maribyrnong River, this suburb is characterised by parklands and a leafy outlook. it is known for its multicultural demography and diverse range of shops and restaurants.
Three-bedroom homes that are close to parks and public transport are the most sought after in Maribyrnong; especially those with lock-up garages for close to $600,000.
Large, established homes on big land parcels are tightly held and hard to get a piece of, but new estates have been popping up recently, making double-storey homes quite accessible.
A massive development at Highpoint Shopping Centre is adding value and employment to the suburb and will feature more than 400 stores.
Other notable amenities are the aquatic centre, a college and three primary schools.Full summary

Selling points: Maribyrnong is surrounded by parklands and the Maribyrnong River; along with having a multicultural diversity of shops and restaurants. Don’t forget the bonus of being situated within 8km of the CBD.

Most sought after properties: Three-bedroom homes with a double lock-up garage in the early to mid $600,000 range, close to transport, and parklands.

Most common properties: Maribyrnong can be characterised into three different parts.  The old established pocket (tightly held), which comprises both weather board and brick homes on large parcels of land; then the three different estates of double storey homes, such as Waterford Green, Riverbank Estate, and the most popular Edgewater.

Top amenities: Highpoint Shopping Centre (one of the biggest shopping malls in Victoria), which is being upgraded to comprise more car parking and a new set of trendy shops and cafes. The Maribyrnong Aquatic centre, Maribyrnong College and three primary schools are also close at hand.

Local industry and business: Highpoint Shopping Centre features more than 400 stores covering all major brands, along with a homemaker centre.

Recent changes: The $300 million development at Highpoint Shopping Centre will add an additional 30,000 square metres, making it one of the largest shopping centres in Australia on completion.  The addition of the Edgewater Estate drove the prices of Maribyrnong upwards, and most of the expensive homes sold in Maribyrnong over the last three years have been from Edgewater.

Best streets: The best streets to buy in are the ones close to St Margaret’s Primary and Maribyrnong College. These include The Esplanade, Macedon St, Pridham St, and Kellaway Street.

Public transport: Tram 82 leads to Footscray train station and Moonee Ponds train station.  Tram 57 leads to Elizabeth Street in the City.  There are also bus routes that lead to the same destinations.

Main arteries: You have main roads such as Ballarat Rd and Dynon Rd that get you access to the Docklands and the Melbourne CBD. 

Close
Metrics i HOUSE UNIT
$950,000 $475,000
3.83% 1.06%
9.38% 4.40%
7.54% 5.88%
$450 $380
142 160
2.46% 4.16%
61.85 86.17

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Maribyrnong VIC
Demographics
Total population 10164
Median household income ($/weekly) 1636
Median age of persons 32
Median housing loan repayment ($/monthly) 2167
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 1047 10.3
    20-24 years 1090 10.7
    25-34 years 2242 22.1
    35-44 years 1670 16.4
    45-54 years 1310 12.9
    Others 2805 27.6
    Age Group
    Census Count Percent(%)
    Registered Married 3536 45.5
    Not Married 3502 45.1
    Defacto Relationship 729 9.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 5310 55.8
    Croatia 515 5.4
    Indonesia 251 2.6
    Viet Nam 1125 11.8
    Other 629 6.6
    Others 1687 17.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 1189 12.9
    Christianity 5208 56.4
    Hinduism 244 2.6
    Islam 222 2.4
    No Religion 2276 24.7
    Others 91 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 282 8.7
    $1,250-$1,499 248 7.6
    $1,500-$1,999 480 14.8
    $2,000-$2,499 361 11.1
    $2,500-$2,999 387 11.9
    Others 1485 45.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3809 48.0
    Not in the labour force 2096 26.4
    Employed, worked part-time 1409 17.7
    Unemployed, looking for work 324 4.1
    Employed, away from work 304 3.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 762 13.8
    Professionals 1477 26.7
    Technicians & trades workers 563 10.2
    Clerical & administrative workers 896 16.2
    Sales 549 9.9
    Others 1277 23.1
    Occupation
    Census Count Percent(%)
    Pre-school 138 5.7
    Infants/Primary 656 26.9
    Secondary 503 20.6
    Technical or Further Educational Institution 224 9.2
    University or other Tertiary Institutions 798 32.7
    Others 118 4.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5499 58.1
    Semi-detached, row or terrace house, townhouse 2206 23.3
    Flat, unit or apartment 1757 18.6
    House or flat attached to a shop, office 4 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1403 40.0
    Rented 1102 31.4
    Fully owned 986 28.1
    Other tenure type 17 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals