Suburb Profile Report for Chirnside Park VIC (3116)

Chirnside Park House: Median price $622,556, Annual capital growth 6.60%, Number of sales 156, Weekly median advertised rent $418

Chirnside Park Unit: Median price $467,000, Annual capital growth 7.67%, Number of sales 24, Weekly median advertised rent $445

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Chirnside Park have tracked just higher than the VIC average of 7.68% over the last 12 months.

Taking the average capital gain, or increase in median house value, Chirnside Park,3116 has racked up an average of 13.19% over the period. This ranks it number 851th in the whole country for real estate investors looking at median house price increases.

Property investors looking for a bargain in Chirnside Park should be aiming for at least -4.57% off the asking price, which is the average vendor discount being achieved at the moment.

Advertised rents are around the $417.5 mark per week – giving a return of 3.49% based on the median price in Suburb

Investment property in Chirnside Park has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 13.35%

The five-year average increase in median property values for Chirnside Park,3116 has given property investors a potential capital gain of 42.38% across each of those five years.

Sellers are offering property buyers an average discount of -11.79% to buyers in Chirnside Park at the moment, which is less than average for the rest of VIC.

Often selling an investment property can take time, and in Chirnside Park the average time real estate has been on the market is 69.81 days.

Using the current median advertised rental of $445 and the average annual increase in value of a median property of 7.67%, investors should hope to achieve an overall return of 4.96%

HOUSE UNIT
$622,556 $467,000
4.54% 9.62%
13.19% 13.35%
6.60% 7.67%
$418 $445
156 24
3.49% 4.96%
39.18 69.81

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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Demographics
Total population 9124
Median household income ($/weekly) 1418
Median age of persons 40
Median housing loan repayment ($/monthly) 1755
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 1187 13.0
    25-34 years 972 10.7
    35-44 years 1250 13.7
    45-54 years 1316 14.4
    55-64 years 1264 13.9
    Others 3136 34.4
    Age Group
    Census Count Percent(%)
    Registered Married 3845 55.6
    Not Married 2552 36.9
    Defacto Relationship 522 7.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 6926 79.1
    Japan 192 2.2
    Papua New Guinea 123 1.4
    United Kingdom 689 7.9
    Other 187 2.1
    Others 643 7.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 77 0.9
    Christianity 5824 70.0
    Islam 45 0.5
    Other Religious Groups 46 0.6
    No Religion 2294 27.6
    Others 33 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 260 9.3
    $1,000-$1,249 262 9.3
    $1,500-$1,999 394 14.0
    $2,000-$2,499 334 11.9
    $2,500-$2,999 288 10.3
    Others 1271 45.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2858 39.7
    Not in the labour force 2351 32.6
    Employed, worked part-time 1543 21.4
    Employed, away from work 285 4.0
    Unemployed, looking for work 168 2.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 578 12.4
    Professionals 753 16.1
    Technicians & trades workers 822 17.6
    Clerical & administrative workers 782 16.7
    Sales 563 12.0
    Others 1182 25.3
    Occupation
    Census Count Percent(%)
    Pre-school 168 7.7
    Infants/Primary 768 35.1
    Secondary 663 30.3
    Technical or Further Educational Institution 224 10.2
    University or other Tertiary Institutions 282 12.9
    Others 83 3.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 8532 98.6
    Semi-detached, row or terrace house, townhouse 85 1.0
    Flat, unit or apartment 30 0.3
    House or flat attached to a shop, office 5 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1427 46.4
    Fully owned 1293 42.0
    Rented 342 11.1
    Other tenure type 15 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals