Suburb Profile Report for Chirnside Park VIC (3116)

Chirnside Park House: Median price $640,000, Annual capital growth 6.97%, Number of sales 171, Weekly median advertised rent $420

Chirnside Park Unit: Median price $495,000, Annual capital growth 13.73%, Number of sales 14, Weekly median advertised rent $445

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

Source: CoreLogic

  • House Report
  • Unit Report

Chirnside Park is an average performer in VIC when comparing median price capital growth over the last year. Chirnside Park gave property investors a average capital gain figure when compared to the rest of the state, with 10.34%.

If we look at median property appreciation over just the last three months, Chirnside Park has given property investors a paper return of 2.11%. This puts Suburb as 307 on a list of fastest fasting appreciating suburbs in VIC

Property investors looking for a bargain in Chirnside Park should be aiming for at least -4.80% off the asking price, which is the average vendor discount being achieved at the moment.

At number 160 in a list of fastest selling suburbs, Chirnside Park is in the TOP 10% of suburbs in Australia with an average of days on market 36.78 for properties listed there.

With the median price for a house in Chirnside Park being $640000 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 3.41%

VIC has seen average median house prices change by 3.49% which means that Chirnside Park, 3116 has done well for property investors by showing a capital gain of 20.15% over the last year

Across a shorter period, Chirnside Park, 3116 has seen a median price increase of 6.68% over the last quarter.

Property buyers and investors in Chirnside Park 3116 should be seeing an average reduction in asking price of around -18.97% . This means that Chirnside Park is holding prices well when compared to other suburbs in VIC.

Using the current median advertised rental of $445 and the average annual increase in value of a median property of 13.73%, investors should hope to achieve an overall return of 4.67%

Metrics i HOUSE UNIT
$640,000 $495,000
2.11% 6.68%
10.34% 20.15%
6.97% 13.73%
$420 $445
171 14
3.41% 4.67%
36.78 59.08

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