Suburb Profile Report for Cremorne VIC (3121)

Cremorne House: Median price $1,220,000, Annual capital growth 10.65%, Number of sales 27, Weekly median advertised rent $620

Cremorne Unit: Median price $615,000, Annual capital growth 2.00%, Number of sales 27, Weekly median advertised rent $470

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

Source: CoreLogic

  • House Report
  • Unit Report

Property investors who have had real estate in Cremorne, 3121 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 22.00%

While Cremorne,3121 ranked number 6th in VIC for increase in median house value (annualised) increase, it is ranked 51th over the last 5 years.

In the last year 27 properties changed hands in Cremorne, which puts it as the 546th most active market in VIC when comparing the number of sales per suburb.

Giving property investors a an average capital gain of 4.24% for the last year, Cremorne, 3121 is the 775th highest performer in Australia in this respect.

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

Property investors looking for a bargain in Cremorne should be aiming for at least -4.71% off the asking price, which is the average vendor discount being achieved at the moment.

Often selling an investment property can take time, and in Cremorne the average time real estate has been on the market is 45.1 days.

Using the current median advertised rental of $470 and the average annual increase in value of a median property of 2.00%, investors should hope to achieve an overall return of 3.97%

Metrics i HOUSE UNIT
$1,220,000 $615,000
20.49% 4.85%
22.00% 4.24%
10.65% 2.00%
$620 $470
27 27
2.64% 3.97%
N/A 45.1

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Cremorne VIC
Demographics
Total population 1564
Median household income ($/weekly) 2182
Median age of persons 32
Median housing loan repayment ($/monthly) 2500
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 104 6.6
    25-34 years 660 42.2
    35-44 years 320 20.4
    45-54 years 128 8.2
    55-64 years 90 5.8
    Others 263 16.8
    Age Group
    Census Count Percent(%)
    Not Married 610 49.2
    Registered Married 344 27.8
    Defacto Relationship 285 23.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 1087 75.0
    Hong Kong 31 2.1
    Papua New Guinea 70 4.8
    United Kingdom 75 5.2
    Other 53 3.7
    Others 133 9.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 8 0.6
    Christianity 672 49.2
    Judaism 12 0.9
    Other Religious Groups 13 1.0
    No Religion 644 47.1
    Others 17 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 89 14.1
    $2,000-$2,499 64 10.2
    $2,500-$2,999 115 18.3
    $3,000-$3,499 52 8.3
    $4,000 or more 72 11.4
    Others 237 37.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 859 66.0
    Employed, worked part-time 196 15.1
    Not in the labour force 163 12.5
    Employed, away from work 47 3.6
    Unemployed, looking for work 37 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 199 18.1
    Professionals 474 43.0
    Technicians & trades workers 93 8.4
    Clerical & administrative workers 127 11.5
    Sales 83 7.5
    Others 126 11.4
    Occupation
    Census Count Percent(%)
    Pre-school 17 6.6
    Infants/Primary 69 26.8
    Secondary 21 8.2
    Technical or Further Educational Institution 23 8.9
    University or other Tertiary Institutions 112 43.6
    Others 15 5.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Semi-detached, row or terrace house, townhouse 652 45.9
    Separate house 450 31.6
    Flat, unit or apartment 316 22.2
    House or flat attached to a shop, office 4 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 332 48.3
    Being purchased 223 32.5
    Fully owned 126 18.3
    Other tenure type 6 0.9
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals