Suburb Profile Report for Canterbury VIC (3126)

Canterbury House: Median price $2,450,000, Annual capital growth 9.22%, Number of sales 101, Weekly median advertised rent $900

Canterbury Unit: Median price $932,000, Annual capital growth 5.23%, Number of sales 49, Weekly median advertised rent $430

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 3093th in the list of Australian suburbs ordered by increase in median house value over the last year, Canterbury, 3126 is in the BOTTOM 30% with a property value increase of -1.57% recorded in median house prices.

Canterbury,3126 has offered an average of -1.57% return per annum in house price rises to property investors over the last three years.

Sellers are offering property buyers an average discount of -12.18% to buyers in Canterbury at the moment, which is less than average for the rest of VIC.

Using the current median advertised rental of $900 and the average annual increase in value of a median property of 9.22%, investors should hope to achieve an overall return of 1.91%

Investment property in Canterbury has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 3.27%

While Canterbury,3126 ranked number 358th in VIC for increase in median house value (annualised) increase, it is ranked 83th over the last 5 years.

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 Canterbury, 3126. Typically our figures indicate that -2.01% is being offered, which puts this VIC suburb at 1409th most discounted overall in Australia.

Gail Logan Information supplied by:

Gail Logan
Fletchers

M
O 0411 287 831

W www.fletchers.net.au
E gail.logan@fletchers.net.au
Canterbury is one of Melbourne's most affluent and exclusive suburbs, known for its charm and character. The suburb is characterised by large period homes on substantial plots and quality amenities.Full summary

Selling points: The leafy suburb of Canterbury has a population of around 7,857 and is situated approximately 10km east of Melbourne’s CBD.  It is affluent, has a lot of charm and character and is one of Melbourne’s most expensive and exclusive areas.

Most sought after properties: Currently there is very good demand for two-bedroom units, which are an entry point for some first home buyers. Most two-bedroom villa units are selling for in excess of $500,000 at the moment. There are also a number of people downsizing from their large family homes into three-bedroom, two-bathroom units, which are always highly sought after.

A lot of the larger family homes are commanding prices in excess of $1.5m but there is usually good demand for good homes in the area.

Most common properties: Canterbury is characterised by substantial period homes on good parcels of land and a lot of the area has a heritage overlay.

Top amenities: The suburb has a number of the most prestigious private schools in Melbourne and also an excellent primary school, high school and girl’s secondary college. Canterbury is also known for its lovely parks and gardens, Canterbury Sports Ground and is home to the Camberwell Hockey Club.

Maling Road, the main shopping strip, has many quaint and interesting shops, cafes and restaurants, including some quality produce shops. An abundance of excellent health services also exist in the area.

Local industry and business: Many of the residents commute into the city to work, while a number of locals work within businesses in the area.

Recent changes: The local council is very keen to maintain the period charm of the area and have the support of many of the local residents. There have been a couple of low level developments in the area in the past 10 years but no high rise developments.

Best streets: Streets close to the Maling Road precinct are in high demand, being close to shops, transport and schools.  They are more affordable than some of the more exclusive streets such as Monomeath Avenue, Victoria Avenue, Hopetoun Avenue, Alexandra Avenue, The Ridge, and Mont Albert Road (‘The Golden Mile’).

Public transport: The area has good access to trains, trams and buses.

Main arteries: The Eastern and also Monash Freeways are a few minutes’ drive and provide quick access to the city, outer suburbs and rural areas.

Close
HOUSE UNIT
$2,450,000 $932,000
-3.92% -10.64%
-1.57% 3.27%
9.22% 5.23%
$900 $430
101 49
1.91% 2.40%
65.64 51.07

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
Find a mortgage broker in Canterbury VIC
Demographics
Total population 7857
Median household income ($/weekly) 2350
Median age of persons 44
Median housing loan repayment ($/monthly) 2984
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 1043 13.3
    15-19 years 652 8.3
    35-44 years 829 10.6
    45-54 years 1299 16.5
    55-64 years 1130 14.4
    Others 2904 37.0
    Age Group
    Census Count Percent(%)
    Registered Married 3304 56.9
    Not Married 2234 38.5
    Defacto Relationship 266 4.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 5628 73.8
    Croatia 295 3.9
    Papua New Guinea 142 1.9
    United Kingdom 437 5.7
    Other 291 3.8
    Others 837 11.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 191 2.6
    Christianity 4582 63.0
    Hinduism 110 1.5
    Judaism 66 0.9
    No Religion 2269 31.2
    Others 58 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 229 9.7
    $2,000-$2,499 171 7.2
    $2,500-$2,999 357 15.1
    $3,000-$3,499 260 11.0
    $4,000 or more 374 15.8
    Others 973 41.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2361 37.5
    Employed, worked full-time 2212 35.1
    Employed, worked part-time 1409 22.4
    Employed, away from work 192 3.0
    Unemployed, looking for work 130 2.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 787 20.6
    Professionals 1511 39.6
    Community & personal service workers 260 6.8
    Clerical & administrative workers 519 13.6
    Sales 339 8.9
    Others 399 10.5
    Occupation
    Census Count Percent(%)
    Pre-school 129 5.6
    Infants/Primary 659 28.6
    Secondary 745 32.3
    Technical or Further Educational Institution 101 4.4
    University or other Tertiary Institutions 627 27.2
    Others 44 1.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5641 78.2
    Semi-detached, row or terrace house, townhouse 913 12.7
    Flat, unit or apartment 641 8.9
    House or flat attached to a shop, office 19 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1227 46.9
    Being purchased 819 31.3
    Rented 542 20.7
    Other tenure type 28 1.1
    Tenure Type
Census 2011, ABS
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