Suburb Profile Report for Murrumbeena VIC (3163)

Murrumbeena House: Median price $1,280,000, Annual capital growth 8.94%, Number of sales 73, Weekly median advertised rent $525

Murrumbeena Unit: Median price $541,500, Annual capital growth 9.01%, Number of sales 93, Weekly median advertised rent $350

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Murrumbeena have tracked just lower than the VIC average of 8.27% over the last 12 months.

Across a shorter period, Murrumbeena, 3163 has seen a median price increase of -0.04% over the last quarter.

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 Murrumbeena, 3163. Typically our figures indicate that -1.70% is being offered, which puts this VIC suburb at 3721th most discounted overall in Australia.

The VIC suburb of Murrumbeena, 3163 is in the Glen Eira local government area.

If you compare the increase in value of investment property in Murrumbeena, 3163 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 8.30%.

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

Our latest figures would indicate that property sellers in Murrumbeena are currently offering property investors an average price cut of -6.11% below the asking price at the moment.

Often selling an investment property can take time, and in Murrumbeena the average time real estate has been on the market is 57.44 days.

Metrics i HOUSE UNIT
$1,280,000 $541,500
-0.04% 1.21%
3.58% 8.30%
8.94% 9.01%
$525 $350
73 93
2.13% 3.36%
62.41 57.44

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 8592
Median household income ($/weekly) 1354
Median age of persons 36
Median housing loan repayment ($/monthly) 2000
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 947 11.0
    25-34 years 1559 18.1
    35-44 years 1423 16.6
    45-54 years 1172 13.6
    55-64 years 855 10.0
    Others 2636 30.7
    Age Group
    Census Count Percent(%)
    Registered Married 3255 48.8
    Not Married 2863 42.9
    Defacto Relationship 553 8.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 5451 65.4
    Croatia 396 4.8
    Indonesia 515 6.2
    United Kingdom 291 3.5
    Other 519 6.2
    Others 1159 13.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 277 3.5
    Christianity 4526 56.7
    Hinduism 419 5.3
    Judaism 323 4.0
    No Religion 2248 28.2
    Others 187 2.3
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 269 8.5
    $1,000-$1,249 312 9.8
    $1,500-$1,999 356 11.2
    $2,000-$2,499 277 8.7
    $2,500-$2,999 329 10.4
    Others 1634 51.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2972 43.2
    Not in the labour force 2003 29.1
    Employed, worked part-time 1458 21.2
    Employed, away from work 236 3.4
    Unemployed, looking for work 217 3.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 633 13.6
    Professionals 1518 32.5
    Technicians & trades workers 482 10.3
    Clerical & administrative workers 785 16.8
    Sales 458 9.8
    Others 795 17.0
    Occupation
    Census Count Percent(%)
    Pre-school 176 8.3
    Infants/Primary 642 30.2
    Secondary 458 21.5
    Technical or Further Educational Institution 161 7.6
    University or other Tertiary Institutions 616 28.9
    Others 75 3.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5245 63.7
    Flat, unit or apartment 1870 22.7
    Semi-detached, row or terrace house, townhouse 1089 13.2
    House or flat attached to a shop, office 32 0.4
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1252 36.7
    Being purchased 1075 31.5
    Fully owned 1074 31.4
    Other tenure type 15 0.4
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals