Suburb Profile Report for Dandenong VIC (3175)

Dandenong House: Median price $510,000, Annual capital growth 7.82%, Number of sales 201, Weekly median advertised rent $340

Dandenong Unit: Median price $317,000, Annual capital growth 6.44%, Number of sales 315, Weekly median advertised rent $285

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Dandenong 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 12.21%

The five-year average increase in median property values for Dandenong,3175 has given property investors a potential capital gain of 27.18% across each of those five years.

Our latest figures would indicate that property sellers in Dandenong are currently offering property investors an average price cut of -5.26% below the asking price at the moment.

Advertised rents are around the $340 mark per week – giving a return of 3.47% based on the median price in Suburb

Property investors who have had real estate in Dandenong, 3175 should be ok 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 3.93%

Dandenong,3175 has offered an average of 3.93% return per annum in house price rises to property investors over the last three years.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.22% offered to property buyers. Sellers in Dandenong itself are offering an average vendor discount of -4.92% to real estate investors.

A $285 per week rent on the median house gives suburb investors a gross yield of circa 4.68%, without taking into account capital value appreciation, which has been averaging out at 6.44%.

YIP MAG Information supplied by:

YIP MAG
July 2015

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Big things are happening in Dandenong and investors could be among the beneficiaries.Full summary Big things are happening in Dandenong and investors could be among the beneficiaries.

Located 30km southeast of Melbourne, this suburb is currently undergoing a program called Revitalising Central Dandenong, where more than $360m has been spent so far on infrastructure upgrades and other additions and improvements around the Dandenong CBD.

The area already boasts a healthy array of shops, education options and medical facilities.

With a median house price that’s still a lot cheaper than suburbs closer to Melbourne, Dandenong is definitely one to watch for investors who are not looking to spend a huge amount of money.

Since there hasn’t been a huge amount of capital growth in recent years, the near future could be Dandenong’s time to shine.

Houses on Birdwood Ave and Hemmings St are close to shops, schools, the Eastlink and the train station.

Two and three-bedroom houses can be bought in these streets for less than $420,000.
 Close
HOUSE UNIT
$510,000 $317,000
0.99% -0.94%
12.21% 3.93%
7.82% 6.44%
$340 $285
201 315
3.47% 4.68%
89.93 97.66

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
Find a mortgage broker in Dandenong VIC
Demographics
Total population 24919
Median household income ($/weekly) 832
Median age of persons 32
Median housing loan repayment ($/monthly) 1500
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 2735 11.0
    25-34 years 5118 20.5
    35-44 years 3456 13.9
    45-54 years 2654 10.7
    55-64 years 2151 8.6
    Others 8806 35.3
    Age Group
    Census Count Percent(%)
    Registered Married 8861 48.9
    Not Married 8545 47.1
    Defacto Relationship 722 4.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 7584 33.0
    Croatia 809 3.5
    Indonesia 2793 12.1
    Sri Lanka 1550 6.7
    Other 4902 21.3
    Others 5355 23.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 1401 6.2
    Christianity 10010 44.3
    Hinduism 1934 8.6
    Islam 6015 26.6
    No Religion 2350 10.4
    Others 898 4.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 1057 14.3
    $600-$799 989 13.4
    $800-$999 856 11.6
    $1,000-$1,249 780 10.6
    $1,500-$1,999 755 10.2
    Others 2935 39.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 8621 46.7
    Employed, worked full-time 5451 29.5
    Employed, worked part-time 2610 14.1
    Unemployed, looking for work 1098 5.9
    Employed, away from work 676 3.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 931 10.7
    Technicians & trades workers 1565 17.9
    Clerical & administrative workers 959 11.0
    Machinery operators & drivers 1241 14.2
    Labourers 1649 18.9
    Others 2391 27.4
    Occupation
    Census Count Percent(%)
    Infants/Primary 1417 25.8
    Secondary 1387 25.3
    Technical or Further Educational Institution 938 17.1
    University or other Tertiary Institutions 792 14.4
    Other type of educational institution 636 11.6
    Others 323 5.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 11962 52.0
    Flat, unit or apartment 9431 41.0
    Semi-detached, row or terrace house, townhouse 1599 6.9
    House or flat attached to a shop, office 29 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 4296 54.0
    Fully owned 1940 24.4
    Being purchased 1657 20.8
    Other tenure type 57 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals