Suburb Profile Report for Carrum VIC (3197)

Carrum House: Median price $700,000, Annual capital growth 8.64%, Number of sales 51, Weekly median advertised rent $410

Carrum Unit: Median price $530,000, Annual capital growth 7.33%, Number of sales 76, Weekly median advertised rent $380

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

Source: CoreLogic

  • House Report
  • Unit Report

Over the last year, property investments in Carrum, 3197 have given investors a capital gain of 16.47%. This compares very favourably with the 7.68% for VIC as a whole.

Carrum,3197 was ranked 154 in Australia by increase in median property value over the quarter.

LACK OF BUYER INTEREST may well be the reason that Carrum is offering property investors an average of -6.04. This rate of discount on properties puts Suburb at number 599th in terms of most discounted suburbs in VIC

On average over the past year, suburb has had 4.25 sales per month, which equates to 51 per year.

Carrum, 3197’s gross rental yield is 3.05%

Property value increases in Carrum have tracked close to the VIC average of 3.19% over the last 12 months.

The five-year average increase in median property values for Carrum,3197 has given property investors a potential capital gain of 23.26% across each of those five years.

At number 172th of VIC’s most discounted properties, Carrum is in the middle of the state/territory when listing in order of most discounted to least.

Residents and property investors in Carrum have been waiting around 54.3 days to sell a property.

Situated 32.55km from the CBD, Carrum is one of Kingston localities in the postcode 3197.

HOUSE UNIT
$700,000 $530,000
11.02% 3.82%
16.47% 4.95%
8.64% 7.33%
$410 $380
51 76
3.05% 3.73%
67.35 54.3

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 3602
Median household income ($/weekly) 1140
Median age of persons 38
Median housing loan repayment ($/monthly) 1738
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 338 9.4
    25-34 years 579 16.1
    35-44 years 573 15.9
    45-54 years 501 13.9
    55-64 years 446 12.4
    Others 1165 32.3
    Age Group
    Census Count Percent(%)
    Not Married 1274 46.5
    Registered Married 1107 40.4
    Defacto Relationship 359 13.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 2619 77.7
    Japan 24 0.7
    Papua New Guinea 90 2.7
    United Kingdom 234 6.9
    Other 130 3.9
    Others 275 8.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 48 1.5
    Christianity 1992 62.6
    Islam 20 0.6
    Other Religious Groups 35 1.1
    No Religion 1069 33.6
    Others 17 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 140 10.2
    $600-$799 129 9.4
    $1,000-$1,249 125 9.1
    $1,500-$1,999 169 12.3
    $2,000-$2,499 147 10.7
    Others 663 48.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1183 42.1
    Not in the labour force 903 32.1
    Employed, worked part-time 514 18.3
    Employed, away from work 107 3.8
    Unemployed, looking for work 104 3.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 203 11.3
    Professionals 346 19.2
    Technicians & trades workers 323 17.9
    Community & personal service workers 178 9.9
    Clerical & administrative workers 288 16.0
    Others 465 25.8
    Occupation
    Census Count Percent(%)
    Pre-school 52 8.0
    Infants/Primary 208 31.9
    Secondary 177 27.1
    Technical or Further Educational Institution 71 10.9
    University or other Tertiary Institutions 108 16.5
    Others 37 5.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2195 65.4
    Semi-detached, row or terrace house, townhouse 714 21.3
    Flat, unit or apartment 432 12.9
    House or flat attached to a shop, office 12 0.4
    Improvised home, tent, sleepers out 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 525 35.4
    Rented 504 34.0
    Fully owned 445 30.0
    Other tenure type 9 0.6
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals