Suburb Profile Report for Mckinnon VIC (3204)

Mckinnon House: Median price $1,660,000, Annual capital growth 9.66%, Number of sales 58, Weekly median advertised rent $650

Mckinnon Unit: Median price $780,000, Annual capital growth 6.24%, Number of sales 64, Weekly median advertised rent $460

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

Source: CoreLogic

  • House Report
  • Unit Report

Mckinnon, 3204 ranked 578th in VIC when comparing growth in median property values or capital gain over the last 12 months. Mckinnon is one of 2098 in our list for VIC

Comparing Mckinnon,3204 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Sellers are offering property buyers an average discount of -16.51% to buyers in Mckinnon at the moment, which is less than average for the rest of VIC.

Often selling an investment property can take time, and in Mckinnon the average time real estate has been on the market is 44 days.

Using the current median advertised rental of $650 and the average annual increase in value of a median property of 9.66%, investors should hope to achieve an overall return of 2.04%

With a capital gain of 25.30% for the last 12 months, Mckinnon, 3204 has performed for property investments than its average annual 6.24% property growth over the last 5 years.

The five-year average increase in median property values for Mckinnon,3204 has given property investors a potential capital gain of 28.71% across each of those five years.

Property buyers and investors in Mckinnon 3204 should be seeing an average reduction in asking price of around -4.43% . This means that Mckinnon is holding prices well when compared to other suburbs in VIC.

A $460 per week rent on the median house gives suburb investors a gross yield of circa 3.07%, without taking into account capital value appreciation, which has been averaging out at 6.24%.

Metrics i HOUSE UNIT
$1,660,000 $780,000
-0.93% 10.87%
1.84% 25.30%
9.66% 6.24%
$650 $460
58 64
2.04% 3.07%
44 51.61

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 5554
Median household income ($/weekly) 1787
Median age of persons 40
Median housing loan repayment ($/monthly) 2024
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 915 16.5
    25-34 years 452 8.1
    35-44 years 941 16.9
    45-54 years 917 16.5
    55-64 years 594 10.7
    Others 1734 31.2
    Age Group
    Census Count Percent(%)
    Registered Married 2111 53.6
    Not Married 1548 39.3
    Defacto Relationship 283 7.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3720 69.1
    Croatia 193 3.6
    South Africa 103 1.9
    United Kingdom 219 4.1
    Other 433 8.0
    Others 713 13.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 92 1.8
    Christianity 2739 52.9
    Hinduism 63 1.2
    Judaism 593 11.5
    No Religion 1633 31.5
    Others 57 1.1
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 185 11.1
    $2,000-$2,499 142 8.5
    $2,500-$2,999 255 15.3
    $3,000-$3,499 156 9.4
    $4,000 or more 123 7.4
    Others 806 48.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1650 39.6
    Not in the labour force 1315 31.6
    Employed, worked part-time 945 22.7
    Employed, away from work 141 3.4
    Unemployed, looking for work 115 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 449 16.4
    Professionals 929 34.0
    Technicians & trades workers 254 9.3
    Clerical & administrative workers 372 13.6
    Sales 284 10.4
    Others 448 16.4
    Occupation
    Census Count Percent(%)
    Pre-school 131 7.9
    Infants/Primary 602 36.4
    Secondary 489 29.6
    Technical or Further Educational Institution 96 5.8
    University or other Tertiary Institutions 303 18.3
    Others 33 2.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3850 74.0
    Semi-detached, row or terrace house, townhouse 914 17.6
    Flat, unit or apartment 377 7.2
    House or flat attached to a shop, office 60 1.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 709 38.9
    Fully owned 657 36.1
    Rented 446 24.5
    Other tenure type 10 0.5
    Tenure Type
Census 2011, ABS
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