Suburb Profile Report for Mckinnon VIC (3204)

Mckinnon House: Median price $1,660,000, Annual capital growth 10.39%, Number of sales 59, Weekly median advertised rent $590

Mckinnon Unit: Median price $661,501, Annual capital growth 6.50%, Number of sales 52, Weekly median advertised rent $450

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

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Mckinnon, 3204 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 18.57%.

Mckinnon,3204 was ranked 2336 in Australia by increase in median property value over the quarter.

Property buyers and investors in Mckinnon 3204 should be seeing an average reduction in asking price of around -29.40% . This means that Mckinnon is holding prices well when compared to other suburbs in VIC.

The VIC suburb of Mckinnon, 3204 is in the Glen Eira local government area.

Mckinnon is in the bottom 10% in VIC when comparing median price capital growth over the last year. Mckinnon gave property investors a dismal capital gain figure when compared to the rest of the state, with -9.18%.

The five-year average increase in median property values for Mckinnon,3204 has given property investors a potential capital gain of 9.34% across each of those five years.

Mckinnon, 3204 is offering VIC ‘s 12th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this VIC.

In the last year 52 properties changed hands in Mckinnon, which puts it as the 171th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Mckinnon being $661501 and the advertised rent reaching $450 the gross rental yield for property investors calculates out to be 3.54%

Metrics i HOUSE UNIT
$1,660,000 $661,501
0.61% 1.77%
18.57% -9.18%
10.39% 6.50%
$590 $450
59 52
1.85% 3.54%
63.41 57.6

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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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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