Suburb Profile Report for Mckinnon VIC (3204)

Mckinnon House: Median price $1,660,000, Annual capital growth 10.47%, Number of sales 58, Weekly median advertised rent $650

Mckinnon Unit: Median price $708,000, Annual capital growth 6.85%, 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

VIC has seen average median house prices change by 8.27% which means that Mckinnon, 3204 has done well for property investors by showing a capital gain of 16.90% over the last year

Mckinnon,3204 has offered an average of 16.90% 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 -5.91% offered to property buyers. Sellers in Mckinnon itself are offering an average vendor discount of -10.26% to real estate investors.

Property value increases in Mckinnon have tracked close to the VIC average of 3.49% over the last 12 months.

While Mckinnon,3204 ranked number 7th in VIC for increase in median house value (annualised) increase, it is ranked 134th over the last 5 years.

LACK OF BUYER INTEREST may well be the reason that Mckinnon is offering property investors an average of -5.13. This rate of discount on properties puts Suburb at number 10th in terms of most discounted suburbs in VIC

At number 285 in a list of fastest selling suburbs, Mckinnon is in the TOP 20% of suburbs in Australia with an average of days on market 53.64 for properties listed there.

Using the current median advertised rental of $450 and the average annual increase in value of a median property of 6.85%, investors should hope to achieve an overall return of 3.31%

Metrics i HOUSE UNIT
$1,660,000 $708,000
-0.30% 9.77%
16.90% 4.81%
10.47% 6.85%
$650 $450
58 52
2.04% 3.31%
66.57 53.64

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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Recent sales & rentals