Suburb Profile Report for Ormond VIC (3204)

Ormond House: Median price $1,500,000, Annual capital growth 9.20%, Number of sales 89, Weekly median advertised rent $630

Ormond Unit: Median price $488,500, Annual capital growth 5.18%, Number of sales 80, Weekly median advertised rent $380

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Ormond has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 0.00%

If we look at median property appreciation over just the last three months, Ormond has given property investors a paper return of -2.60%. This puts Suburb as 646 on a list of fastest fasting appreciating suburbs in VIC

Sellers are offering property buyers an average discount of -7.69% to buyers in Ormond at the moment, which is less than average for the rest of VIC.

Advertised rents are around the $630 mark per week – giving a return of 2.18% based on the median price in Suburb

At number 1456th in the list of Australian suburbs ordered by increase in median house value over the last year, Ormond, 3204 is in the BOTTOM 20% with a property value increase of -6.06% recorded in median house prices.

Over the longer term, Ormond has seen property prices show investors a -3.27% return over the last 3 years. This is worse than over the last 12 months

LACK OF BUYER INTEREST may well be the reason that Ormond is offering property investors an average of -4.87. This rate of discount on properties puts Suburb at number 86th in terms of most discounted suburbs in VIC

Often selling an investment property can take time, and in Ormond the average time real estate has been on the market is 66.59 days.

Using the current median advertised rental of $380 and the average annual increase in value of a median property of 5.18%, investors should hope to achieve an overall return of 4.05%

Metrics i HOUSE UNIT
$1,500,000 $488,500
-2.60% -12.92%
0.00% -6.06%
9.20% 5.18%
$630 $380
89 80
2.18% 4.05%
77.46 66.59

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 7710
Median household income ($/weekly) 1436
Median age of persons 35
Median housing loan repayment ($/monthly) 2000
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 976 12.7
    25-34 years 1328 17.2
    35-44 years 1252 16.2
    45-54 years 1073 13.9
    55-64 years 758 9.8
    Others 2323 30.1
    Age Group
    Census Count Percent(%)
    Registered Married 2892 48.9
    Not Married 2574 43.6
    Defacto Relationship 443 7.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 4613 62.2
    Croatia 339 4.6
    Indonesia 526 7.1
    United Kingdom 254 3.4
    Other 692 9.3
    Others 989 13.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 196 2.7
    Christianity 3453 48.4
    Hinduism 460 6.4
    Judaism 812 11.4
    No Religion 2052 28.7
    Others 167 2.3
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 228 8.3
    $1,000-$1,249 226 8.2
    $1,500-$1,999 355 12.9
    $2,000-$2,499 228 8.3
    $2,500-$2,999 289 10.5
    Others 1426 51.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2573 42.6
    Not in the labour force 1713 28.4
    Employed, worked part-time 1324 21.9
    Unemployed, looking for work 232 3.8
    Employed, away from work 195 3.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 575 14.1
    Professionals 1359 33.2
    Technicians & trades workers 404 9.9
    Clerical & administrative workers 619 15.1
    Sales 380 9.3
    Others 755 18.5
    Occupation
    Census Count Percent(%)
    Pre-school 133 6.5
    Infants/Primary 663 32.2
    Secondary 470 22.8
    Technical or Further Educational Institution 180 8.7
    University or other Tertiary Institutions 544 26.4
    Others 70 3.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4377 59.1
    Flat, unit or apartment 2032 27.4
    Semi-detached, row or terrace house, townhouse 918 12.4
    House or flat attached to a shop, office 80 1.1
    Improvised home, tent, sleepers out 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1138 38.6
    Being purchased 936 31.7
    Fully owned 864 29.3
    Other tenure type 14 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals