Suburb Profile Report for Herne Hill VIC (3218)

Herne Hill House: Median price $429,000, Annual capital growth 6.38%, Number of sales 68, Weekly median advertised rent $335

Herne Hill Unit: Median price $245,000, Annual capital growth 5.60%, Number of sales 25, Weekly median advertised rent $223

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

Source: CoreLogic

  • House Report
  • Unit Report

With a capital gain of 10.00% for the last 12 months, Herne Hill, 3218 has performed for property investments than its average annual 6.38% property growth over the last 5 years.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Herne Hill has increased when compared to the 5 year average annual rate.

Sellers are offering property buyers an average discount of -3.18% to buyers in Herne Hill at the moment, which is less than average for the rest of VIC.

Using the current median advertised rental of $335 and the average annual increase in value of a median property of 6.38%, investors should hope to achieve an overall return of 4.06%

Over the last year, property investments in Herne Hill, 3218 have given investors a capital gain of 16.67%. This compares very favourably with the 4.79% for VIC as a whole.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Herne Hill has increased when compared to the 5 year average annual rate.

Property buyers and investors in Herne Hill 3218 should be seeing an average reduction in asking price of around -4.39% . This means that Herne Hill is holding prices well when compared to other suburbs in VIC.

On average over the past year, suburb has had 2.08 sales per month, which equates to 25 per year.

Advertised rents are around the $222.5 mark per week – giving a return of 4.72% based on the median price in Suburb

Metrics i HOUSE UNIT
$429,000 $245,000
3.37% 6.29%
10.00% 16.67%
6.38% 5.60%
$335 $223
68 25
4.06% 4.72%
35.88 74.52

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
Find a mortgage broker in Herne Hill VIC
Demographics
Total population 3322
Median household income ($/weekly) 917
Median age of persons 39
Median housing loan repayment ($/monthly) 1300
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 315 9.5
    25-34 years 519 15.6
    35-44 years 451 13.6
    45-54 years 463 13.9
    55-64 years 355 10.7
    Others 1220 36.7
    Age Group
    Census Count Percent(%)
    Not Married 1268 49.3
    Registered Married 1032 40.1
    Defacto Relationship 272 10.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 2730 88.1
    New Zealand 19 0.6
    Papua New Guinea 40 1.3
    United Kingdom 105 3.4
    Other 66 2.1
    Others 137 4.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 27 0.9
    Christianity 2072 70.2
    Islam 25 0.8
    Other Religious Groups 18 0.6
    No Religion 794 26.9
    Others 14 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 141 10.4
    $400-$599 201 14.8
    $600-$799 166 12.2
    $1,000-$1,249 136 10.0
    $1,500-$1,999 175 12.9
    Others 537 39.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 984 37.2
    Not in the labour force 940 35.6
    Employed, worked part-time 516 19.5
    Employed, away from work 117 4.4
    Unemployed, looking for work 86 3.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 275 17.0
    Technicians & trades workers 275 17.0
    Community & personal service workers 212 13.1
    Clerical & administrative workers 202 12.5
    Labourers 196 12.1
    Others 457 28.3
    Occupation
    Census Count Percent(%)
    Infants/Primary 186 29.7
    Secondary 167 26.7
    Technical or Further Educational Institution 89 14.2
    University or other Tertiary Institutions 116 18.5
    Other type of educational institution 35 5.6
    Others 33 5.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2582 83.4
    Flat, unit or apartment 495 16.0
    Semi-detached, row or terrace house, townhouse 19 0.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 498 34.5
    Rented 488 33.8
    Being purchased 455 31.5
    Other tenure type 3 0.2
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals