Suburb Profile Report for Clifton Springs VIC (3222)

Clifton Springs House: Median price $350,000, Annual capital growth 3.63%, Number of sales 170, Weekly median advertised rent $320

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

Source: CoreLogic

  • House Report
  • Expert Report

VIC has seen average median house prices change by 7.80% which means that Clifton Springs, 3222 has done well for property investors by showing a capital gain of -2.78% over the last year

Comparing Clifton Springs,3222 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Clifton Springs itself are offering an average vendor discount of -4.65% to real estate investors.

YIP MAG Information supplied by:

YIP MAG
September 2016

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While on a clear day you might be able to look across Port Phillip and spot Melbourne, the strong conditions in the Victorian capital have not crossed the water to Clifton Springs.Full summary While on a clear day you might be able to look across Port Phillip and spot Melbourne, the strong conditions in the Victorian capital have not crossed the water to Clifton Springs.

‘Stagnant’ is probably the best descriptor for the market in Clifton Springs over recent years.

In this suburb around a 20-minute drive from Geelong, the median house price currently sits at $395,000, according to CoreLogic, and the last 12 months have seen this go backwards by 1%.

Over the past three years Clifton Springs has only recorded house price growth of 6%, so it’s unsurprising that houses are currently on the market for an average of 85 days before selling.

One positive for Clifton Springs is its tight rental market, with the current vacancy rate at just 1.33%.

A weekly median rent of $318 means landlords can expect to see yields of around 5%Close
HOUSE UNIT
$350,000 N/A
-1.69% N/A
-2.78% N/A
3.63% N/A
$320 N/A
170 N/A
4.75% N/A
89.82 N/A

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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Demographics
Total population 7153
Median household income ($/weekly) 1041
Median age of persons 42
Median housing loan repayment ($/monthly) 1484
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 858 12.0
    35-44 years 826 11.5
    45-54 years 999 14.0
    55-64 years 1003 14.0
    65-74 years 827 11.6
    Others 2641 36.9
    Age Group
    Census Count Percent(%)
    Registered Married 3037 56.2
    Not Married 1910 35.3
    Defacto Relationship 461 8.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 5916 85.6
    Greece 49 0.7
    Papua New Guinea 74 1.1
    United Kingdom 519 7.5
    Other 66 1.0
    Others 287 4.2
    Country of Birth
    Census Count Percent(%)
    Christianity 4581 70.1
    No Religion 1872 28.7
    Buddhism 47 0.7
    Other Religious Groups 22 0.3
    Islam 10 0.2
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 292 12.0
    $600-$799 293 12.1
    $800-$999 292 12.0
    $1,000-$1,249 248 10.2
    $1,500-$1,999 318 13.1
    Others 984 40.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2275 40.3
    Employed, worked full-time 1859 32.9
    Employed, worked part-time 1141 20.2
    Employed, away from work 218 3.9
    Unemployed, looking for work 155 2.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 484 15.0
    Technicians & trades workers 634 19.7
    Community & personal service workers 415 12.9
    Clerical & administrative workers 414 12.9
    Labourers 375 11.6
    Others 899 27.9
    Occupation
    Census Count Percent(%)
    Pre-school 130 8.2
    Infants/Primary 543 34.2
    Secondary 502 31.6
    Technical or Further Educational Institution 187 11.8
    University or other Tertiary Institutions 164 10.3
    Others 61 3.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6725 98.5
    Flat, unit or apartment 47 0.7
    Semi-detached, row or terrace house, townhouse 37 0.5
    House or flat attached to a shop, office 17 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1084 41.0
    Fully owned 1076 40.7
    Rented 474 17.9
    Other tenure type 7 0.3
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals