Suburb Profile Report for Romsey VIC (3434)

Romsey House: Median price $432,500, Annual capital growth 4.69%, Number of sales 68, Weekly median advertised rent $350

Romsey Unit: Median price $321,000, Annual capital growth 0.31%, Number of sales 14, Weekly median advertised rent $315

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Romsey has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 5.49%

Taking the average capital gain, or increase in median house value, Romsey,3434 has racked up an average of 5.49% over the period. This ranks it number 2164th in the whole country for real estate investors looking at median house price increases.

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 Romsey itself are offering an average vendor discount of -5.81% to real estate investors.

A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.21%, without taking into account capital value appreciation, which has been averaging out at 4.69%.

At number 1054th in the list of Australian suburbs ordered by increase in median house value over the last year, Romsey, 3434 is in the BOTTOM 40% with a property value increase of 0.31% recorded in median house prices.

In the last year 14 properties changed hands in Romsey, which puts it as the 345th most active market in VIC when comparing the number of sales per suburb.

Advertised rents are around the $315 mark per week – giving a return of 5.10% based on the median price in Suburb

HOUSE UNIT
$432,500 $321,000
2.37% N/A
5.49% 0.31%
4.69% 0.31%
$350 $315
68 14
4.21% 5.10%
108.28 N/A

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 4411
Median household income ($/weekly) 1401
Median age of persons 38
Median housing loan repayment ($/monthly) 1543
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 744 16.9
    25-34 years 422 9.6
    35-44 years 713 16.2
    45-54 years 668 15.1
    55-64 years 561 12.7
    Others 1304 29.6
    Age Group
    Census Count Percent(%)
    Registered Married 1763 56.3
    Not Married 1052 33.6
    Defacto Relationship 316 10.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 3790 89.0
    Greece 28 0.7
    Papua New Guinea 45 1.1
    United Kingdom 200 4.7
    Other 46 1.1
    Others 151 3.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 24 0.6
    Christianity 2794 69.2
    Islam 9 0.2
    Other Religious Groups 14 0.3
    No Religion 1192 29.5
    Others 4 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 117 9.0
    $1,000-$1,249 140 10.7
    $1,250-$1,499 124 9.5
    $1,500-$1,999 202 15.5
    $2,000-$2,499 159 12.2
    Others 561 43.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1343 41.3
    Not in the labour force 979 30.1
    Employed, worked part-time 685 21.1
    Employed, away from work 155 4.8
    Unemployed, looking for work 87 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 244 11.2
    Professionals 346 15.8
    Technicians & trades workers 437 20.0
    Community & personal service workers 233 10.7
    Clerical & administrative workers 297 13.6
    Others 626 28.7
    Occupation
    Census Count Percent(%)
    Pre-school 93 8.0
    Infants/Primary 487 41.7
    Secondary 379 32.4
    Technical or Further Educational Institution 70 6.0
    University or other Tertiary Institutions 100 8.6
    Others 39 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4125 98.4
    Flat, unit or apartment 49 1.2
    Semi-detached, row or terrace house, townhouse 17 0.4
    Improvised home, tent, sleepers out 3 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 809 55.8
    Fully owned 455 31.4
    Rented 174 12.0
    Other tenure type 13 0.9
    Tenure Type
Census 2011, ABS
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