Suburb Profile Report for Castlemaine VIC (3450)

Castlemaine House: Median price $421,250, Annual capital growth 6.27%, Number of sales 153, Weekly median advertised rent $320

Castlemaine Unit: Median price $335,000, Annual capital growth 5.24%, Number of sales 17, Weekly median advertised rent $290

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Castlemaine is an average performer in VIC when comparing median price capital growth over the last year. Castlemaine gave property investors a good capital gain figure when compared to the rest of the state, with 10.86%.

While Castlemaine,3450 ranked number 88th in VIC for increase in median house value (annualised) increase, it is ranked 307th over the last 5 years.

Property investors looking for a bargain in Castlemaine should be aiming for at least -4.92% off the asking price, which is the average vendor discount being achieved at the moment.

VIC has seen average median house prices change by 3.49% which means that Castlemaine, 3450 has done well for property investors by showing a capital gain of 8.06% over the last year

Taking the average capital gain, or increase in median house value, Castlemaine,3450 has racked up an average of 8.06% over the period. This ranks it number 953th in the whole country for real estate investors looking at median house price increases.

Our latest figures would indicate that property sellers in Castlemaine are currently offering property investors an average price cut of -3.12% below the asking price at the moment.

A $290 per week rent on the median house gives suburb investors a gross yield of circa 4.50%, without taking into account capital value appreciation, which has been averaging out at 5.24%.

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Castlemaine is located 38km south of Bendigo and 120km northwest of Melbourne. Once a gold mining town, Castlemaine’s economic activity now centres around manufacturing, agriculture and tourism, with its goldrush era architecture and history being major drawcards for visitors.Full summary

Castlemaine is located 38km south of Bendigo and 120km northwest of Melbourne. Once a gold mining town, Castlemaine’s economic activity now centres around manufacturing, agriculture and tourism, with its goldrush era architecture and history being major drawcards for visitors.

It’s also conveniently located at the junction of several major highways which lead to the major urban hubs of Bendigo, Ballarat and Melbourne amongst others. Castlemaine also benefits from having its own railway station, making the train journey to Bendigo less than 30 minutes long, and Melbourne a little over an hour and a half in duration.

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Metrics i HOUSE UNIT
$421,250 $335,000
5.31% 1.52%
10.86% 8.06%
6.27% 5.24%
$320 $290
153 17
3.95% 4.50%
104.67 163.37

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 6750
Median household income ($/weekly) 776
Median age of persons 48
Median housing loan repayment ($/monthly) 1216
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 790 11.7
    35-44 years 795 11.8
    45-54 years 928 13.7
    55-64 years 999 14.8
    65-74 years 827 12.3
    Others 2412 35.7
    Age Group
    Census Count Percent(%)
    Not Married 2369 47.4
    Registered Married 2110 42.2
    Defacto Relationship 516 10.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 5643 90.0
    New Zealand 23 0.4
    Papua New Guinea 62 1.0
    United Kingdom 264 4.2
    Other 106 1.7
    Others 169 2.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 115 2.0
    Christianity 3010 51.9
    Islam 18 0.3
    Other Religious Groups 54 0.9
    No Religion 2574 44.4
    Others 29 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 367 13.8
    $400-$599 459 17.3
    $600-$799 347 13.1
    $800-$999 276 10.4
    $1,000-$1,249 246 9.3
    Others 960 36.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2384 45.7
    Employed, worked full-time 1401 26.9
    Employed, worked part-time 1100 21.1
    Employed, away from work 175 3.4
    Unemployed, looking for work 155 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 301 11.3
    Professionals 659 24.7
    Technicians & trades workers 335 12.5
    Clerical & administrative workers 297 11.1
    Labourers 378 14.1
    Others 703 26.3
    Occupation
    Census Count Percent(%)
    Pre-school 109 8.0
    Infants/Primary 491 35.8
    Secondary 403 29.4
    Technical or Further Educational Institution 144 10.5
    University or other Tertiary Institutions 174 12.7
    Others 50 3.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5713 92.5
    Flat, unit or apartment 289 4.7
    Semi-detached, row or terrace house, townhouse 136 2.2
    Caravan, cabin, houseboat 23 0.4
    House or flat attached to a shop, office 14 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1303 46.5
    Being purchased 761 27.1
    Rented 721 25.7
    Other tenure type 18 0.6
    Tenure Type
Census 2011, ABS
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