Suburb Profile Report for South Morang VIC (3752)

South Morang House: Median price $502,250, Annual capital growth 4.63%, Number of sales 322, Weekly median advertised rent $370

South Morang Unit: Median price $350,000, Annual capital growth 2.75%, Number of sales 77, Weekly median advertised rent $320

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in South Morang have tracked just higher than the VIC average of 8.12% over the last 12 months.

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

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in South Morang, 3752. Typically our figures indicate that -3.84% is being offered, which puts this VIC suburb at 3293th most discounted overall in Australia.

In the last year 322 properties changed hands in South Morang, which puts it as the 50th most active market in VIC when comparing the number of sales per suburb.

At number 1238th in the list of Australian suburbs ordered by increase in median house value over the last year, South Morang, 3752 is in the BOTTOM 30% with a property value increase of -1.69% recorded in median house prices.

The five-year average increase in median property values for South Morang,3752 has given property investors a potential capital gain of 0.00% across each of those five years.

At number 214th of VIC’s most discounted properties, South Morang is in the TOP 40% of the state/territory when listing in order of most discounted to least.

Residents and property investors in South Morang have been waiting around 93.32 days to sell a property.

South Morang, 3752’s gross rental yield is 4.75%

Sugath Warnasuriya Information supplied by:

Sugath Warnasuriya
Stockdale & Leggo

M 03 9407 9100
O 0422 577 353

W www.stockdaleleggo.com.au/southmorang
E sugath@stockdaleleggo.com.au
South Morang has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.70% to date.
Across a shorter period, South Morang, 3752 has seen a median price increase of -1.46% over the last quarter.

At number 481th of VIC’s most discounted properties, South Morang is in the TOP 30% of the state/territory when listing in order of most discounted to least.

A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.49%, without taking into account capital value appreciation, which has been averaging out at 4.42%.Full summary
A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.49%, without taking into account capital value appreciation, which has been averaging out at 4.42%.
 
Selling points: Properties close proximity to Westfield Shopping Centre, South Morang train station, and within easy access to Plenty Road
 
Most sought after properties: 3-4 bedroom homes up to $450,000 in value. This is the most popular price bracket for 1st home buyers. As a buyer you can also buy a property under 9 years old in most cases in this price bracket. 
 
Most common properties: 3-4 bedroom homes of about 25 sq on an average block size of 450 sqm. Most of these homes are under 10 years old that attracts lots of young home buyers. Most common buyer group is between the ages of 25-35 years based on our experience
 
Top amenities:
 
South Morang train station
Westfield Plenty Valley
There are number of retirement villages. 
 
Local industry and business:
 
Whittlesea Council also located in South Morang
 
There are number of shopping centres in and around South Morang- Westfield Plenty Valley (bordering Mill Park), 
Numbers of medical centres are available in the area and there is a newly opened Super Clinique closer to South Morang Train Station. 
 
Recent Changes
 
We can identify a trend that shows buyers who sell older homes in Mill Park area are actively moving into South Morang area to upgrade their lifestyle. This means South Morang is a popular suburb for 2nd home buyers as well. 
 
This buyer activity should push up the home values in South Morang area over the coming years. 
 
Best Streets 
 
Meridian Drive
Gordons Road
Skyline Drive
 
Public Transport
 
South Morang train station 
Bus 
 
Main Arteries
 
Plenty Road
McDonalds Road 

 

Close
Metrics i HOUSE UNIT
$502,250 $350,000
1.46% -1.69%
11.61% -1.69%
4.63% 2.75%
$370 $320
322 77
3.83% 4.75%
61.3 93.32

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
Find a mortgage broker in South Morang VIC
Demographics
Total population 20873
Median household income ($/weekly) 1576
Median age of persons 31
Median housing loan repayment ($/monthly) 2000
Average household size 3.1
  • Census Count Percent(%)
    0-4 years 2009 9.6
    5-14 years 3430 16.4
    25-34 years 3596 17.2
    35-44 years 3933 18.8
    45-54 years 2425 11.6
    Others 5481 26.3
    Age Group
    Census Count Percent(%)
    Registered Married 8121 56.5
    Not Married 5020 35.0
    Defacto Relationship 1221 8.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 14661 73.3
    Germany 533 2.7
    Indonesia 795 4.0
    Japan 529 2.6
    Other 832 4.2
    Others 2649 13.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 400 2.1
    Christianity 14368 74.0
    Hinduism 556 2.9
    Islam 634 3.3
    No Religion 3082 15.9
    Others 375 1.9
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 592 10.2
    $1,250-$1,499 572 9.9
    $1,500-$1,999 1137 19.6
    $2,000-$2,499 861 14.9
    $2,500-$2,999 528 9.1
    Others 2098 36.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 6990 47.6
    Not in the labour force 3724 25.4
    Employed, worked part-time 2847 19.4
    Employed, away from work 619 4.2
    Unemployed, looking for work 494 3.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 1130 10.8
    Professionals 1666 15.9
    Technicians & trades workers 1616 15.5
    Clerical & administrative workers 1852 17.7
    Sales 1245 11.9
    Others 2950 28.2
    Occupation
    Census Count Percent(%)
    Pre-school 496 9.2
    Infants/Primary 2182 40.6
    Secondary 1530 28.5
    Technical or Further Educational Institution 386 7.2
    University or other Tertiary Institutions 636 11.8
    Others 145 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 17113 86.3
    Semi-detached, row or terrace house, townhouse 2487 12.5
    Flat, unit or apartment 239 1.2
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 3928 62.5
    Rented 1184 18.8
    Fully owned 1146 18.2
    Other tenure type 29 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals