Suburb Profile Report for Mernda VIC (3754)

Mernda House: Median price $429,950, Annual capital growth 4.40%, Number of sales 328, Weekly median advertised rent $350

Mernda Unit: Median price $302,500, Annual capital growth 1.35%, Number of sales 20, Weekly median advertised rent $275

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

Source: CoreLogic

  • House Report
  • Unit Report

VIC has seen average median house prices change by 7.68% which means that Mernda, 3754 has done well for property investors by showing a capital gain of 6.16% over the last year

Across a shorter period, Mernda, 3754 has seen a median price increase of 1.19% over the last quarter.

Property investors looking for a bargain in Mernda should be aiming for at least -3.87% off the asking price, which is the average vendor discount being achieved at the moment.

At number 2049 in a list of fastest selling suburbs, Mernda is just in the bottom half of suburbs in Australia with an average of days on market 86.1 for properties listed there.

Advertised rents are around the $350 mark per week – giving a return of 4.23% based on the median price in Suburb

Property value increases in Mernda have tracked just lower than the VIC average of 3.19% over the last 12 months.

Mernda,3754 was ranked 1098 in Australia by increase in median property value over the quarter.

Property buyers and investors in Mernda 3754 should be seeing an average reduction in asking price of around -4.31% . This means that Mernda is holding prices well when compared to other suburbs in VIC.

On average over the past year, suburb has had 1.67 sales per month, which equates to 20 per year.

Renters in Suburb are facing rents around $3300 per annum or $275 every week.

HOUSE UNIT
$429,950 $302,500
1.19% -0.49%
6.16% -1.63%
4.40% 1.35%
$350 $275
328 20
4.23% 4.73%
86.1 129.62

Source: CoreLogic

DSR Score for property investment : Good (H), Balanced (U)
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Demographics
Total population 6507
Median household income ($/weekly) 1597
Median age of persons 29
Median housing loan repayment ($/monthly) 2167
Average household size 2.8
  • Census Count Percent(%)
    0-4 years 741 11.4
    5-14 years 896 13.8
    25-34 years 1603 24.6
    35-44 years 1177 18.1
    45-54 years 665 10.2
    Others 1426 21.9
    Age Group
    Census Count Percent(%)
    Registered Married 2437 52.6
    Not Married 1478 31.9
    Defacto Relationship 714 15.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 4948 78.7
    Indonesia 119 1.9
    Japan 87 1.4
    United Kingdom 220 3.5
    Other 199 3.2
    Others 718 11.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 113 1.9
    Christianity 4262 70.1
    Hinduism 115 1.9
    Islam 160 2.6
    No Religion 1385 22.8
    Others 45 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 226 11.1
    $1,250-$1,499 216 10.6
    $1,500-$1,999 387 19.0
    $2,000-$2,499 353 17.3
    $2,500-$2,999 182 8.9
    Others 677 33.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2536 53.7
    Not in the labour force 945 20.0
    Employed, worked part-time 868 18.4
    Employed, away from work 218 4.6
    Unemployed, looking for work 154 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 426 11.8
    Professionals 646 17.8
    Technicians & trades workers 633 17.5
    Clerical & administrative workers 591 16.3
    Sales 370 10.2
    Others 954 26.4
    Occupation
    Census Count Percent(%)
    Pre-school 186 11.9
    Infants/Primary 621 39.9
    Secondary 348 22.4
    Technical or Further Educational Institution 157 10.1
    University or other Tertiary Institutions 195 12.5
    Others 50 3.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6046 95.6
    Semi-detached, row or terrace house, townhouse 250 4.0
    Flat, unit or apartment 22 0.3
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1503 68.6
    Rented 407 18.6
    Fully owned 271 12.4
    Other tenure type 11 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals