Suburb Profile Report for Mernda VIC (3754)

Mernda House: Median price $430,000, Annual capital growth 5.05%, Number of sales 336, Weekly median advertised rent $350

Mernda Unit: Median price $301,000, Annual capital growth 1.13%, Number of sales 19, Weekly median advertised rent $295

  • 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 8.06% which means that Mernda, 3754 has done well for property investors by showing a capital gain of 5.13% over the last year

A 8.86% growth in median value for property investors in Mernda,3754 puts this suburb at number 431th in terms of best performing suburbs in VIC

Vendor discounting in Mernda is giving property investors an average Vendor Discount of around -3.79%. This puts suburb at number 522th in VIC when ranking the most discounted suburbs.

At number 2014 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 84.5 for properties listed there.

Using the current median advertised rental of $350 and the average annual increase in value of a median property of 5.05%, investors should hope to achieve an overall return of 4.23%

Mernda is in the bottom 20% in VIC when comparing median price capital growth over the last year. Mernda gave property investors a dismal capital gain figure when compared to the rest of the state, with -4.44%.

When looking at the potential capital gains offered to property investors over the last 3 years, Mernda comes in at number 347th in VIC.

Property investors looking for a bargain in Mernda should be aiming for at least -4.31% off the asking price, which is the average vendor discount being achieved at the moment.

Mernda is 71th on a list of best yielding suburbs for rents in VIC with a 5.10% return

HOUSE UNIT
$430,000 $301,000
1.18% -0.99%
5.13% -4.44%
5.05% 1.13%
$350 $295
336 19
4.23% 5.10%
84.5 129.62

Source: CoreLogic

DSR Score for property investment : Above average (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
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Recent sales & rentals