Suburb Profile Report for Pakenham VIC (3810)

Pakenham House: Median price $451,000, Annual capital growth 6.21%, Number of sales 1190, Weekly median advertised rent $350

Pakenham Unit: Median price $325,000, Annual capital growth 3.82%, Number of sales 143, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Pakenham has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 15.64%

Pakenham,3810 was ranked 727 in Australia by increase in median property value over the quarter.

Vendor discounting in Pakenham is giving property investors an average Vendor Discount of around -3.35%. This puts suburb at number 512th in VIC when ranking the most discounted suburbs.

At number 269 in a list of fastest selling suburbs, Pakenham is in the TOP 10% of suburbs in Australia with an average of days on market 35.28 for properties listed there.

Pakenham, 3810’s gross rental yield is 4.04%

At number 583th in the list of Australian suburbs ordered by increase in median house value over the last year, Pakenham, 3810 is in the top 40% with a property value increase of 8.33% recorded in median house prices.

Over the longer term, Pakenham has seen property prices show investors a 18.18% return over the last 3 years. This is worse than over the last 12 months

At number 291th of VIC’s most discounted properties, Pakenham is in the TOP 10% of the state/territory when listing in order of most discounted to least.

Property investors should expect to get $300 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$451,000 $325,000
4.88% 1.56%
15.64% 8.33%
6.21% 3.82%
$350 $300
1190 143
4.04% 4.80%
35.28 42.52

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 33998
Median household income ($/weekly) 1229
Median age of persons 30
Median housing loan repayment ($/monthly) 1777
Average household size 2.7
  • Census Count Percent(%)
    0-4 years 3526 10.4
    5-14 years 5048 14.8
    25-34 years 6279 18.5
    35-44 years 5098 15.0
    45-54 years 3438 10.1
    Others 10610 31.2
    Age Group
    Census Count Percent(%)
    Registered Married 11322 48.1
    Not Married 8868 37.7
    Defacto Relationship 3337 14.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 25904 79.9
    Indonesia 414 1.3
    Papua New Guinea 792 2.4
    United Kingdom 2012 6.2
    Other 1190 3.7
    Others 2100 6.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 436 1.4
    Christianity 19608 63.7
    Islam 316 1.0
    Other Religious Groups 273 0.9
    No Religion 9841 32.0
    Others 295 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 1080 10.1
    $1,000-$1,249 1191 11.1
    $1,250-$1,499 1124 10.5
    $1,500-$1,999 1719 16.1
    $2,000-$2,499 1228 11.5
    Others 4347 40.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 10719 44.2
    Not in the labour force 7484 30.9
    Employed, worked part-time 4257 17.5
    Unemployed, looking for work 926 3.8
    Employed, away from work 872 3.6
    Person Characteristics
  • Census Count Percent(%)
    Professionals 2051 12.9
    Technicians & trades workers 2928 18.5
    Clerical & administrative workers 2410 15.2
    Sales 1756 11.1
    Labourers 1839 11.6
    Others 4863 30.7
    Occupation
    Census Count Percent(%)
    Pre-school 836 10.4
    Infants/Primary 3239 40.1
    Secondary 2033 25.2
    Technical or Further Educational Institution 894 11.1
    University or other Tertiary Institutions 704 8.7
    Others 369 4.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 29830 92.3
    Semi-detached, row or terrace house, townhouse 1437 4.4
    Flat, unit or apartment 989 3.1
    Caravan, cabin, houseboat 74 0.2
    House or flat attached to a shop, office 6 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 5726 49.6
    Rented 3373 29.2
    Fully owned 2233 19.4
    Other tenure type 206 1.8
    Tenure Type
Census 2011, ABS
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Recent sales & rentals