Suburb Profile Report for Pakenham VIC (3810)

Pakenham House: Median price $390,000, Annual capital growth 4.84%, Number of sales 1047, Weekly median advertised rent $340

Pakenham Unit: Median price $300,000, Annual capital growth 3.10%, Number of sales 117, Weekly median advertised rent $290

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

Source: CoreLogic

  • House Report
  • Unit Report

With a capital gain of 7.29% for the last 12 months, Pakenham, 3810 has performed for property investments than its average annual 4.84% property growth over the last 5 years.

While Pakenham,3810 ranked number 396th in VIC for increase in median house value (annualised) increase, it is ranked 445th over the last 5 years.

Our latest figures would indicate that property sellers in Pakenham are currently offering property investors an average price cut of -3.17% below the asking price at the moment.

Residents and property investors in Pakenham have been waiting around 55.03 days to sell a property.

Renters in Suburb are facing rents around $4080 per annum or $340 every week.

VIC has seen average median house prices change by 3.19% which means that Pakenham, 3810 has done well for property investors by showing a capital gain of 7.14% over the last year

The five-year average increase in median property values for Pakenham,3810 has given property investors a potential capital gain of 11.11% across each of those five years.

Property buyers and investors in Pakenham 3810 should be seeing an average reduction in asking price of around -2.00% . This means that Pakenham is holding prices well when compared to other suburbs in VIC.

Pakenham, 3810’s gross rental yield is 5.03%

HOUSE UNIT
$390,000 $300,000
1.30% 3.45%
7.29% 7.14%
4.84% 3.10%
$340 $290
1047 117
4.53% 5.03%
55.03 60.22

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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