Suburb Profile Report for Pakenham VIC (3810)

Pakenham House: Median price $396,000, Annual capital growth 4.96%, Number of sales 1084, Weekly median advertised rent $340

Pakenham Unit: Median price $305,000, Annual capital growth 3.39%, Number of sales 118, Weekly median advertised rent $290

  • 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 8.12% which means that Pakenham, 3810 has done well for property investors by showing a capital gain of 8.32% over the last year

Over the longer term, Pakenham has seen property prices show investors a 19.28% return over the last 3 years. This is worse than over the last 12 months

Pakenham3810 is located in VIC which offers an average discount of -6.00% to property investors. Pakenham itself is showing figures that indicate -3.10% is the average achievable by property buyers investing in the suburb.

Pakenham, 3810’s gross rental yield is 4.46%

Over the last year, property investments in Pakenham, 3810 have given investors a capital gain of 8.73%. This compares favourably with the 2.98% for VIC as a whole.

While Pakenham,3810 ranked number 129th in VIC for increase in median house value (annualised) increase, it is ranked 181th over the last 5 years.

Vendor discounting in Pakenham is giving property investors an average Vendor Discount of around -2.94%. This puts suburb at number 291th in VIC when ranking the most discounted suburbs.

On average over the past year, suburb has had 9.83 sales per month, which equates to 118 per year.

Using the current median advertised rental of $290 and the average annual increase in value of a median property of 3.39%, investors should hope to achieve an overall return of 4.94%

HOUSE UNIT
$396,000 $305,000
1.54% 1.67%
8.32% 8.73%
4.96% 3.39%
$340 $290
1084 118
4.46% 4.94%
51.2 59.59

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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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