Suburb Profile Report for Pakenham VIC (3810)

Pakenham House: Median price $388,000, Annual capital growth 5.01%, Number of sales 1035, Weekly median advertised rent $340

Pakenham Unit: Median price $295,475, Annual capital growth 2.94%, Number of sales 115, Weekly median advertised rent $286

  • 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 8.38%

Pakenham,3810 has offered an average of 8.38% return per annum in house price rises to property investors over the last three years.

Pakenham, 3810 is offering VIC ‘s 557th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this VIC.

At number 823 in a list of fastest selling suburbs, Pakenham is in the TOP 30% of suburbs in Australia with an average of days on market 56.7 for properties listed there.

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

With a capital gain of 7.45% for the last 12 months, Pakenham, 3810 has performed for property investments than its average annual 2.94% property growth over the last 5 years.

Taking the average capital gain, or increase in median house value, Pakenham,3810 has racked up an average of 7.45% over the period. This ranks it number 984th in the whole country for real estate investors looking at median house price increases.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.22% offered to property buyers. Sellers in Pakenham itself are offering an average vendor discount of -2.18% to real estate investors.

Advertised rents are around the $286 mark per week – giving a return of 5.03% based on the median price in Suburb

HOUSE UNIT
$388,000 $295,475
2.11% 2.33%
8.38% 7.45%
5.01% 2.94%
$340 $286
1035 115
4.56% 5.03%
56.7 65.65

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Pakenham VIC
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
Chart Table
Recent sales & rentals