Suburb Profile Report for Somerville VIC (3912)

Somerville House: Median price $450,000, Annual capital growth 5.14%, Number of sales 185, Weekly median advertised rent $380

Somerville Unit: Median price $325,000, Annual capital growth 4.57%, Number of sales 45, Weekly median advertised rent $313

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

Source: CoreLogic

  • House Report
  • Unit Report

Somerville is an average performer in VIC when comparing median price capital growth over the last year. Somerville gave property investors a good capital gain figure when compared to the rest of the state, with 10.29%.

A 18.42% growth in median value for property investors in Somerville,3912 puts this suburb at number 372th in terms of best performing suburbs in VIC

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Somerville itself are offering an average vendor discount of -3.62% to real estate investors.

Using the current median advertised rental of $380 and the average annual increase in value of a median property of 5.14%, investors should hope to achieve an overall return of 4.39%

At number 1204th in the list of Australian suburbs ordered by increase in median house value over the last year, Somerville, 3912 is in the BOTTOM 40% with a property value increase of -1.22% recorded in median house prices.

While Somerville,3912 ranked number 217th in VIC for increase in median house value (annualised) increase, it is ranked 235th over the last 5 years.

Somerville3912 is located in VIC which offers an average discount of -5.22% to property investors. Somerville itself is showing figures that indicate -3.03% is the average achievable by property buyers investing in the suburb.

Residents and property investors in Somerville have been waiting around 33.26 days to sell a property.

Somerville is 85th on a list of best yielding suburbs for rents in VIC with a 5.00% return

HOUSE UNIT
$450,000 $325,000
0.90% -0.15%
10.29% -1.22%
5.14% 4.57%
$380 $313
185 45
4.39% 5.00%
31.43 33.26

Source: CoreLogic

DSR Score for property investment : Very good (H), Very good (U)
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Demographics
Total population 10730
Median household income ($/weekly) 1287
Median age of persons 38
Median housing loan repayment ($/monthly) 1606
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 1533 14.3
    25-34 years 1191 11.1
    35-44 years 1446 13.5
    45-54 years 1689 15.7
    55-64 years 1280 11.9
    Others 3591 33.5
    Age Group
    Census Count Percent(%)
    Registered Married 4005 50.6
    Not Married 3092 39.1
    Defacto Relationship 813 10.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 8738 84.3
    New Zealand 70 0.7
    Papua New Guinea 126 1.2
    United Kingdom 1006 9.7
    Other 97 0.9
    Others 327 3.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 59 0.6
    Christianity 6374 65.2
    Judaism 12 0.1
    Other Religious Groups 40 0.4
    No Religion 3271 33.5
    Others 16 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 351 10.3
    $600-$799 311 9.2
    $1,250-$1,499 348 10.3
    $1,500-$1,999 506 14.9
    $2,000-$2,499 371 10.9
    Others 1505 44.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3271 39.8
    Not in the labour force 2474 30.1
    Employed, worked part-time 1835 22.3
    Employed, away from work 413 5.0
    Unemployed, looking for work 233 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 602 10.9
    Professionals 763 13.8
    Technicians & trades workers 1152 20.9
    Clerical & administrative workers 792 14.3
    Sales 626 11.3
    Others 1586 28.7
    Occupation
    Census Count Percent(%)
    Pre-school 186 7.0
    Infants/Primary 999 37.7
    Secondary 822 31.0
    Technical or Further Educational Institution 287 10.8
    University or other Tertiary Institutions 265 10.0
    Others 93 3.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 9260 90.4
    Semi-detached, row or terrace house, townhouse 573 5.6
    Flat, unit or apartment 349 3.4
    Caravan, cabin, houseboat 56 0.5
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1896 51.3
    Fully owned 1087 29.4
    Rented 635 17.2
    Other tenure type 79 2.1
    Tenure Type
Census 2011, ABS
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