Suburb Profile Report for Somerville VIC (3912)

Somerville House: Median price $460,000, Annual capital growth 5.25%, Number of sales 176, Weekly median advertised rent $378

Somerville Unit: Median price $325,250, Annual capital growth 4.77%, Number of sales 42, Weekly median advertised rent $310

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

Source: CoreLogic

  • House Report
  • Unit Report

Somerville, 3912 ranked 226th in VIC when comparing growth in median property values or capital gain over the last 12 months. Somerville is one of 2098 in our list for VIC

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Somerville has increased when compared to the 5 year average annual rate.

Our latest figures would indicate that property sellers in Somerville are currently offering property investors an average price cut of -3.74% below the asking price at the moment.

At number 79 in a list of fastest selling suburbs, Somerville is in the TOP 10% of suburbs in Australia with an average of days on market 34.06 for properties listed there.

With the median price for a house in Somerville being $460000 and the advertised rent reaching $377.5 the gross rental yield for property investors calculates out to be 4.27%

Property value increases in Somerville have tracked close to the VIC average of 3.19% over the last 12 months.

While Somerville,3912 ranked number 187th in VIC for increase in median house value (annualised) increase, it is ranked 216th over the last 5 years.

The most recent median price for Somerville is $325250, with sellers offering an average of -3.16% off the asking price.

On average over the past year, suburb has had 3.50 sales per month, which equates to 42 per year.

With the median price for a house in Somerville being $325250 and the advertised rent reaching $310 the gross rental yield for property investors calculates out to be 4.96%

HOUSE UNIT
$460,000 $325,250
2.22% 0.08%
10.84% 1.64%
5.25% 4.77%
$378 $310
176 42
4.27% 4.96%
34.06 35.03

Source: CoreLogic

DSR Score for property investment : Excellent (U), Excellent (H)
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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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Recent sales & rentals