Suburb Profile Report for Somerville VIC (3912)

Somerville House: Median price $472,250, Annual capital growth 5.60%, Number of sales 181, Weekly median advertised rent $383

Somerville Unit: Median price $330,000, Annual capital growth 4.52%, 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

If you compare the increase in value of investment property in Somerville, 3912 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 12.44%.

If we look at median property appreciation over just the last three months, Somerville has given property investors a paper return of 2.89%. This puts Suburb as 255 on a list of fastest fasting appreciating suburbs in VIC

Vendor discounting in Somerville is giving property investors an average Vendor Discount of around -3.34%. This puts suburb at number 557th in VIC when ranking the most discounted suburbs.

Advertised rents are around the $382.5 mark per week – giving a return of 4.21% based on the median price in Suburb

If you compare the increase in value of investment property in Somerville, 3912 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 1.15%.

A 8.72% growth in median value for property investors in Somerville,3912 puts this suburb at number 136th in terms of best performing suburbs in VIC

LACK OF BUYER INTEREST may well be the reason that Somerville is offering property investors an average of -5.08. This rate of discount on properties puts Suburb at number 249th in terms of most discounted suburbs in VIC

Often selling an investment property can take time, and in Somerville the average time real estate has been on the market is 36.51 days.

Metrics i HOUSE UNIT
$472,250 $330,000
2.89% 1.46%
12.44% 1.15%
5.60% 4.52%
$383 $313
181 45
4.21% 4.92%
33.52 36.51

Source: CoreLogic

DSR Score for property investment : Very good (U), Very good (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