Suburb Profile Report for Dromana VIC (3936)

Dromana House: Median price $565,000, Annual capital growth 6.34%, Number of sales 171, Weekly median advertised rent $365

Dromana Unit: Median price $491,500, Annual capital growth 6.42%, Number of sales 37, Weekly median advertised rent $330

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 2335th in the list of Australian suburbs ordered by increase in median house value over the last year, Dromana, 3936 is in the BOTTOM 50% with a property value increase of 2.73% recorded in median house prices.

Dromana,3936 was ranked 2354 in Australia by increase in median property value over the quarter.

Property investors looking for a bargain in Dromana should be aiming for at least -5.01% off the asking price, which is the average vendor discount being achieved at the moment.

At number 1258 in a list of fastest selling suburbs, Dromana is in the TOP 40% of suburbs in Australia with an average of days on market 67.99 for properties listed there.

If you compare the increase in value of investment property in Dromana, 3936 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 31.07%.

Over the longer term, Dromana has seen property prices show investors a 8.02% return over the last 3 years. This is an improvement over the last 12 months

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Dromana, 3936. Typically our figures indicate that -7.26% is being offered, which puts this VIC suburb at 236th most discounted overall in Australia.

Dromana, 3936’s gross rental yield is 3.49%

HOUSE UNIT
$565,000 $491,500
0.22% 17.72%
2.73% 31.07%
6.34% 6.42%
$365 $330
171 37
3.36% 3.49%
67.99 76.9

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 5125
Median household income ($/weekly) 878
Median age of persons 49
Median housing loan repayment ($/monthly) 1500
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 514 10.0
    35-44 years 631 12.3
    45-54 years 661 12.9
    55-64 years 801 15.6
    65-74 years 755 14.7
    Others 1763 34.4
    Age Group
    Census Count Percent(%)
    Registered Married 1889 47.9
    Not Married 1636 41.5
    Defacto Relationship 415 10.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 3941 80.8
    Hong Kong 81 1.7
    Japan 84 1.7
    United Kingdom 334 6.8
    Other 122 2.5
    Others 316 6.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 65 1.4
    Christianity 3145 67.0
    Islam 25 0.5
    Other Religious Groups 24 0.5
    No Religion 1411 30.1
    Others 22 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 317 16.2
    $600-$799 241 12.3
    $800-$999 229 11.7
    $1,000-$1,249 194 9.9
    $1,500-$1,999 213 10.9
    Others 768 39.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1930 46.3
    Employed, worked full-time 1199 28.8
    Employed, worked part-time 774 18.6
    Employed, away from work 136 3.3
    Unemployed, looking for work 127 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 246 11.7
    Professionals 328 15.6
    Technicians & trades workers 407 19.3
    Clerical & administrative workers 269 12.8
    Sales 255 12.1
    Others 601 28.5
    Occupation
    Census Count Percent(%)
    Pre-school 72 8.5
    Infants/Primary 319 37.6
    Secondary 256 30.2
    Technical or Further Educational Institution 92 10.8
    University or other Tertiary Institutions 78 9.2
    Others 31 3.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4141 86.6
    Flat, unit or apartment 390 8.2
    Semi-detached, row or terrace house, townhouse 197 4.1
    Caravan, cabin, houseboat 48 1.0
    House or flat attached to a shop, office 7 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 932 44.1
    Rented 603 28.5
    Being purchased 566 26.8
    Other tenure type 14 0.7
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals