Suburb Profile Report for Dromana VIC (3936)

Dromana House: Median price $598,750, Annual capital growth 6.45%, Number of sales 192, Weekly median advertised rent $365

Dromana Unit: Median price $529,000, Annual capital growth 8.68%, Number of sales 34, Weekly median advertised rent $310

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 1380th in the list of Australian suburbs ordered by increase in median house value over the last year, Dromana, 3936 is in the top 40% with a property value increase of 8.47% recorded in median house prices.

The five-year average increase in median property values for Dromana,3936 has given property investors a potential capital gain of 30.16% across each of those five years.

LACK OF BUYER INTEREST may well be the reason that Dromana is offering property investors an average of -5.91. This rate of discount on properties puts Suburb at number 165th in terms of most discounted suburbs in VIC

In the last year 192 properties changed hands in Dromana, which puts it as the 121th most active market in VIC when comparing the number of sales per suburb.

Situated 58.34km from the CBD, Dromana is one of Mornington Peninsula localities in the postcode 3936.

With a capital gain of 32.25% for the last 12 months, Dromana, 3936 has performed for property investments than its average annual 8.68% property growth over the last 5 years.

While Dromana,3936 ranked number 131th in VIC for increase in median house value (annualised) increase, it is ranked 58th over the last 5 years.

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 -6.13% is being offered, which puts this VIC suburb at 475th most discounted overall in Australia.

A $310 per week rent on the median house gives suburb investors a gross yield of circa 3.05%, without taking into account capital value appreciation, which has been averaging out at 8.68%.

Metrics i HOUSE UNIT
$598,750 $529,000
1.91% 1.44%
8.47% 32.25%
6.45% 8.68%
$365 $310
192 34
3.17% 3.05%
64.2 70.36

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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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
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