Suburb Profile Report for Mccrae VIC (3938)

Mccrae House: Median price $682,000, Annual capital growth 7.24%, Number of sales 89, Weekly median advertised rent $383

Mccrae Unit: Median price $563,620, Annual capital growth 1.05%, Number of sales 11, Weekly median advertised rent N/A

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Mccrae have tracked just higher than the VIC average of 8.27% over the last 12 months.

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

Vendor discounting in Mccrae is giving property investors an average Vendor Discount of around -5.78%. This puts suburb at number 280th in VIC when ranking the most discounted suburbs.

At number 1013 in a list of fastest selling suburbs, Mccrae is in the TOP 30% of suburbs in Australia with an average of days on market 61.65 for properties listed there.

A $382.5 per week rent on the median house gives suburb investors a gross yield of circa 2.92%, without taking into account capital value appreciation, which has been averaging out at 7.24%.

Investment property in Mccrae has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 15.02%

Metrics i HOUSE UNIT
$682,000 $563,620
3.49% N/A
11.35% 15.02%
7.24% 1.05%
$383 N/A
89 11
2.92% N/A
61.65 N/A

Source: CoreLogic

DSR Score for property investment : Balanced (U), Good (H)
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Demographics
Total population 2543
Median household income ($/weekly) 997
Median age of persons 52
Median housing loan repayment ($/monthly) 1625
Average household size 2.3
  • Census Count Percent(%)
    35-44 years 293 11.5
    45-54 years 366 14.4
    55-64 years 437 17.2
    65-74 years 420 16.5
    75-84 years 239 9.4
    Others 788 31.0
    Age Group
    Census Count Percent(%)
    Registered Married 1025 54.1
    Not Married 657 34.7
    Defacto Relationship 211 11.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 2029 86.7
    Japan 21 0.9
    Papua New Guinea 30 1.3
    United Kingdom 149 6.4
    Other 29 1.2
    Others 83 3.5
    Country of Birth
    Census Count Percent(%)
    Christianity 1450 65.3
    No Religion 745 33.5
    Buddhism 16 0.7
    Other Religious Groups 7 0.3
    Judaism 3 0.1
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 99 11.2
    $600-$799 108 12.2
    $800-$999 121 13.7
    $1,000-$1,249 90 10.2
    $1,500-$1,999 93 10.5
    Others 374 42.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 927 44.8
    Employed, worked full-time 598 28.9
    Employed, worked part-time 441 21.3
    Employed, away from work 72 3.5
    Unemployed, looking for work 32 1.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 130 11.8
    Professionals 223 20.2
    Technicians & trades workers 215 19.4
    Clerical & administrative workers 134 12.1
    Sales 135 12.2
    Others 269 24.3
    Occupation
    Census Count Percent(%)
    Pre-school 25 6.6
    Infants/Primary 143 37.6
    Secondary 108 28.4
    Technical or Further Educational Institution 51 13.4
    University or other Tertiary Institutions 36 9.5
    Others 17 4.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2145 95.9
    Semi-detached, row or terrace house, townhouse 67 3.0
    Flat, unit or apartment 25 1.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 482 49.5
    Being purchased 314 32.3
    Rented 170 17.5
    Other tenure type 7 0.7
    Tenure Type
Census 2011, ABS
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