Suburb Profile Report for Sorrento VIC (3943)

Sorrento House: Median price $980,000, Annual capital growth 6.36%, Number of sales 135, Weekly median advertised rent $450

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

Source: CoreLogic

  • House Report
  • Expert Report

Sorrento, 3943 ranked 135th in VIC when comparing growth in median property values or capital gain over the last 12 months. Sorrento is one of 2098 in our list for VIC

While Sorrento,3943 ranked number 155th in VIC for increase in median house value (annualised) increase, it is ranked 478th over the last 5 years.

At number 248th of VIC’s most discounted properties, Sorrento is in the middle of the state/territory when listing in order of most discounted to least.

With the median price for a house in Sorrento being $980000 and the advertised rent reaching $450 the gross rental yield for property investors calculates out to be 2.39%

Joshua Callaghan Information supplied by:

Joshua Callaghan
Joshua Callaghan

M 03 5984 2600
O 0418 595 719

W http://joshcallaghan.com.au/
E Joshua.callaghan@fletchers.net.au
Giving property investors a a poor capital gain of -13.41% for the last year, Sorrento, 3943 is the 3693th highest performer in Australia in this respect.

Taking the average capital gain, or increase in median house value, Sorrento,3943 has racked up an average of -13.41% over the period. This ranks it number 2798th in the whole country for real estate investors looking at median house price increases.

Sellers are offering property buyers an average discount of -12.40% to buyers in Sorrento at the moment, which is less than average for the rest of VIC. Full summary
Giving property investors a a poor capital gain of -13.41% for the last year, Sorrento, 3943 is the 3693th highest performer in Australia in this respect.
 
Taking the average capital gain, or increase in median house value, Sorrento,3943 has racked up an average of -13.41% over the period. This ranks it number 2798th in the whole country for real estate investors looking at median house price increases.
 
Sellers are offering property buyers an average discount of -12.40% to buyers in Sorrento at the moment, which is less than average for the rest of VIC. 
 
Selling points: 
Very popular historic seaside Village
Gorgeous bay beaches
Sorrento golf club
Sorrento sailing club
Popular surf beach and rock pool
National park with cliff top walking tracks abutting Bass Strait
Approx 1 hours drive from Melbourne CBD.
 
Most sought-after properties: 
Properties close to front beach and village
 
Most common properties:  
Older style holiday homes and high end coastal homes.
 
Top amenities: 
Sorrento golf club
Bay & ocean beaches
Sorrento sailing club
 
Local industry and business:
Tourism and hospitality are the main businesses
 
Best streets: 
Point Nepean Road
St Pauls Rd
Coppin Rd
Rose St
 
Public transport: 
Bus service connects from Portsea to Frankston
 
Close
HOUSE UNIT
$980,000 N/A
3.16% N/A
15.29% N/A
6.36% N/A
$450 N/A
135 N/A
2.39% N/A
96.25 N/A

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Sorrento VIC
Demographics
Total population 1447
Median household income ($/weekly) 892
Median age of persons 63
Median housing loan repayment ($/monthly) 1410
Average household size 2
  • Census Count Percent(%)
    35-44 years 115 7.9
    45-54 years 132 9.1
    55-64 years 302 20.9
    65-74 years 371 25.6
    75-84 years 200 13.8
    Others 328 22.7
    Age Group
    Census Count Percent(%)
    Registered Married 587 59.1
    Not Married 342 34.4
    Defacto Relationship 64 6.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 1156 85.1
    Japan 23 1.7
    New Zealand 8 0.6
    United Kingdom 95 7.0
    Other 23 1.7
    Others 54 4.0
    Country of Birth
    Census Count Percent(%)
    Christianity 932 70.8
    No Religion 365 27.7
    Buddhism 7 0.5
    Judaism 7 0.5
    Other Religious Groups 6 0.5
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 44 8.5
    $400-$599 85 16.5
    $600-$799 63 12.2
    $800-$999 65 12.6
    $1,500-$1,999 49 9.5
    Others 210 40.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 742 59.6
    Employed, worked full-time 227 18.2
    Employed, worked part-time 217 17.4
    Employed, away from work 47 3.8
    Unemployed, looking for work 12 1.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 100 20.5
    Professionals 113 23.2
    Technicians & trades workers 77 15.8
    Clerical & administrative workers 57 11.7
    Sales 50 10.2
    Others 91 18.6
    Occupation
    Census Count Percent(%)
    Pre-school 17 10.8
    Infants/Primary 54 34.2
    Secondary 35 22.2
    Technical or Further Educational Institution 18 11.4
    University or other Tertiary Institutions 28 17.7
    Others 6 3.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1047 92.5
    Semi-detached, row or terrace house, townhouse 61 5.4
    Flat, unit or apartment 24 2.1
    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 376 66.3
    Being purchased 97 17.1
    Rented 85 15.0
    Other tenure type 9 1.6
    Tenure Type
Census 2011, ABS
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