Suburb Profile Report for Cranbourne West VIC (3977)

Cranbourne West House: Median price $450,000, Annual capital growth 7.44%, Number of sales 312, Weekly median advertised rent $350

Cranbourne West Unit: Median price $359,000, Annual capital growth 5.23%, Number of sales 13, Weekly median advertised rent $335

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

Source: CoreLogic

  • House Report
  • Unit Report

Property investors who have had real estate in Cranbourne West, 3977 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 18.42%

While Cranbourne West,3977 ranked number 189th in VIC for increase in median house value (annualised) increase, it is ranked 274th over the last 5 years.

Sellers are offering property buyers an average discount of -4.11% to buyers in Cranbourne West at the moment, which is less than average for the rest of VIC.

With the median price for a house in Cranbourne West being $450000 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 4.04%

If you compare the increase in value of investment property in Cranbourne West, 3977 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 21.69%.

Using the current median advertised rental of $335 and the average annual increase in value of a median property of 5.23%, investors should hope to achieve an overall return of 4.85%

Metrics i HOUSE UNIT
$450,000 $359,000
4.65% N/A
18.42% 21.69%
7.44% 5.23%
$350 $335
312 13
4.04% 4.85%
37.71 N/A

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
Find a mortgage broker in Cranbourne West VIC
Demographics
Total population 8743
Median household income ($/weekly) 1204
Median age of persons 29
Median housing loan repayment ($/monthly) 1646
Average household size 3
  • Census Count Percent(%)
    0-4 years 956 10.9
    5-14 years 1424 16.3
    25-34 years 1691 19.3
    35-44 years 1419 16.2
    45-54 years 990 11.3
    Others 2263 25.9
    Age Group
    Census Count Percent(%)
    Registered Married 2753 46.1
    Not Married 2532 42.4
    Defacto Relationship 691 11.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 5656 67.6
    Indonesia 434 5.2
    Papua New Guinea 433 5.2
    United Kingdom 296 3.5
    Other 685 8.2
    Others 858 10.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 294 3.7
    Christianity 4833 61.0
    Hinduism 343 4.3
    Islam 307 3.9
    No Religion 1991 25.1
    Others 155 2.0
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 260 10.5
    $800-$999 291 11.7
    $1,000-$1,249 363 14.6
    $1,250-$1,499 315 12.7
    $1,500-$1,999 433 17.4
    Others 821 33.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2649 43.6
    Not in the labour force 1783 29.3
    Employed, worked part-time 1077 17.7
    Unemployed, looking for work 321 5.3
    Employed, away from work 250 4.1
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 696 17.5
    Community & personal service workers 394 9.9
    Clerical & administrative workers 574 14.4
    Machinery operators & drivers 631 15.9
    Labourers 637 16.0
    Others 1045 26.3
    Occupation
    Census Count Percent(%)
    Pre-school 193 8.8
    Infants/Primary 909 41.3
    Secondary 626 28.4
    Technical or Further Educational Institution 223 10.1
    University or other Tertiary Institutions 154 7.0
    Others 97 4.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 8299 98.5
    Flat, unit or apartment 109 1.3
    Semi-detached, row or terrace house, townhouse 19 0.2
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1696 62.5
    Rented 698 25.7
    Fully owned 310 11.4
    Other tenure type 9 0.3
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals