Suburb Profile Report for Cranbourne West VIC (3977)

Cranbourne West House: Median price $435,000, Annual capital growth 7.00%, Number of sales 300, Weekly median advertised rent $350

Cranbourne West Unit: Median price $336,000, Annual capital growth 3.83%, Number of sales 14, Weekly median advertised rent $333

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

Source: CoreLogic

  • House Report
  • Unit Report

Cranbourne West is in the TOP 10% in VIC when comparing median price capital growth over the last year. Cranbourne West gave property investors a very good capital gain figure when compared to the rest of the state, with 20.50%.

A 37.77% growth in median value for property investors in Cranbourne West,3977 puts this suburb at number 95th in terms of best performing suburbs in VIC

Cranbourne West3977 is located in VIC which offers an average discount of -5.87% to property investors. Cranbourne West itself is showing figures that indicate -4.56% is the average achievable by property buyers investing in the suburb.

A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.18%, without taking into account capital value appreciation, which has been averaging out at 7.00%.

Investment property in Cranbourne West 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 15.96%

Using the current median advertised rental of $332.5 and the average annual increase in value of a median property of 3.83%, investors should hope to achieve an overall return of 5.15%

Metrics i HOUSE UNIT
$435,000 $336,000
5.58% -1.75%
20.50% 15.96%
7.00% 3.83%
$350 $333
300 14
4.18% 5.15%
44.89 N/A

Source: CoreLogic

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