Suburb Profile Report for Cranbourne VIC (3977)

Cranbourne House: Median price $398,412, Annual capital growth 6.14%, Number of sales 361, Weekly median advertised rent $330

Cranbourne Unit: Median price $283,000, Annual capital growth 5.11%, Number of sales 100, Weekly median advertised rent $290

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Cranbourne 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 13.84%

When looking at the potential capital gains offered to property investors over the last 3 years, Cranbourne comes in at number 298th in VIC.

Vendor discounting in Cranbourne is giving property investors an average Vendor Discount of around -3.96%. This puts suburb at number 504th in VIC when ranking the most discounted suburbs.

Cranbourne is 215th on a list of best yielding suburbs for rents in VIC with a 4.31% return

Over the last year, property investments in Cranbourne, 3977 have given investors a capital gain of 1.07%. This compares badly with the 3.19% for VIC as a whole.

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

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 Cranbourne, 3977. Typically our figures indicate that -6.01% is being offered, which puts this VIC suburb at 482th most discounted overall in Australia.

Situated 42.65km from the CBD, Cranbourne is one of Casey localities in the postcode 3977.

HOUSE UNIT
$398,412 $283,000
3.35% 1.07%
13.84% 1.07%
6.14% 5.11%
$330 $290
361 100
4.31% 5.33%
35.5 59.03

Source: CoreLogic

DSR Score for property investment : Very good (H), Very good (U)
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Demographics
Total population 18621
Median household income ($/weekly) 1070
Median age of persons 33
Median housing loan repayment ($/monthly) 1567
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 2527 13.6
    25-34 years 2881 15.5
    35-44 years 2721 14.6
    45-54 years 2473 13.3
    55-64 years 1972 10.6
    Others 6049 32.5
    Age Group
    Census Count Percent(%)
    Not Married 6214 45.8
    Registered Married 5996 44.2
    Defacto Relationship 1347 9.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 12584 71.5
    Indonesia 542 3.1
    Papua New Guinea 604 3.4
    United Kingdom 968 5.5
    Other 1143 6.5
    Others 1752 10.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 401 2.4
    Christianity 10586 63.6
    Hinduism 394 2.4
    Islam 514 3.1
    No Religion 4509 27.1
    Others 235 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 666 11.4
    $600-$799 621 10.6
    $800-$999 651 11.2
    $1,000-$1,249 676 11.6
    $1,500-$1,999 824 14.1
    Others 2394 41.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 5547 40.3
    Not in the labour force 4636 33.7
    Employed, worked part-time 2374 17.2
    Unemployed, looking for work 663 4.8
    Employed, away from work 554 4.0
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 1540 18.2
    Clerical & administrative workers 1298 15.3
    Sales 903 10.7
    Machinery operators & drivers 1143 13.5
    Labourers 1203 14.2
    Others 2388 28.2
    Occupation
    Census Count Percent(%)
    Pre-school 321 7.8
    Infants/Primary 1503 36.4
    Secondary 1255 30.4
    Technical or Further Educational Institution 526 12.8
    University or other Tertiary Institutions 330 8.0
    Others 189 4.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 15625 88.3
    Flat, unit or apartment 1511 8.5
    Semi-detached, row or terrace house, townhouse 548 3.1
    House or flat attached to a shop, office 15 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2988 47.0
    Rented 1797 28.3
    Fully owned 1535 24.1
    Other tenure type 38 0.6
    Tenure Type
Census 2011, ABS
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