Suburb Profile Report for Corinella VIC (3984)

Corinella House: Median price $335,000, Annual capital growth 5.40%, Number of sales 32, Weekly median advertised rent $280

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

Source: CoreLogic

  • House Report
  • Expert Report

Giving property investors a a solid capital gain of 12.61% for the last year, Corinella, 3984 is the 780th highest performer in Australia in this respect.

Across a shorter period, Corinella, 3984 has seen a median price increase of -11.84% over the last quarter.

Sellers are offering property buyers an average discount of -6.47% to buyers in Corinella at the moment, which is less than average for the rest of VIC.

YIP MAG Information supplied by:

YIP MAG
June 2016

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Around 110km southeast of Melbourne’s CBD, the waterside township of Corinella has made some big moves recently.Full summary Around 110km southeast of Melbourne’s CBD, the waterside township of Corinella has made some big moves recently.

While it still boasts a relatively affordable median house price of $380,000, the last year in particular has seen that improve significantly.

The latest CoreLogic RP Data figures show the median house price in Corinella has improved 28% over the past three years and 46% in the last 12 months alone.

It may be its distance from Melbourne, but buyers haven’t been racing to Corinella, with houses still spending an average of 92 days on the market.

Currently, houses in Corinella are providing rental returns of 4%, with Real Estate Investar putting its vacancy rate at 0.42%.

For those thinking of taking a look at Corinella, it’s around an hour and a half’s drive from Melbourne on the Bass Highway, or the French Island Ferry offers a more scenic mode of transport.Close
HOUSE UNIT
$335,000 N/A
-11.84% N/A
12.61% N/A
5.40% N/A
$280 N/A
32 N/A
4.35% N/A
120.3 N/A

Source: CoreLogic

DSR Score for property investment : Balanced (U), Balanced (H)
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Demographics
Total population 630
Median household income ($/weekly) 757
Median age of persons 47
Median housing loan repayment ($/monthly) 1452
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 79 12.5
    35-44 years 84 13.3
    45-54 years 77 12.2
    55-64 years 118 18.7
    65-74 years 89 14.1
    Others 183 29.0
    Age Group
    Census Count Percent(%)
    Registered Married 222 51.4
    Not Married 158 36.6
    Defacto Relationship 52 12.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 430 78.0
    New Zealand 10 1.8
    Papua New Guinea 11 2.0
    United Kingdom 55 10.0
    Other 10 1.8
    Others 35 6.4
    Country of Birth
    Census Count Percent(%)
    Christianity 338 62.8
    No Religion 193 35.9
    Other Religious Groups 4 0.7
    Islam 3 0.6
    Buddhism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 23 10.7
    $400-$599 42 19.5
    $600-$799 29 13.5
    $800-$999 32 14.9
    $1,000-$1,249 27 12.6
    Others 62 28.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 256 54.0
    Employed, worked full-time 127 26.8
    Employed, worked part-time 62 13.1
    Employed, away from work 21 4.4
    Unemployed, looking for work 8 1.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 25 12.1
    Technicians & trades workers 39 18.9
    Community & personal service workers 24 11.7
    Sales 25 12.1
    Labourers 31 15.0
    Others 62 30.1
    Occupation
    Census Count Percent(%)
    Pre-school 8 7.7
    Infants/Primary 35 33.7
    Secondary 42 40.4
    Technical or Further Educational Institution 9 8.7
    Other type of educational institution 7 6.7
    Others 3 2.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 521 98.3
    Semi-detached, row or terrace house, townhouse 6 1.1
    Caravan, cabin, houseboat 3 0.6
    Flat, unit or apartment 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 101 43.3
    Being purchased 81 34.8
    Rented 48 20.6
    Other tenure type 3 1.3
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals