Suburb Profile Report for Merrimac QLD (4226)

Merrimac House: Median price $632,000, Annual capital growth 4.75%, Number of sales 90, Weekly median advertised rent $550

Merrimac Unit: Median price $420,000, Annual capital growth 0.99%, Number of sales 125, Weekly median advertised rent $450

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

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

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QLD has seen average median house prices change by 12.16% which means that Merrimac, 4226 has done well for property investors by showing a capital gain of 19.92% over the last year

Over the longer term, Merrimac has seen property prices show investors a 20.38% return over the last 3 years. This is worse than over the last 12 months

State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.90% offered to property buyers. Sellers in Merrimac itself are offering an average vendor discount of -2.44% to real estate investors.

Renters in Suburb are facing rents around $28600 per annum or $550 every week.

Over the last year, property investments in Merrimac, 4226 have given investors a capital gain of 11.41%. This compares favourably with the 8.71% for QLD as a whole.

Merrimac,4226 was ranked 663 in Australia by increase in median property value over the quarter.

Merrimac, 4226 is offering QLD ‘s 56th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this QLD.

Situated 72.74km from the CBD, Merrimac is one of Gold Coast (C) localities in the postcode 4226.

YIP MAG Information supplied by:

YIP MAG
May 2016

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On the western fringe of the Gold Coast, Merrimac’s properties for sale have been harder to come by over the past 12 months.

Real Estate Investar’s figures show that since the corresponding period last year, the number of properties on the market in Merrimac has dipped by nearly a quarter.

This fall in stock could come down to two things: either buyers have taken notice of market movements and have looked to swoop in, or vendors have become content to sit and reap capital growth.

The median house price in Merrimac currently sits at a relatively affordable $470,000 and has shown good signs of growth in recent times, increasing by 24% in the past three years.

Units in the suburb haven’t been performing as well, though: their median price has gone backwards by 16% in the past five years.

The differing performance of houses and units can also be seen in their time on market, with houses taking 45 days to sell, and units 90.
Metrics i HOUSE UNIT
$632,000 $420,000
4.38% 3.45%
19.92% 11.41%
4.75% 0.99%
$550 $450
90 125
4.53% 5.57%
31.578125 43.1230769230769

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Very good (U)
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Demographics
Total population 6320
Median household income ($/weekly) 1229
Median age of persons 34
Median housing loan repayment ($/monthly) 1842
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 868 13.7
    25-34 years 965 15.3
    35-44 years 955 15.1
    45-54 years 781 12.4
    55-64 years 591 9.3
    Others 2161 34.2
    Age Group
    Census Count Percent(%)
    Registered Married 1902 45.1
    Not Married 1782 42.2
    Defacto Relationship 534 12.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 3794 66.1
    South Korea 90 1.6
    Papua New Guinea 622 10.8
    United Kingdom 323 5.6
    Other 285 5.0
    Others 629 11.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 141 2.6
    Christianity 3809 70.1
    Islam 25 0.5
    Other Religious Groups 26 0.5
    No Religion 1414 26.0
    Others 17 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 205 11.1
    $1,000-$1,249 211 11.4
    $1,250-$1,499 202 10.9
    $1,500-$1,999 316 17.0
    $2,000-$2,499 196 10.6
    Others 724 39.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1791 40.8
    Not in the labour force 1212 27.6
    Employed, worked part-time 982 22.4
    Unemployed, looking for work 212 4.8
    Employed, away from work 193 4.4
    Person Characteristics
  • Census Count Percent(%)
    Professionals 460 15.5
    Technicians & trades workers 489 16.5
    Community & personal service workers 376 12.7
    Clerical & administrative workers 437 14.7
    Sales 413 13.9
    Others 794 26.7
    Occupation
    Census Count Percent(%)
    Pre-school 89 6.1
    Infants/Primary 533 36.6
    Secondary 447 30.7
    Technical or Further Educational Institution 126 8.6
    University or other Tertiary Institutions 211 14.5
    Others 52 3.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3674 65.7
    Semi-detached, row or terrace house, townhouse 1872 33.5
    Flat, unit or apartment 43 0.8
    House or flat attached to a shop, office 7 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 836 41.6
    Being purchased 834 41.5
    Fully owned 334 16.6
    Other tenure type 4 0.2
    Tenure Type
Census 2011, ABS
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