Suburb Profile Report for Dandenong VIC (3175)

Dandenong House: Median price $630,000, Annual capital growth 6.98%, Number of sales 205, Weekly median advertised rent $350

Dandenong Unit: Median price $360,000, Annual capital growth 4.79%, Number of sales 324, Weekly median advertised rent $305

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

VIC has seen average median house prices change by 8.62% which means that Dandenong, 3175 has done well for property investors by showing a capital gain of 8.62% over the last year

When looking at the potential capital gains offered to property investors over the last 3 years, Dandenong comes in at number 243th in VIC.

Our latest figures would indicate that property sellers in Dandenong are currently offering property investors an average price cut of -5.37% below the asking price at the moment.

Using the current median advertised rental of $350 and the average annual increase in value of a median property of 6.98%, investors should hope to achieve an overall return of 2.89%

At number 482th in the list of Australian suburbs ordered by increase in median house value over the last year, Dandenong, 3175 is in the top 30% with a property value increase of 8.43% recorded in median house prices.

A 23.92% growth in median value for property investors in Dandenong,3175 puts this suburb at number 106th in terms of best performing suburbs in VIC

At number 149th of VIC’s most discounted properties, Dandenong is in the middle of the state/territory when listing in order of most discounted to least.

Dandenong is 112th on a list of best yielding suburbs for rents in VIC with a 4.41% return

YIP MAG Information supplied by:

YIP MAG
July 2015

M
O

W
E
Big things are happening in Dandenong and investors could be among the beneficiaries.Full summary Big things are happening in Dandenong and investors could be among the beneficiaries.

Located 30km southeast of Melbourne, this suburb is currently undergoing a program called Revitalising Central Dandenong, where more than $360m has been spent so far on infrastructure upgrades and other additions and improvements around the Dandenong CBD.

The area already boasts a healthy array of shops, education options and medical facilities.

With a median house price that’s still a lot cheaper than suburbs closer to Melbourne, Dandenong is definitely one to watch for investors who are not looking to spend a huge amount of money.

Since there hasn’t been a huge amount of capital growth in recent years, the near future could be Dandenong’s time to shine.

Houses on Birdwood Ave and Hemmings St are close to shops, schools, the Eastlink and the train station.

Two and three-bedroom houses can be bought in these streets for less than $420,000.
 Close
Metrics i HOUSE UNIT
$630,000 $360,000
1.61% 2.86%
8.62% 8.43%
6.98% 4.79%
$350 $305
205 324
2.89% 4.41%
83.51 64.73

Source: CoreLogic

DSR Score for property investment : Above average (H), Good (U)
Find a mortgage broker in Dandenong VIC
Demographics
Total population 24919
Median household income ($/weekly) 832
Median age of persons 32
Median housing loan repayment ($/monthly) 1500
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 2735 11.0
    25-34 years 5118 20.5
    35-44 years 3456 13.9
    45-54 years 2654 10.7
    55-64 years 2151 8.6
    Others 8806 35.3
    Age Group
    Census Count Percent(%)
    Registered Married 8861 48.9
    Not Married 8545 47.1
    Defacto Relationship 722 4.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 7584 33.0
    Croatia 809 3.5
    Indonesia 2793 12.1
    Sri Lanka 1550 6.7
    Other 4902 21.3
    Others 5355 23.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 1401 6.2
    Christianity 10010 44.3
    Hinduism 1934 8.6
    Islam 6015 26.6
    No Religion 2350 10.4
    Others 898 4.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 1057 14.3
    $600-$799 989 13.4
    $800-$999 856 11.6
    $1,000-$1,249 780 10.6
    $1,500-$1,999 755 10.2
    Others 2935 39.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 8621 46.7
    Employed, worked full-time 5451 29.5
    Employed, worked part-time 2610 14.1
    Unemployed, looking for work 1098 5.9
    Employed, away from work 676 3.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 931 10.7
    Technicians & trades workers 1565 17.9
    Clerical & administrative workers 959 11.0
    Machinery operators & drivers 1241 14.2
    Labourers 1649 18.9
    Others 2391 27.4
    Occupation
    Census Count Percent(%)
    Infants/Primary 1417 25.8
    Secondary 1387 25.3
    Technical or Further Educational Institution 938 17.1
    University or other Tertiary Institutions 792 14.4
    Other type of educational institution 636 11.6
    Others 323 5.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 11962 52.0
    Flat, unit or apartment 9431 41.0
    Semi-detached, row or terrace house, townhouse 1599 6.9
    House or flat attached to a shop, office 29 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 4296 54.0
    Fully owned 1940 24.4
    Being purchased 1657 20.8
    Other tenure type 57 0.7
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals