Suburb Profile Report for Carrum VIC (3197)

Carrum House: Median price $775,000, Annual capital growth 7.01%, Number of sales 55, Weekly median advertised rent $450

Carrum Unit: Median price $675,000, Annual capital growth 7.03%, Number of sales 27, Weekly median advertised rent $450

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Carrum, 3197 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -6.06%.

A 39.95% growth in median value for property investors in Carrum,3197 puts this suburb at number 107th in terms of best performing suburbs in VIC

LACK OF BUYER INTEREST may well be the reason that Carrum is offering property investors an average of -6.90. This rate of discount on properties puts Suburb at number 232th in terms of most discounted suburbs in VIC

On average over the past year, suburb has had 4.58 sales per month, which equates to 55 per year.

Carrum is 462th on a list of best yielding suburbs for rents in VIC with a 3.02% return

Carrum is an average performer in VIC when comparing median price capital growth over the last year. Carrum gave property investors a good capital gain figure when compared to the rest of the state, with 2.58%.

When looking at the potential capital gains offered to property investors over the last 3 years, Carrum comes in at number 36th in VIC.

Property investors looking for a bargain in Carrum should be aiming for at least -6.39% off the asking price, which is the average vendor discount being achieved at the moment.

At number 440 in a list of fastest selling suburbs, Carrum is in the TOP 40% of suburbs in Australia with an average of days on market 70.6 for properties listed there.

Using the current median advertised rental of $450 and the average annual increase in value of a median property of 7.03%, investors should hope to achieve an overall return of 3.47%

Metrics i HOUSE UNIT
$775,000 $675,000
2.62% 7.57%
-6.06% 2.58%
7.01% 7.03%
$450 $450
55 27
3.02% 3.47%
84.9375 70.6

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 3602
Median household income ($/weekly) 1140
Median age of persons 38
Median housing loan repayment ($/monthly) 1738
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 338 9.4
    25-34 years 579 16.1
    35-44 years 573 15.9
    45-54 years 501 13.9
    55-64 years 446 12.4
    Others 1165 32.3
    Age Group
    Census Count Percent(%)
    Not Married 1274 46.5
    Registered Married 1107 40.4
    Defacto Relationship 359 13.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 2619 77.7
    Japan 24 0.7
    Papua New Guinea 90 2.7
    United Kingdom 234 6.9
    Other 130 3.9
    Others 275 8.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 48 1.5
    Christianity 1992 62.6
    Islam 20 0.6
    Other Religious Groups 35 1.1
    No Religion 1069 33.6
    Others 17 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 140 10.2
    $600-$799 129 9.4
    $1,000-$1,249 125 9.1
    $1,500-$1,999 169 12.3
    $2,000-$2,499 147 10.7
    Others 663 48.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1183 42.1
    Not in the labour force 903 32.1
    Employed, worked part-time 514 18.3
    Employed, away from work 107 3.8
    Unemployed, looking for work 104 3.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 203 11.3
    Professionals 346 19.2
    Technicians & trades workers 323 17.9
    Community & personal service workers 178 9.9
    Clerical & administrative workers 288 16.0
    Others 465 25.8
    Occupation
    Census Count Percent(%)
    Pre-school 52 8.0
    Infants/Primary 208 31.9
    Secondary 177 27.1
    Technical or Further Educational Institution 71 10.9
    University or other Tertiary Institutions 108 16.5
    Others 37 5.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2195 65.4
    Semi-detached, row or terrace house, townhouse 714 21.3
    Flat, unit or apartment 432 12.9
    House or flat attached to a shop, office 12 0.4
    Improvised home, tent, sleepers out 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 525 35.4
    Rented 504 34.0
    Fully owned 445 30.0
    Other tenure type 9 0.6
    Tenure Type
Census 2011, ABS
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