Suburb Profile Report for Carrum VIC (3197)

Carrum House: Median price $825,000, Annual capital growth 7.45%, Number of sales 55, Weekly median advertised rent $395

Carrum Unit: Median price $650,000, Annual capital growth 6.33%, Number of sales 66, Weekly median advertised rent $418

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

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Carrum, 3197 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 5.94%.

Over the longer term, Carrum has seen property prices show investors a 53.35% return over the last 3 years. This is worse than over the last 12 months

Carrum3197 is located in VIC which offers an average discount of -5.08% to property investors. Carrum itself is showing figures that indicate -6.91% is the average achievable by property buyers investing in the suburb.

VIC has seen average median house prices change by 8.22% which means that Carrum, 3197 has done well for property investors by showing a capital gain of 18.18% over the last year

If we look at median property appreciation over just the last three months, Carrum has given property investors a paper return of 4.84%. This puts Suburb as 74 on a list of fastest fasting appreciating suburbs in VIC

Sellers are offering property buyers an average discount of -5.29% to buyers in Carrum at the moment, which is less than average for the rest of VIC.

Using the current median advertised rental of $417.5 and the average annual increase in value of a median property of 6.33%, investors should hope to achieve an overall return of 3.34%

Metrics i HOUSE UNIT
$825,000 $650,000
-0.30% 4.84%
5.94% 18.18%
7.45% 6.33%
$395 $418
55 66
2.49% 3.34%
43.62 55.08

Source: CoreLogic

DSR Score for property investment : Good (H), Good (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
Chart Table
Recent sales & rentals