Suburb Profile Report for Carrum VIC (3197)

Carrum House: Median price $827,500, Annual capital growth 6.41%, Number of sales 63, Weekly median advertised rent $410

Carrum Unit: Median price $647,500, Annual capital growth 6.01%, Number of sales 51, Weekly median advertised rent $420

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

At number 2037th in the list of Australian suburbs ordered by increase in median house value over the last year, Carrum, 3197 is in the top half with a property value increase of 3.37% recorded in median house prices.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Carrum has increased when compared to the 5 year average annual rate.

LACK OF BUYER INTEREST may well be the reason that Carrum is offering property investors an average of -5.39. This rate of discount on properties puts Suburb at number 210th in terms of most discounted suburbs in VIC

A $410 per week rent on the median house gives suburb investors a gross yield of circa 2.58%, without taking into account capital value appreciation, which has been averaging out at 6.41%.

Property value increases in Carrum have tracked just higher than the VIC average of 6.03% over the last 12 months.

While Carrum,3197 ranked number 212th in VIC for increase in median house value (annualised) increase, it is ranked 49th over the last 5 years.

Property buyers and investors in Carrum 3197 should be seeing an average reduction in asking price of around -3.67% . This means that Carrum is holding prices well when compared to other suburbs in VIC.

Metrics i HOUSE UNIT
$827,500 $647,500
0.00% -0.38%
3.37% 10.68%
6.41% 6.01%
$410 $420
63 51
2.58% 3.37%
44.28 48.1

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
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