Suburb Profile Report for Mckinnon VIC (3204)

Mckinnon House: Median price $1,564,500, Annual capital growth 6.20%, Number of sales 46, Weekly median advertised rent $680

Mckinnon Unit: Median price $762,100, Annual capital growth 3.35%, Number of sales 37, Weekly median advertised rent $550

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

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

VIC has seen average median house prices change by 4.41% which means that Mckinnon, 3204 has done well for property investors by showing a capital gain of 7.82% over the last year

While Mckinnon,3204 ranked number 266th in VIC for increase in median house value (annualised) increase, it is ranked 568th over the last 5 years.

Often selling an investment property can take time, and in Mckinnon the average time real estate has been on the market is 71.5833 days.

Using the current median advertised rental of $680 and the average annual increase in value of a median property of 6.20%, investors should hope to achieve an overall return of 2.26%

With a capital gain of 2.59% for the last 12 months, Mckinnon, 3204 has performed for property investments than its average annual 3.35% property growth over the last 5 years.

A 3.27% growth in median value for property investors in Mckinnon,3204 puts this suburb at number 178th in terms of best performing suburbs in VIC

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Mckinnon, 3204. Typically our figures indicate that -3.32% is being offered, which puts this VIC suburb at 949th most discounted overall in Australia.

With the median price for a house in Mckinnon being $762100 and the advertised rent reaching $550 the gross rental yield for property investors calculates out to be 3.75%

Metrics i HOUSE UNIT
$1,564,500 $762,100
2.42% 1.29%
7.82% 2.59%
6.20% 3.35%
$680 $550
46 37
2.26% 3.75%
71.5833333333333 71.4736842105263

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Above average (U)
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Demographics
Total population 5554
Median household income ($/weekly) 1787
Median age of persons 40
Median housing loan repayment ($/monthly) 2024
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 915 16.5
    25-34 years 452 8.1
    35-44 years 941 16.9
    45-54 years 917 16.5
    55-64 years 594 10.7
    Others 1734 31.2
    Age Group
    Census Count Percent(%)
    Registered Married 2111 53.6
    Not Married 1548 39.3
    Defacto Relationship 283 7.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3720 69.1
    Croatia 193 3.6
    South Africa 103 1.9
    United Kingdom 219 4.1
    Other 433 8.0
    Others 713 13.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 92 1.8
    Christianity 2739 52.9
    Hinduism 63 1.2
    Judaism 593 11.5
    No Religion 1633 31.5
    Others 57 1.1
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 185 11.1
    $2,000-$2,499 142 8.5
    $2,500-$2,999 255 15.3
    $3,000-$3,499 156 9.4
    $4,000 or more 123 7.4
    Others 806 48.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1650 39.6
    Not in the labour force 1315 31.6
    Employed, worked part-time 945 22.7
    Employed, away from work 141 3.4
    Unemployed, looking for work 115 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 449 16.4
    Professionals 929 34.0
    Technicians & trades workers 254 9.3
    Clerical & administrative workers 372 13.6
    Sales 284 10.4
    Others 448 16.4
    Occupation
    Census Count Percent(%)
    Pre-school 131 7.9
    Infants/Primary 602 36.4
    Secondary 489 29.6
    Technical or Further Educational Institution 96 5.8
    University or other Tertiary Institutions 303 18.3
    Others 33 2.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3850 74.0
    Semi-detached, row or terrace house, townhouse 914 17.6
    Flat, unit or apartment 377 7.2
    House or flat attached to a shop, office 60 1.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 709 38.9
    Fully owned 657 36.1
    Rented 446 24.5
    Other tenure type 10 0.5
    Tenure Type
Census 2011, ABS
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