Suburb Profile Report for Herne Hill VIC (3218)

Herne Hill House: Median price $500,500, Annual capital growth 7.21%, Number of sales 83, Weekly median advertised rent $350

Herne Hill Unit: Median price $262,500, Annual capital growth 6.17%, Number of sales 34, Weekly median advertised rent $230

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

Source: CoreLogic

  • House Report
  • Unit Report

Property investors who have had real estate in Herne Hill, 3218 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 20.60%

Across a shorter period, Herne Hill, 3218 has seen a median price increase of 3.20% over the last quarter.

Property investors looking for a bargain in Herne Hill should be aiming for at least -5.45% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 83 properties changed hands in Herne Hill, which puts it as the 321th most active market in VIC when comparing the number of sales per suburb.

Property value increases in Herne Hill have tracked just higher than the VIC average of 8.36% over the last 12 months.

When looking at the potential capital gains offered to property investors over the last 3 years, Herne Hill comes in at number 188th in VIC.

Our latest figures would indicate that property sellers in Herne Hill are currently offering property investors an average price cut of -5.28% below the asking price at the moment.

Renters in Suburb are facing rents around $2760 per annum or $230 every week.

Metrics i HOUSE UNIT
$500,500 $262,500
3.20% 2.94%
20.60% 16.15%
7.21% 6.17%
$350 $230
83 34
3.64% 4.56%
66.43 47.63

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 3322
Median household income ($/weekly) 917
Median age of persons 39
Median housing loan repayment ($/monthly) 1300
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 315 9.5
    25-34 years 519 15.6
    35-44 years 451 13.6
    45-54 years 463 13.9
    55-64 years 355 10.7
    Others 1220 36.7
    Age Group
    Census Count Percent(%)
    Not Married 1268 49.3
    Registered Married 1032 40.1
    Defacto Relationship 272 10.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 2730 88.1
    New Zealand 19 0.6
    Papua New Guinea 40 1.3
    United Kingdom 105 3.4
    Other 66 2.1
    Others 137 4.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 27 0.9
    Christianity 2072 70.2
    Islam 25 0.8
    Other Religious Groups 18 0.6
    No Religion 794 26.9
    Others 14 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 141 10.4
    $400-$599 201 14.8
    $600-$799 166 12.2
    $1,000-$1,249 136 10.0
    $1,500-$1,999 175 12.9
    Others 537 39.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 984 37.2
    Not in the labour force 940 35.6
    Employed, worked part-time 516 19.5
    Employed, away from work 117 4.4
    Unemployed, looking for work 86 3.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 275 17.0
    Technicians & trades workers 275 17.0
    Community & personal service workers 212 13.1
    Clerical & administrative workers 202 12.5
    Labourers 196 12.1
    Others 457 28.3
    Occupation
    Census Count Percent(%)
    Infants/Primary 186 29.7
    Secondary 167 26.7
    Technical or Further Educational Institution 89 14.2
    University or other Tertiary Institutions 116 18.5
    Other type of educational institution 35 5.6
    Others 33 5.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2582 83.4
    Flat, unit or apartment 495 16.0
    Semi-detached, row or terrace house, townhouse 19 0.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 498 34.5
    Rented 488 33.8
    Being purchased 455 31.5
    Other tenure type 3 0.2
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals