Suburb Profile Report for Kurunjang VIC (3337)

Kurunjang House: Median price $415,000, Annual capital growth 6.65%, Number of sales 210, Weekly median advertised rent $320

Kurunjang Unit: Median price $315,000, Annual capital growth 6.63%, Number of sales 15, Weekly median advertised rent $290

  • 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 Kurunjang, 3337 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 23.88%.

The five-year average increase in median property values for Kurunjang,3337 has given property investors a potential capital gain of 50.36% across each of those five years.

Sellers are offering property buyers an average discount of -4.06% to buyers in Kurunjang at the moment, which is less than average for the rest of VIC.

Often selling an investment property can take time, and in Kurunjang the average time real estate has been on the market is 32.96 days.

With the median price for a house in Kurunjang being $415000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.01%

VIC has seen average median house prices change by 7.73% which means that Kurunjang, 3337 has done well for property investors by showing a capital gain of 10.53% over the last year

Across a shorter period, Kurunjang, 3337 has seen a median price increase of 1.94% over the last quarter.

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 Kurunjang, 3337. Typically our figures indicate that -2.65% is being offered, which puts this VIC suburb at 1365th most discounted overall in Australia.

Using the current median advertised rental of $290 and the average annual increase in value of a median property of 6.63%, investors should hope to achieve an overall return of 4.79%

Metrics i HOUSE UNIT
$415,000 $315,000
6.68% 1.94%
23.88% 10.53%
6.65% 6.63%
$320 $290
210 15
4.01% 4.79%
32.96 57.6

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 9227
Median household income ($/weekly) 1290
Median age of persons 31
Median housing loan repayment ($/monthly) 1593
Average household size 2.9
  • Census Count Percent(%)
    0-4 years 862 9.3
    5-14 years 1425 15.4
    25-34 years 1514 16.4
    35-44 years 1385 15.0
    45-54 years 1220 13.2
    Others 2822 30.6
    Age Group
    Census Count Percent(%)
    Registered Married 3081 48.3
    Not Married 2528 39.6
    Defacto Relationship 773 12.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 6771 78.1
    Netherlands 147 1.7
    Papua New Guinea 228 2.6
    United Kingdom 367 4.2
    Other 504 5.8
    Others 655 7.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 93 1.1
    Christianity 5802 70.4
    Islam 120 1.5
    Other Religious Groups 44 0.5
    No Religion 2144 26.0
    Others 44 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 262 9.8
    $1,000-$1,249 333 12.5
    $1,250-$1,499 278 10.4
    $1,500-$1,999 441 16.5
    $2,000-$2,499 314 11.8
    Others 1044 39.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2859 43.8
    Not in the labour force 1915 29.3
    Employed, worked part-time 1144 17.5
    Unemployed, looking for work 311 4.8
    Employed, away from work 297 4.6
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 749 17.4
    Community & personal service workers 473 11.0
    Clerical & administrative workers 679 15.8
    Machinery operators & drivers 547 12.7
    Labourers 493 11.5
    Others 1357 31.6
    Occupation
    Census Count Percent(%)
    Pre-school 171 7.7
    Infants/Primary 911 41.1
    Secondary 635 28.6
    Technical or Further Educational Institution 187 8.4
    University or other Tertiary Institutions 216 9.7
    Others 99 4.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 8353 95.7
    Semi-detached, row or terrace house, townhouse 222 2.5
    Flat, unit or apartment 153 1.8
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1614 55.8
    Rented 664 23.0
    Fully owned 601 20.8
    Other tenure type 14 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals