Suburb Profile Report for Canadian VIC (3350)

Canadian House: Median price $370,000, Annual capital growth 4.43%, Number of sales 90, Weekly median advertised rent $335

Canadian Unit: Median price $300,000, Annual capital growth 4.36%, Number of sales 19, Weekly median advertised rent $288

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

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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At number 561th in the list of Australian suburbs ordered by increase in median house value over the last year, Canadian, 3350 is in the top 20% with a property value increase of 9.14% recorded in median house prices.

Comparing Canadian,3350 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Vendor discounting in Canadian is giving property investors an average Vendor Discount of around -4.27%. This puts suburb at number 558th in VIC when ranking the most discounted suburbs.

On average over the past year, suburb has had 7.50 sales per month, which equates to 90 per year.

The VIC suburb of Canadian, 3350 is in the Ballarat (C) local government area.

At number 98th in the list of Australian suburbs ordered by increase in median house value over the last year, Canadian, 3350 is in the top 10% with a property value increase of 15.38% recorded in median house prices.

Taking the average capital gain, or increase in median house value, Canadian,3350 has racked up an average of 15.38% over the period. This ranks it number 421th in the whole country for real estate investors looking at median house price increases.

Vendor discounting in Canadian is giving property investors an average Vendor Discount of around -2.66%. This puts suburb at number 245th in VIC when ranking the most discounted suburbs.

On average over the past year, suburb has had 1.58 sales per month, which equates to 19 per year.

Information supplied by:


November 2018

M
O

W
E

Affordability with growth potential

Postcode: 3350

Median house price: $346,500

Three-year growth: 6.6%

Rental yield: 4.5%

A hop and a skip from the Ballarat CBD, the suburb of Canadian is right on the rural-urban fringe. It was named for Canadian gold digger Henry Ross, who was a prominent figure in 1854’s Eureka Rebellion in Ballarat.

Canadian is home to parks and reserves like Sparrow Ground. It houses Lake Esmond, which was converted from a quarry and now serves as a recreational spot for rotary clubs and residents alike.

The suburb is very affordable, with houses selling at a median value of under $350,000. Price growth has been steady for five years – most recently, Canadian reported an increase of 5.5% in the year to August 2018. Rentals have gone very well as well in this period – rental vacancy rates fell from an average of 6.4% to just 5% on a weekly average rent rate of $300.

Metrics i HOUSE UNIT
$370,000 $300,000
5.71% 5.26%
9.14% 15.38%
4.43% 4.36%
$335 $288
90 19
4.71% 4.98%
50.5774647887324 52.4

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Very good (U)
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Demographics
Total population 3202
Median household income ($/weekly) 1119
Median age of persons 31
Median housing loan repayment ($/monthly) 1500
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 396 12.4
    20-24 years 327 10.2
    25-34 years 574 17.9
    35-44 years 448 14.0
    45-54 years 332 10.4
    Others 1125 35.1
    Age Group
    Census Count Percent(%)
    Registered Married 1074 46.1
    Not Married 971 41.7
    Defacto Relationship 286 12.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 2769 89.1
    Croatia 38 1.2
    Papua New Guinea 32 1.0
    United Kingdom 71 2.3
    Other 66 2.1
    Others 131 4.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 31 1.1
    Christianity 1919 65.5
    Hinduism 33 1.1
    Islam 15 0.5
    No Religion 916 31.3
    Others 15 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 122 11.2
    $600-$799 108 9.9
    $800-$999 114 10.5
    $1,000-$1,249 136 12.5
    $1,500-$1,999 160 14.7
    Others 446 41.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 967 39.0
    Not in the labour force 781 31.5
    Employed, worked part-time 514 20.7
    Unemployed, looking for work 117 4.7
    Employed, away from work 103 4.1
    Person Characteristics
  • Census Count Percent(%)
    Professionals 373 23.5
    Technicians & trades workers 264 16.6
    Community & personal service workers 184 11.6
    Clerical & administrative workers 215 13.6
    Sales 155 9.8
    Others 395 24.9
    Occupation
    Census Count Percent(%)
    Pre-school 68 8.1
    Infants/Primary 255 30.5
    Secondary 199 23.8
    Technical or Further Educational Institution 55 6.6
    University or other Tertiary Institutions 243 29.0
    Others 17 2.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2661 87.9
    Flat, unit or apartment 206 6.8
    Semi-detached, row or terrace house, townhouse 158 5.2
    House or flat attached to a shop, office 3 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 505 43.2
    Rented 373 31.9
    Fully owned 288 24.6
    Other tenure type 4 0.3
    Tenure Type
Census 2011, ABS
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