Suburb Profile Report for Marong VIC (3515)

Marong House: Median price $386,000, Annual capital growth 4.28%, Number of sales 17, Weekly median advertised rent $370

  • 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.

  • House Report

Over the last year, property investments in Marong, 3515 have given investors a capital gain of 7.82%. This compares very favourably with the -1.69% for VIC as a whole.

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

At number 448th of VIC’s most discounted properties, Marong is in the TOP 30% of the state/territory when listing in order of most discounted to least.

At number 2303 in a list of fastest selling suburbs, Marong is in the bottom 40% of suburbs in Australia with an average of days on market 85 for properties listed there.

Using the current median advertised rental of $370 and the average annual increase in value of a median property of 4.28%, investors should hope to achieve an overall return of 4.98%

Metrics i HOUSE UNIT
$386,000 N/A
0.92% N/A
7.82% N/A
4.28% N/A
$370 N/A
17 N/A
4.98% N/A
85 N/A

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 : Above average (H), Above average (U)
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Demographics
Total population 901
Median household income ($/weekly) 1165
Median age of persons 40
Median housing loan repayment ($/monthly) 1497
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 117 13.0
    25-34 years 102 11.3
    35-44 years 125 13.9
    45-54 years 136 15.1
    55-64 years 137 15.2
    Others 283 31.4
    Age Group
    Census Count Percent(%)
    Registered Married 379 57.8
    Not Married 210 32.0
    Defacto Relationship 67 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 795 94.9
    Italy 6 0.7
    New Zealand 4 0.5
    Papua New Guinea 9 1.1
    United Kingdom 12 1.4
    Others 12 1.4
    Country of Birth
    Census Count Percent(%)
    Christianity 561 68.1
    No Religion 248 30.1
    Buddhism 12 1.5
    Other Religious Groups 3 0.4
    Hinduism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 30 10.5
    $1,000-$1,249 30 10.5
    $1,250-$1,499 43 15.0
    $1,500-$1,999 37 12.9
    $2,000-$2,499 32 11.2
    Others 114 39.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 273 40.3
    Not in the labour force 211 31.2
    Employed, worked part-time 145 21.4
    Employed, away from work 26 3.8
    Unemployed, looking for work 22 3.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 66 14.9
    Professionals 69 15.5
    Technicians & trades workers 75 16.9
    Clerical & administrative workers 57 12.8
    Labourers 50 11.3
    Others 127 28.6
    Occupation
    Census Count Percent(%)
    Pre-school 18 8.9
    Infants/Primary 73 36.0
    Secondary 69 34.0
    Technical or Further Educational Institution 24 11.8
    University or other Tertiary Institutions 16 7.9
    Others 3 1.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 811 96.0
    Caravan, cabin, houseboat 34 4.0
    Semi-detached, row or terrace house, townhouse 0 0.0
    Flat, unit or apartment 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 141 45.8
    Fully owned 118 38.3
    Rented 49 15.9
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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