Suburb Profile Report for Mernda VIC (3754)

Mernda House: Median price $550,000, Annual capital growth 4.88%, Number of sales 331, Weekly median advertised rent $400

Mernda Unit: Median price $385,000, Annual capital growth 6.92%, Number of sales 21, Weekly median advertised rent $350

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

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

  • House Report
  • Unit Report

With a capital gain of -3.51% for the last 12 months, Mernda, 3754 has performed for property investments than its average annual 4.88% property growth over the last 5 years.

A 45.70% growth in median value for property investors in Mernda,3754 puts this suburb at number 420th in terms of best performing suburbs in VIC

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.51% offered to property buyers. Sellers in Mernda itself are offering an average vendor discount of -5.93% to real estate investors.

In the last year 331 properties changed hands in Mernda, which puts it as the 29th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Mernda being $550000 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 3.78%

Property investors who have had real estate in Mernda, 3754 should be ok 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 2.26%

The five-year average increase in median property values for Mernda,3754 has given property investors a potential capital gain of 12.24% across each of those five years.

At number 517 in a list of fastest selling suburbs, Mernda is in the TOP 40% of suburbs in Australia with an average of days on market 70.9412 for properties listed there.

With the median price for a house in Mernda being $385000 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 4.73%

Metrics i HOUSE UNIT
$550,000 $385,000
0.92% -0.13%
-3.51% 2.26%
4.88% 6.92%
$400 $350
331 21
3.78% 4.73%
54.6284584980237 70.9411764705882

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

DSR Score for property investment : Above average (H), Good (U)
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Demographics
Total population 6507
Median household income ($/weekly) 1597
Median age of persons 29
Median housing loan repayment ($/monthly) 2167
Average household size 2.8
  • Census Count Percent(%)
    0-4 years 741 11.4
    5-14 years 896 13.8
    25-34 years 1603 24.6
    35-44 years 1177 18.1
    45-54 years 665 10.2
    Others 1426 21.9
    Age Group
    Census Count Percent(%)
    Registered Married 2437 52.6
    Not Married 1478 31.9
    Defacto Relationship 714 15.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 4948 78.7
    Indonesia 119 1.9
    Japan 87 1.4
    United Kingdom 220 3.5
    Other 199 3.2
    Others 718 11.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 113 1.9
    Christianity 4262 70.1
    Hinduism 115 1.9
    Islam 160 2.6
    No Religion 1385 22.8
    Others 45 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 226 11.1
    $1,250-$1,499 216 10.6
    $1,500-$1,999 387 19.0
    $2,000-$2,499 353 17.3
    $2,500-$2,999 182 8.9
    Others 677 33.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2536 53.7
    Not in the labour force 945 20.0
    Employed, worked part-time 868 18.4
    Employed, away from work 218 4.6
    Unemployed, looking for work 154 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 426 11.8
    Professionals 646 17.8
    Technicians & trades workers 633 17.5
    Clerical & administrative workers 591 16.3
    Sales 370 10.2
    Others 954 26.4
    Occupation
    Census Count Percent(%)
    Pre-school 186 11.9
    Infants/Primary 621 39.9
    Secondary 348 22.4
    Technical or Further Educational Institution 157 10.1
    University or other Tertiary Institutions 195 12.5
    Others 50 3.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6046 95.6
    Semi-detached, row or terrace house, townhouse 250 4.0
    Flat, unit or apartment 22 0.3
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1503 68.6
    Rented 407 18.6
    Fully owned 271 12.4
    Other tenure type 11 0.5
    Tenure Type
Census 2011, ABS
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