Suburb Profile Report for Officer VIC (3809)

Officer House: Median price $513,750, Annual capital growth 6.33%, Number of sales 270, Weekly median advertised rent $390

Officer Unit: Median price $399,000, Annual capital growth 33.67%, Number of sales 15, Weekly median advertised rent N/A

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Officer has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 32.85%

While Officer,3809 ranked number 107th in VIC for increase in median house value (annualised) increase, it is ranked 527th over the last 5 years.

LACK OF BUYER INTEREST may well be the reason that Officer is offering property investors an average of -5.00. This rate of discount on properties puts Suburb at number 64th in terms of most discounted suburbs in VIC

Often selling an investment property can take time, and in Officer the average time real estate has been on the market is 40.89 days.

A $380 per week rent on the median house gives suburb investors a gross yield of circa 3.89%, without taking into account capital value appreciation, which has been averaging out at 6.25%.

Officer is an average performer in VIC when comparing median price capital growth over the last year. Officer gave property investors a average capital gain figure when compared to the rest of the state, with 8.13%.

Officer,3809 was ranked 838 in Australia by increase in median property value over the quarter.

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.58% offered to property buyers. Sellers in Officer itself are offering an average vendor discount of -5.60% to real estate investors.

Metrics i HOUSE UNIT
$513,750 $399,000
4.85% N/A
29.41% 7.99%
6.33% 33.67%
$390 N/A
270 15
3.95% N/A
37.01 N/A

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 1760
Median household income ($/weekly) 1752
Median age of persons 31
Median housing loan repayment ($/monthly) 2080
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 251 14.3
    25-34 years 314 17.8
    35-44 years 238 13.5
    45-54 years 237 13.5
    55-64 years 210 11.9
    Others 511 29.0
    Age Group
    Census Count Percent(%)
    Registered Married 645 49.8
    Not Married 461 35.6
    Defacto Relationship 190 14.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 1377 81.8
    Papua New Guinea 22 1.3
    Sri Lanka 18 1.1
    United Kingdom 104 6.2
    Other 36 2.1
    Others 126 7.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 19 1.2
    Christianity 1074 67.5
    Hinduism 10 0.6
    Islam 14 0.9
    No Religion 465 29.2
    Others 8 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 44 8.1
    $1,250-$1,499 50 9.2
    $1,500-$1,999 99 18.3
    $2,000-$2,499 101 18.7
    $2,500-$2,999 55 10.2
    Others 192 35.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 666 50.0
    Not in the labour force 303 22.8
    Employed, worked part-time 281 21.1
    Employed, away from work 51 3.8
    Unemployed, looking for work 30 2.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 140 14.1
    Professionals 169 17.0
    Technicians & trades workers 192 19.3
    Clerical & administrative workers 173 17.4
    Labourers 92 9.2
    Others 229 23.0
    Occupation
    Census Count Percent(%)
    Pre-school 37 8.2
    Infants/Primary 138 30.7
    Secondary 159 35.4
    Technical or Further Educational Institution 47 10.5
    University or other Tertiary Institutions 51 11.4
    Others 17 3.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1583 94.6
    Semi-detached, row or terrace house, townhouse 81 4.8
    Flat, unit or apartment 10 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(%)
    Being purchased 336 56.5
    Fully owned 148 24.9
    Rented 108 18.2
    Other tenure type 3 0.5
    Tenure Type
Census 2011, ABS
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