Suburb Profile Report for Somerville VIC (3912)

Somerville House: Median price $610,000, Annual capital growth 6.41%, Number of sales 142, Weekly median advertised rent $440

Somerville Unit: Median price $450,000, Annual capital growth 5.19%, Number of sales 29, Weekly median advertised rent $375

  • 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.

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  • House Report
  • Unit Report

Property investors who have had real estate in Somerville, 3912 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 1.67%

Across a shorter period, Somerville, 3912 has seen a median price increase of 1.67% over the last quarter.

The most recent median price for Somerville is $610000, with sellers offering an average of -8.67% off the asking price.

At number 859 in a list of fastest selling suburbs, Somerville is in the TOP 30% of suburbs in Australia with an average of days on market 60.1881 for properties listed there.

Somerville is 238th on a list of best yielding suburbs for rents in VIC with a 3.75% return

At number 609th in the list of Australian suburbs ordered by increase in median house value over the last year, Somerville, 3912 is in the top 40% with a property value increase of 2.27% recorded in median house prices.

Taking the average capital gain, or increase in median house value, Somerville,3912 has racked up an average of 2.27% over the period. This ranks it number 113th in the whole country for real estate investors looking at median house price increases.

On average over the past year, suburb has had 2.42 sales per month, which equates to 29 per year.

With the median price for a house in Somerville being $450000 and the advertised rent reaching $375 the gross rental yield for property investors calculates out to be 4.33%

Information supplied by:




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Western Port suburb clings to upward trend

Postcode: 3912

Median unit price: $442,500

Three-year growth: 39.4%

Rental yield: 4.1%

The suburb of Somerville is part of the urban enclave on Victoria’s Western Port, which also includes suburbs like Hastings, Bittern and Crib Point. While it originally began as an orchard town, Somerville has since undergone significant development as its population swelled.

Residents are served by a local railway station that is a stop on Stony Point Line, as well as a bus service to Frankston. There are many parks and playgrounds for families with children, and coffee lovers will enjoy the award-winning cafes in the area. The Mechanics’ Hall is known for hosting local gigs.

The suburb is holding on to positive growth thus far, although price increases slowed to 1.1% in the 12 months to February 2019.

Metrics i HOUSE UNIT
$610,000 $450,000
1.67% -2.17%
1.67% 2.27%
6.41% 5.19%
$440 $375
142 29
3.75% 4.33%
60.1881188118812 72.4

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 : Very good (H), Good (U)
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Demographics
Total population 10730
Median household income ($/weekly) 1287
Median age of persons 38
Median housing loan repayment ($/monthly) 1606
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 1533 14.3
    25-34 years 1191 11.1
    35-44 years 1446 13.5
    45-54 years 1689 15.7
    55-64 years 1280 11.9
    Others 3591 33.5
    Age Group
    Census Count Percent(%)
    Registered Married 4005 50.6
    Not Married 3092 39.1
    Defacto Relationship 813 10.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 8738 84.3
    New Zealand 70 0.7
    Papua New Guinea 126 1.2
    United Kingdom 1006 9.7
    Other 97 0.9
    Others 327 3.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 59 0.6
    Christianity 6374 65.2
    Judaism 12 0.1
    Other Religious Groups 40 0.4
    No Religion 3271 33.5
    Others 16 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 351 10.3
    $600-$799 311 9.2
    $1,250-$1,499 348 10.3
    $1,500-$1,999 506 14.9
    $2,000-$2,499 371 10.9
    Others 1505 44.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3271 39.8
    Not in the labour force 2474 30.1
    Employed, worked part-time 1835 22.3
    Employed, away from work 413 5.0
    Unemployed, looking for work 233 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 602 10.9
    Professionals 763 13.8
    Technicians & trades workers 1152 20.9
    Clerical & administrative workers 792 14.3
    Sales 626 11.3
    Others 1586 28.7
    Occupation
    Census Count Percent(%)
    Pre-school 186 7.0
    Infants/Primary 999 37.7
    Secondary 822 31.0
    Technical or Further Educational Institution 287 10.8
    University or other Tertiary Institutions 265 10.0
    Others 93 3.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 9260 90.4
    Semi-detached, row or terrace house, townhouse 573 5.6
    Flat, unit or apartment 349 3.4
    Caravan, cabin, houseboat 56 0.5
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1896 51.3
    Fully owned 1087 29.4
    Rented 635 17.2
    Other tenure type 79 2.1
    Tenure Type
Census 2011, ABS
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