Suburb Profile Report for Somerville VIC (3912)

Somerville House: Median price $600,000, Annual capital growth 7.03%, Number of sales 139, Weekly median advertised rent $425

Somerville Unit: Median price $472,500, Annual capital growth 5.96%, Number of sales 22, Weekly median advertised rent $370

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

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

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VIC has seen average median house prices change by -1.79% which means that Somerville, 3912 has not done well for property investors by showing a capital gain of -1.64% over the last year

A 53.85% growth in median value for property investors in Somerville,3912 puts this suburb at number 258th in terms of best performing suburbs in VIC

At number 223th of VIC’s most discounted properties, Somerville is in the bottom 40% of the state/territory when listing in order of most discounted to least.

On average over the past year, suburb has had 11.58 sales per month, which equates to 139 per year.

Renters in Suburb are facing rents around $22100 per annum or $425 every week.

Investment property in Somerville 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 6.78%

Somerville,3912 has offered an average of 6.78% return per annum in house price rises to property investors over the last three years.

The most recent median price for Somerville is $472500, with sellers offering an average of -7.24% off the asking price.

On average over the past year, suburb has had 1.83 sales per month, which equates to 22 per year.

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
$600,000 $472,500
0.00% 0.53%
-1.64% 6.78%
7.03% 5.96%
$425 $370
139 22
3.68% 4.07%
55.7521367521368 72.2857142857143

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

DSR Score for property investment : 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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