Suburb Profile Report for Dromana VIC (3936)

Dromana House: Median price $698,000, Annual capital growth 7.47%, Number of sales 196, Weekly median advertised rent $395

Dromana Unit: Median price $505,000, Annual capital growth 6.57%, Number of sales 29, Weekly median advertised rent $340

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Dromana have tracked just higher than the VIC average of 11.69% over the last 12 months.

If we look at median property appreciation over just the last three months, Dromana has given property investors a paper return of 4.18%. This puts Suburb as 171 on a list of fastest fasting appreciating suburbs in VIC

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Dromana, 3936. Typically our figures indicate that -4.67% is being offered, which puts this VIC suburb at 2493th most discounted overall in Australia.

Renters in Suburb are facing rents around $4740 per annum or $395 every week.

Property value increases in Dromana have tracked lower than the VIC average of 7.87% over the last 12 months.

While Dromana,3936 ranked number 363th in VIC for increase in median house value (annualised) increase, it is ranked 248th over the last 5 years.

Property investors looking for a bargain in Dromana should be aiming for at least -5.80% off the asking price, which is the average vendor discount being achieved at the moment.

Renters in Suburb are facing rents around $4080 per annum or $340 every week.

Metrics i HOUSE UNIT
$698,000 $505,000
4.18% -13.68%
16.58% -5.16%
7.47% 6.57%
$395 $340
196 29
2.94% 3.50%
55.83 57.16

Source: CoreLogic

DSR Score for property investment : Above average (H), Balanced (U)
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Demographics
Total population 5125
Median household income ($/weekly) 878
Median age of persons 49
Median housing loan repayment ($/monthly) 1500
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 514 10.0
    35-44 years 631 12.3
    45-54 years 661 12.9
    55-64 years 801 15.6
    65-74 years 755 14.7
    Others 1763 34.4
    Age Group
    Census Count Percent(%)
    Registered Married 1889 47.9
    Not Married 1636 41.5
    Defacto Relationship 415 10.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 3941 80.8
    Hong Kong 81 1.7
    Japan 84 1.7
    United Kingdom 334 6.8
    Other 122 2.5
    Others 316 6.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 65 1.4
    Christianity 3145 67.0
    Islam 25 0.5
    Other Religious Groups 24 0.5
    No Religion 1411 30.1
    Others 22 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 317 16.2
    $600-$799 241 12.3
    $800-$999 229 11.7
    $1,000-$1,249 194 9.9
    $1,500-$1,999 213 10.9
    Others 768 39.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1930 46.3
    Employed, worked full-time 1199 28.8
    Employed, worked part-time 774 18.6
    Employed, away from work 136 3.3
    Unemployed, looking for work 127 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 246 11.7
    Professionals 328 15.6
    Technicians & trades workers 407 19.3
    Clerical & administrative workers 269 12.8
    Sales 255 12.1
    Others 601 28.5
    Occupation
    Census Count Percent(%)
    Pre-school 72 8.5
    Infants/Primary 319 37.6
    Secondary 256 30.2
    Technical or Further Educational Institution 92 10.8
    University or other Tertiary Institutions 78 9.2
    Others 31 3.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4141 86.6
    Flat, unit or apartment 390 8.2
    Semi-detached, row or terrace house, townhouse 197 4.1
    Caravan, cabin, houseboat 48 1.0
    House or flat attached to a shop, office 7 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 932 44.1
    Rented 603 28.5
    Being purchased 566 26.8
    Other tenure type 14 0.7
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals