Suburb Profile Report for Mccrae VIC (3938)

Mccrae House: Median price $795,000, Annual capital growth 6.62%, Number of sales 69, Weekly median advertised rent $420

Mccrae Unit: Median price $610,000, Annual capital growth 6.60%, Number of sales 13, Weekly median advertised rent $445

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

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

  • House Report
  • Unit Report

Investment property in Mccrae has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 1.21%

While Mccrae,3938 ranked number 393th in VIC for increase in median house value (annualised) increase, it is ranked 316th over the last 5 years.

Property investors looking for a bargain in Mccrae should be aiming for at least -8.21% off the asking price, which is the average vendor discount being achieved at the moment.

A $420 per week rent on the median house gives suburb investors a gross yield of circa 2.75%, without taking into account capital value appreciation, which has been averaging out at 6.62%.

At number 1406th in the list of Australian suburbs ordered by increase in median house value over the last year, Mccrae, 3938 is in the BOTTOM 10% with a property value increase of -13.72% recorded in median house prices.

Over the longer term, Mccrae has seen property prices show investors a 1.45% return over the last 3 years. This is worse than over the last 12 months

In the last year 13 properties changed hands in Mccrae, which puts it as the 344th most active market in VIC when comparing the number of sales per suburb.

Property investors should expect to get $445 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$795,000 $610,000
1.27% -12.86%
1.21% -13.72%
6.62% 6.60%
$420 $445
69 13
2.75% 3.79%
74.9166666666667 N/A

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

DSR Score for property investment : Good (H), Balanced (U)
Find a mortgage broker in Mccrae VIC
Demographics
Total population 2543
Median household income ($/weekly) 997
Median age of persons 52
Median housing loan repayment ($/monthly) 1625
Average household size 2.3
  • Census Count Percent(%)
    35-44 years 293 11.5
    45-54 years 366 14.4
    55-64 years 437 17.2
    65-74 years 420 16.5
    75-84 years 239 9.4
    Others 788 31.0
    Age Group
    Census Count Percent(%)
    Registered Married 1025 54.1
    Not Married 657 34.7
    Defacto Relationship 211 11.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 2029 86.7
    Japan 21 0.9
    Papua New Guinea 30 1.3
    United Kingdom 149 6.4
    Other 29 1.2
    Others 83 3.5
    Country of Birth
    Census Count Percent(%)
    Christianity 1450 65.3
    No Religion 745 33.5
    Buddhism 16 0.7
    Other Religious Groups 7 0.3
    Judaism 3 0.1
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 99 11.2
    $600-$799 108 12.2
    $800-$999 121 13.7
    $1,000-$1,249 90 10.2
    $1,500-$1,999 93 10.5
    Others 374 42.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 927 44.8
    Employed, worked full-time 598 28.9
    Employed, worked part-time 441 21.3
    Employed, away from work 72 3.5
    Unemployed, looking for work 32 1.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 130 11.8
    Professionals 223 20.2
    Technicians & trades workers 215 19.4
    Clerical & administrative workers 134 12.1
    Sales 135 12.2
    Others 269 24.3
    Occupation
    Census Count Percent(%)
    Pre-school 25 6.6
    Infants/Primary 143 37.6
    Secondary 108 28.4
    Technical or Further Educational Institution 51 13.4
    University or other Tertiary Institutions 36 9.5
    Others 17 4.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2145 95.9
    Semi-detached, row or terrace house, townhouse 67 3.0
    Flat, unit or apartment 25 1.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 482 49.5
    Being purchased 314 32.3
    Rented 170 17.5
    Other tenure type 7 0.7
    Tenure Type
Census 2011, ABS
Chart Table