Suburb Profile Report for Cranbourne North VIC (3977)

Cranbourne North House: Median price $580,000, Annual capital growth 8.34%, Number of sales 341, Weekly median advertised rent $370

Cranbourne North Unit: Median price $425,000, Annual capital growth 5.91%, Number of sales 15, Weekly median advertised rent $330

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

Investment property in Cranbourne North 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 19.59%

Across a shorter period, Cranbourne North, 3977 has seen a median price increase of 2.65% over the last quarter.

State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.19% offered to property buyers. Sellers in Cranbourne North itself are offering an average vendor discount of -3.80% to real estate investors.

Often selling an investment property can take time, and in Cranbourne North the average time real estate has been on the market is 29.19 days.

Advertised rents are around the $370 mark per week – giving a return of 3.32% based on the median price in Suburb

If you compare the increase in value of investment property in Cranbourne North, 3977 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 14.86%.

Cranbourne North,3977 has offered an average of 14.86% return per annum in house price rises to property investors over the last three years.

The most recent median price for Cranbourne North is $425000, with sellers offering an average of -3.42% off the asking price.

Residents and property investors in Cranbourne North have been waiting around 11.7 days to sell a property.

Metrics i HOUSE UNIT
$580,000 $425,000
2.65% 2.41%
19.59% 14.86%
8.34% 5.91%
$370 $330
341 15
3.32% 4.04%
29.19 11.7

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 14571
Median household income ($/weekly) 1355
Median age of persons 30
Median housing loan repayment ($/monthly) 1810
Average household size 3
  • Census Count Percent(%)
    0-4 years 1342 9.2
    5-14 years 2278 15.6
    25-34 years 2666 18.3
    35-44 years 2269 15.6
    45-54 years 1879 12.9
    Others 4137 28.4
    Age Group
    Census Count Percent(%)
    Registered Married 5134 49.6
    Not Married 4052 39.2
    Defacto Relationship 1163 11.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 9411 67.7
    Indonesia 626 4.5
    Sri Lanka 368 2.6
    United Kingdom 676 4.9
    Other 1181 8.5
    Others 1634 11.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 461 3.5
    Christianity 8090 61.1
    Hinduism 488 3.7
    Islam 692 5.2
    No Religion 3291 24.8
    Others 229 1.7
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 406 9.7
    $1,000-$1,249 493 11.7
    $1,250-$1,499 454 10.8
    $1,500-$1,999 744 17.7
    $2,000-$2,499 549 13.1
    Others 1554 37.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 4805 45.8
    Not in the labour force 2903 27.7
    Employed, worked part-time 1878 17.9
    Unemployed, looking for work 468 4.5
    Employed, away from work 427 4.1
    Person Characteristics
  • Census Count Percent(%)
    Professionals 829 11.7
    Technicians & trades workers 1241 17.5
    Clerical & administrative workers 1161 16.3
    Machinery operators & drivers 846 11.9
    Labourers 799 11.2
    Others 2232 31.4
    Occupation
    Census Count Percent(%)
    Pre-school 291 8.0
    Infants/Primary 1366 37.6
    Secondary 1081 29.7
    Technical or Further Educational Institution 417 11.5
    University or other Tertiary Institutions 330 9.1
    Others 152 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 13569 96.6
    Flat, unit or apartment 329 2.3
    Semi-detached, row or terrace house, townhouse 136 1.0
    House or flat attached to a shop, office 7 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2809 61.3
    Rented 968 21.1
    Fully owned 785 17.1
    Other tenure type 20 0.4
    Tenure Type
Census 2011, ABS
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