Suburb Profile Report for Cranbourne VIC (3977)

Cranbourne House: Median price $495,000, Annual capital growth 7.80%, Number of sales 397, Weekly median advertised rent $340

Cranbourne Unit: Median price $350,000, Annual capital growth 6.51%, Number of sales 70, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report

VIC has seen average median house prices change by 11.63% which means that Cranbourne, 3977 has done well for property investors by showing a capital gain of 23.75% over the last year

A 57.14% growth in median value for property investors in Cranbourne,3977 puts this suburb at number 152th in terms of best performing suburbs in VIC

Cranbourne, 3977 is offering VIC ‘s 447th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this VIC.

At number 101 in a list of fastest selling suburbs, Cranbourne is in the TOP 10% of suburbs in Australia with an average of days on market 28.51 for properties listed there.

With the median price for a house in Cranbourne being $495000 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 3.57%

Over the last year, property investments in Cranbourne, 3977 have given investors a capital gain of 23.24%. This compares very favourably with the 6.52% for VIC as a whole.

Across a shorter period, Cranbourne, 3977 has seen a median price increase of 9.38% over the last quarter.

Vendor discounting in Cranbourne is giving property investors an average Vendor Discount of around -2.61%. This puts suburb at number 283th in VIC when ranking the most discounted suburbs.

On average over the past year, suburb has had 5.83 sales per month, which equates to 70 per year.

The VIC suburb of Cranbourne, 3977 is in the Casey local government area.

Metrics i HOUSE UNIT
$495,000 $350,000
5.33% 9.38%
23.75% 23.24%
7.80% 6.51%
$340 $300
397 70
3.57% 4.46%
28.51 18.44

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (U)
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Demographics
Total population 18621
Median household income ($/weekly) 1070
Median age of persons 33
Median housing loan repayment ($/monthly) 1567
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 2527 13.6
    25-34 years 2881 15.5
    35-44 years 2721 14.6
    45-54 years 2473 13.3
    55-64 years 1972 10.6
    Others 6049 32.5
    Age Group
    Census Count Percent(%)
    Not Married 6214 45.8
    Registered Married 5996 44.2
    Defacto Relationship 1347 9.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 12584 71.5
    Indonesia 542 3.1
    Papua New Guinea 604 3.4
    United Kingdom 968 5.5
    Other 1143 6.5
    Others 1752 10.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 401 2.4
    Christianity 10586 63.6
    Hinduism 394 2.4
    Islam 514 3.1
    No Religion 4509 27.1
    Others 235 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 666 11.4
    $600-$799 621 10.6
    $800-$999 651 11.2
    $1,000-$1,249 676 11.6
    $1,500-$1,999 824 14.1
    Others 2394 41.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 5547 40.3
    Not in the labour force 4636 33.7
    Employed, worked part-time 2374 17.2
    Unemployed, looking for work 663 4.8
    Employed, away from work 554 4.0
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 1540 18.2
    Clerical & administrative workers 1298 15.3
    Sales 903 10.7
    Machinery operators & drivers 1143 13.5
    Labourers 1203 14.2
    Others 2388 28.2
    Occupation
    Census Count Percent(%)
    Pre-school 321 7.8
    Infants/Primary 1503 36.4
    Secondary 1255 30.4
    Technical or Further Educational Institution 526 12.8
    University or other Tertiary Institutions 330 8.0
    Others 189 4.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 15625 88.3
    Flat, unit or apartment 1511 8.5
    Semi-detached, row or terrace house, townhouse 548 3.1
    House or flat attached to a shop, office 15 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2988 47.0
    Rented 1797 28.3
    Fully owned 1535 24.1
    Other tenure type 38 0.6
    Tenure Type
Census 2011, ABS
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