Suburb Profile Report for Cranbourne VIC (3977)

Cranbourne House: Median price $500,500, Annual capital growth 5.62%, Number of sales 288, Weekly median advertised rent $360

Cranbourne Unit: Median price $370,000, Annual capital growth 4.96%, Number of sales 73, Weekly median advertised rent $330

  • 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

VIC has seen average median house prices change by 4.41% which means that Cranbourne, 3977 has done well for property investors by showing a capital gain of -3.75% over the last year

While Cranbourne,3977 ranked number 478th in VIC for increase in median house value (annualised) increase, it is ranked 191th over the last 5 years.

Cranbourne, 3977 is offering VIC ‘s 57th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this VIC.

In the last year 288 properties changed hands in Cranbourne, which puts it as the 45th most active market in VIC when comparing the number of sales per suburb.

Property investors who have had real estate in Cranbourne, 3977 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -4.02%

Cranbourne,3977 has offered an average of -4.02% return per annum in house price rises to property investors over the last three years.

At number 70th of VIC’s most discounted properties, Cranbourne is in the bottom 30% of the state/territory when listing in order of most discounted to least.

Advertised rents are around the $330 mark per week – giving a return of 4.64% based on the median price in Suburb

Metrics i HOUSE UNIT
$500,500 $370,000
0.65% 1.37%
-3.75% -4.02%
5.62% 4.96%
$360 $330
288 73
3.74% 4.64%
69.4574898785425 51.0862068965517

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 : Above average (H), Above average (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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