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Caroline Springs
AREA REPORTS

Caroline Springs

Caroline Springs - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3023

house
unit

CAROLINE SPRINGS, 3023 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in VIC have risen as a whole, pulling CAROLINE SPRINGS, 3023 values up and netting property investors a capital gain of 10% for the past year.

Investors saw the median home price rise to $720,500.

Profits due to an upward trend in home prices in the suburb averaged 6.04% per annum over a 3-year period.

CAROLINE SPRINGS now ranks at the 311th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in CAROLINE SPRINGS are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $430 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In CAROLINE SPRINGS, homes and units usually stay on listing for an average of 39.9 days.

In 2016, 354 properties were sold in CAROLINE SPRINGS during the past year, making it the 299th most active market in VIC based on total real estate transactions.

Data report can be found below

Caroline Springs
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $720,500 $465,000
GROWTH REPORT
Median Quarterly 4.5% -0.32%
Median 12 month 10% -1.06%
Median 3 years 18.11% 3.56%
Median 5 years 35.94% 17.72%
10 years average annual 5.64% 1.88%
Weekly media advert. rent $430 $380
Time on Market 39.9 days 53.4 days
Gross Rental Yield Percent 3.1% 4.25%
demographics (median values)*
Total Population
63972
Weekly Household Income
1586
Household Size
3.20
Age
33
Monthly Loan Repayment
1800
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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