Craigieburn

POSTAL CODE: VIC, 3064

HOUSE

UNIT

CRAIGIEBURN, 3064 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 CRAIGIEBURN, 3064 values up and netting property investors a capital gain of 8.33% for the past year.

Investors saw the median home price rise to $715,000.

Profits due to an upward trend in home prices in the suburb averaged 2.81% per annum over a 3-year period.

CRAIGIEBURN now ranks at the 230th 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 CRAIGIEBURN 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 $550 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 CRAIGIEBURN, homes and units usually stay on listing for an average of 56.6 days.

In 2016, 1030 properties were sold in CRAIGIEBURN during the past year, making it the 725th most active market in VIC based on total real estate transactions.

CRAIGIEBURN ranks 214th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.

CRAIGIEBURN, 3064 has a capital gain of 12.56% for the past year, which is higher than average compared to its 27.01% growth within a five-year period.

With the median home price in CRAIGIEBURN sitting at $475,000, and the average rent at $470, property owners could potentially earn a 5.15% increase in gross rental yield.

Property investors have seen a 5.56% gain in CRAIGIEBURN based on an increase in median home prices for the past three months.

Homeowners and real estate investors betting on CRAIGIEBURN, 3064 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 12.56%.

A survey of average capital gains or median home price increase in suburbs across the country shows that CRAIGIEBURN, 3064 obtained a 3.73% growth over a ten-year period. It ranks 1153rd on our list of suburbs that property investors should look into.

Surburb overview

Craigieburn real estate is seeing a surging interest in property investments as first-time buyers and discerning investors begin to take notice of value-for-money homes and units in the urban fringe. Located within 26 kilometres of Melbourne’s central business district, Craigieburn is conveniently located close to offices, recreational areas and public amenities without the hefty price tag. Navigating the city can be done through private car, bus or the Craigieburn line, which the government is upgrading to ease residents’ commute during peak hours.

Craigieburn real estate market overview

Prices have slightly improved in the suburb in the past 10 years, with houses sold in Craigieburn registering a decent increase in prices. The Craigieburn rental market is also creeping up, with rental yield for homes and units averaging between $300 and $500 per week.

One of the residential areas in the Craigieburn that’s gathering a lot of buzz is the Highlands, a master-planned community that features a newly constructed primary school, parklands, shopping centres and a variety of real estate for sale to choose from. The suburb also has a range of new housing estates to suit one’s budget and ideals for community living. Meanwhile, those stopping by for the day can stay at an array of accommodations in Craigieburn, the most popular of which is the Highlands Hotel.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$715,000	$475,000
Growth Report
Median Quarterly	2.88%	5.56%
Median 12 month	8.33%	12.56%
Median 3 years	8.42%	10.08%
Median 5 years	27.56%	27.01%
10 years average annual	6.43%	3.73%
Weekly media advert. rent	$550	$470
Time on Market	56.6 days	43.8 days
Gross Rental Yield Percent	4%	5.15%

Demographics (Median Values)*

Total Population 75457

Weekly Household Income 1480

Household Size 3.40

Average Age 30

Monthly Loan Repayment 1733

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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