Chirnside Park

POSTAL CODE: VIC, 3116

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A steady increase in median property prices over a five-year period in the suburb translates to a 2.13% capital gain.

Property investors in CHIRNSIDE PARK enjoyed capital gains of 7.56% over the last 12 months translating to lower returns compared with its peers in the territory.

The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $960,000.

Profits due to an upward trend in home prices there averaged 0.71% per annum over a 3-year period.

Home owners selling their properties and realtors in CHIRNSIDE PARK usually have to wait an average of 33.9 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $700 mark, reflecting a 3.79% increase in returns based on the current median price in CHIRNSIDE PARK.

CHIRNSIDE PARK, 3116 places 146th in Australia based on median property value growth during the quarter.

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

Real estate investors could earn a rental income of $640 based on current median home prices for the suburb.

Average weekly rents on listings have reached the $640 mark, reflecting a 4.89% increase in returns based on the current median price in CHIRNSIDE PARK.

CHIRNSIDE PARK, 3116 ranks 294th in VIC in terms of median property value increase and capital gains, based on year-to-date figures.

CHIRNSIDE PARK ranks 117th on the list of best yielding suburbs for rental properties in VIC, posting a 4.89% return.

Surburb overview

Chirnside Park is a suburb located approximately 38 kilometres north-east of Melbourne's Central Business District. According to the 2021 Census, it has a population of 11,779 residents.

Public transportation in Chirnside Park includes bus services connecting to neighbouring suburbs and Melbourne. However, many residents rely on private vehicles for commuting.

The suburb offers essential establishments such as the Chirnside Park Shopping Centre, which houses major retailers, including Kmart, Target, and Coles, as well as over 120 specialty stores. Educational facilities include Chirnside Park Primary School and Oxley College, a coeducational Christian school providing education from preschool to Year 12.

Recreational activities in Chirnside Park are diverse. The area extends into the Yarra Valley, known for its wineries and orchards. Sports enthusiasts can engage with local clubs such as the Chirnside Park Panthers, which offer Australian Rules football and netball. The suburb also supports basketball through the St Edmunds Basketball Club.

The median property price for a house in Chirnside Park is approximately $900,000, with an annual capital growth of -1.64%. Rental yields for houses are currently around 3.72%, with a median weekly rent of $630.

Chirnside Park offers a blend of suburban living and rural charm. Its residents enjoy a peaceful environment and convenient access to city amenities.

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