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Carrum
AREA REPORTS

Carrum

Carrum - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3197

house
unit

Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $971,000.

The upward trend in home prices in CARRUM, 3197 averaged 8.84% per annum over a 3-year period.

Average weekly rents on listings have reached the $452.5 mark, reflecting a 2.42% increase in returns based on the current median price in CARRUM.

An average of 4.42 real estate transactions take place per month in CARRUM which translates to 53 per annum.

53 properties were sold in CARRUM in 2016, making it the 170th most active market in VIC based on total real estate transactions.

CARRUM, 3197 places 557th in Australia based on median property value growth during the quarter.

Data report can be found below

Carrum
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $971,000 $752,750
GROWTH REPORT
Median Quarterly 2.08% -0.47%
Median 12 month 16.99% 7.54%
Median 3 years 26.51% 11.35%
Median 5 years 50.54% 39.4%
10 years average annual 7.97% 6.18%
Weekly media advert. rent $452.5 $460
Time on Market 26.3 days 41.6 days
Gross Rental Yield Percent 2.42% 3.18%
demographics (median values)*
Total Population
11548
Weekly Household Income
1547
Household Size
2.40
Age
43
Monthly Loan Repayment
1950
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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