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Doreen
AREA REPORTS

Doreen

Doreen - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3754

house
unit

Property investors have seen a 2.43% gain in DOREEN based on an increase in median home prices for the past three months.

Homeowners and real estate investors betting on DOREEN, 3754 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 13.7%.

Based on its average 5-year and quarterly capital gains DOREEN, 3754 saw average growth in the long term.

The VIC 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 $717,000

Profits averaged 6.5% per annum over a 3-year period, due to an upward trend in home prices in DOREEN, 3754.

This means, real estate investors could earn a rental income of $420 based on current median home prices for the suburb.

The gross rental yield in DOREEN, 3754 is 3.05%.

An average of 44.92 real estate transactions take place per month in DOREEN which translates to 539 per annum.

Surburb overview

To its residents, Doreen is a suburb with a character, shaped by its diverse community, amicable atmosphere and rapid pace of development.

Doreen continues to exceed the expectations of long-time residents and new homeowners, who have been surprised by the availability of a range of shopping centres, schools, parks and recreational facilities, and restaurants. More upgrades are in store for the suburb, with new developments in the pipeline. Rural properties hitting the market are also eagerly snagged by savvy developers, who can turn Doreen’s real estate into the next most sought-after postcode.

Surging demand

Demand for houses for sale is on an upswing in Doreen as first-time home buyers and professionals move into the suburb for its affordability and accessibility. The median home price in Doreen has climbed consistently in recent months but remains considerably reasonable, proving favourable for buyers who have been priced out by Melbourne’s inner suburbs. Realtors and buyers anticipate that the completion of the Mernda rail extension project could speed up the suburb’s expansion and prompt the construction of new retail hubs and facilities around the area.

Improving infrastructure in surrounding suburbs is also driving growth in Doreen. New employment opportunities have opened up as a result.

Data report can be found below

Doreen
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $717,000 $509,000
GROWTH REPORT
Median Quarterly 2.43% 4.95%
Median 12 month 13.7% N/A
Median 3 years 19.5% N/A
Median 5 years 46.33% 15.68%
10 years average annual 4.78% 24.98%
Weekly media advert. rent $420 $365
Time on Market 21.2 days 45.4 days
Gross Rental Yield Percent 3.05% 3.73%
demographics (median values)*
Total Population
37757
Weekly Household Income
1742
Household Size
3.00
Age
31
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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