Dromana

POSTAL CODE: VIC, 3936

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a -13.64% capital gain.

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 $950,000.

Profits due to an downward trend in home prices there averaged -4.55% per annum over a 3-year period.

Home owners selling their properties and realtors in DROMANA usually have to wait an average of 77.2 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $627.5 mark, reflecting a 3.43% increase in returns based on the current median price in DROMANA.

DROMANA, 3936 places 523rd 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 DROMANA are low, as opposed to average gains per annum over the past five years.

Real estate investors could earn a rental income of $600 based on current median home prices for the suburb.

Average weekly rents on listings have reached the $600 mark, reflecting a 4.16% increase in returns based on the current median price in DROMANA.

DROMANA, 3936 ranks 324th in VIC in terms of median property value increase and capital gains, based on year-to-date figures.

DROMANA ranks 255th on the list of best yielding suburbs for rental properties in VIC, posting a 4.16% return.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$950,000	$750,000
Growth Report
Median Quarterly	0.11%	1.76%
Median 12 month	-0.78%	-5.66%
Median 3 years	-13.64%	-4.76%
Median 5 years	23.78%	23.76%
10 years average annual	5.98%	10.8%
Weekly media advert. rent	$628	$600
Time on Market	77.2 days	90.6 days
Gross Rental Yield Percent	3.43%	4.16%

Demographics (Median Values)*

Total Population 11024

Weekly Household Income 1157

Household Size 2.30

Average Age 50

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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