Mccrae

POSTAL CODE: VIC, 3938

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a -1.25% capital gain.

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 $1,264,000.

Profits due to an downward trend in home prices there averaged -0.42% per annum over a 3-year period.

Home owners selling their properties and realtors in MCCRAE usually have to wait an average of 75.5 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $690 mark, reflecting a 2.84% increase in returns based on the current median price in MCCRAE.

MCCRAE, 3938 places 548th in Australia based on median property value growth during the quarter.

Property investors in MCCRAE enjoyed capital gains of 4.82% over the last 12 months translating to lower returns compared with its peers in the territory.

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

Real estate investors could earn a rental income of $692.5 based on current median home prices for the suburb.

Average weekly rents on listings have reached the $692.5 mark, reflecting a 4.14% increase in returns based on the current median price in MCCRAE.

MCCRAE, 3938 ranks 142nd in VIC in terms of median property value increase and capital gains, based on year-to-date figures.

MCCRAE ranks 261st on the list of best yielding suburbs for rental properties in VIC, posting a 4.14% return.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,264,000	$870,000
Growth Report
Median Quarterly	-0.47%	-0.29%
Median 12 month	-2.77%	4.82%
Median 3 years	-1.25%	0%
Median 5 years	33.76%	55.08%
10 years average annual	8.23%	6.52%
Weekly media advert. rent	$690	$693
Time on Market	75.5 days	107.6 days
Gross Rental Yield Percent	2.84%	4.14%

Demographics (Median Values)*

Total Population 2823

Weekly Household Income 1241

Household Size 2.30

Average Age 54

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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