Cranbourne East

POSTAL CODE: VIC, 3977

HOUSE

UNIT

Property investments in CRANBOURNE EAST fare well against the rest of the country last year, registering a median home price increase of 3.5%.

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

Based on its average 5-year and quarterly capital gains CRANBOURNE EAST, 3977 saw average growth in the long term.

Real estate investors could earn a rental income of $590 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 43.3 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $740,000.

CRANBOURNE EAST ranks 124th on the list of best yielding suburbs for rental properties in VIC, posting a 4.15% return.

Based on its average 5-year and quarterly capital gains CRANBOURNE EAST, 3977 saw average growth in the long term.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Profits due to an upward trend in home prices in CRANBOURNE EAST, 3977 averaged 3.65% per annum over a 3-year period.

Average weekly rents on listings have reached the $525 mark, reflecting a 4.9% increase in returns based on the current median price in CRANBOURNE EAST.

An average of 1.83 real estate transactions take place per month in CRANBOURNE EAST which translates to 22 per annum.

22 properties were sold in CRANBOURNE EAST during the past year, making it the 253rd most active market in VIC based on total real estate transactions.

CRANBOURNE EAST, 3977 places 155th in Australia based on median property value growth during the quarter.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$740,000	$557,500
Growth Report
Median Quarterly	2%	2.29%
Median 12 month	3.5%	9.28%
Median 3 years	2.78%	10.95%
Median 5 years	27.59%	34.34%
10 years average annual	5.84%	5.8%
Weekly media advert. rent	$590	$525
Time on Market	43.3 days	94 days
Gross Rental Yield Percent	4.15%	4.9%

Demographics (Median Values)*

Total Population 93326

Weekly Household Income 1560

Household Size 3.00

Average Age 32

Monthly Loan Repayment 1768

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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