Cranbourne West

POSTAL CODE: VIC, 3977

HOUSE

UNIT

Property investors enjoyed capital gains of 3.62% over the last 12 months in CRANBOURNE WEST, translating to lower returns compared with its peers in VIC.

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

The suburb posted a 5.15% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.

This number can mean, real estate investors could earn a rental income of $580 based on current median home prices for the suburb.

On average, rents on listings have reached the $580 mark, reflecting a 4.22% increase in returns based on the current median price in CRANBOURNE WEST.

CRANBOURNE WEST, 3977 ranks 336th in VIC in terms of median property value increase and capital gains, based on year-to-date figures.

While it ranks 110th on the list of best yielding suburbs for rental properties in VIC, posting a 4.22% return.

Property investors have seen a 0% gain in CRANBOURNE WEST based on an increase in median home prices for the past three months.

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

CRANBOURNE WEST, 3977 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 $530,000.

Profits due to an upward trend in home prices in CRANBOURNE WEST, 3977 averaged 0.32% per annum over a 3-year period.

This number can mean, real estate investors could earn a rental income of $510 based on current median home prices for the suburb.

The gross rental yield in CRANBOURNE WEST, 3977 is 5%.

An average of 2.25 real estate transactions take place per month in CRANBOURNE WEST which translates to 27 per annum.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$715,000	$530,000
Growth Report
Median Quarterly	1.42%	0%
Median 12 month	3.62%	1.92%
Median 3 years	5.15%	0.95%
Median 5 years	38.83%	20.45%
10 years average annual	7.88%	6.02%
Weekly media advert. rent	$580	$510
Time on Market	37 days	57.5 days
Gross Rental Yield Percent	4.22%	5%

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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