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Castlemaine, VIC 3450

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Castlemaine, VIC 3450 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Castlemaine, VIC 3450”

  1. The total adult population (15 years or older) of Castlemaine 3450 VIC is 6,559, with a median age of 52. Of those, 38.10% are married, 17.18% are divorced or separated, 36.33% are single and 8.48% are widowed.

    The average household size is 2.0 people per dwelling, and the median household monthly income is estimated to be $6,532. The median monthly mortgage repayment for households in this suburb is $1,362 which is 20.85% of their earnings.

    Source: ABS Census Data (2021)

  2. Nestled within the state of Victoria (VIC), the suburb of Castlemaine, postcode 3450, is the home to an estimated 4529 households. As of the third Quarter of 2023, the typical house prices in this residential pocket stands at an average of $820,726. Accompanying this is a median weekly rent of $410, combining to produce an indicative yield of 2.6%, just slightly below the favourable minimum requirement of 3% for cashflow-centered property investors.

    Castlemaine suburb boasts an IRSAD, which represents the socio-economic status of the population, score of 980 out of 1217, indicating a community with a high level of economic resources and perhaps income levels.

    Speaking to the balance of renter to owner occupation, the ratio stands at a favourable 23% – below the cautious threshold of 30%. The units to houses ratio is quantified as 6%, indicating a well-distributed supply towards houses, lessening competition among landlords for tenants, thereby strategically positioning for higher rental yields due to fewer units.

    The suburb of Castlemaine stands tall with an affordability index of 49 years, representative of how long it will take to fully own a property, slightly above the welcoming value of 31 years indicative of affordable markets.

    Delving into supply dynamics, the stock on the market percentage for houses is at a favourable 0.14% and its inventory level is also favourably low at 0.67 months. These metrics indicate a low supply of houses in the market. The building approvals ratio for houses stands firm at 0.37%, favourably below the 0.3% threshold, once again signalling limited new supply.

    On the demand side, the average number of days houses stay ‘for sale’ on the market, also known as Days on Market, is clocked at 66. While this skirts a bit over the favourable threshold of 35 days, it’s still within a manageable range. With a vacancy rate of 1.14%, this demonstrates a fairly high demand, as it represents an impressively low vacancy within combined houses and units in the housing market of Castlemaine. Rounding up the demand metrics is the buy search index for houses standing at 4, classified as neutral in terms of demand.

    As an investor, keeping a finger on the pulse of both supply and demand metrics in your target suburbs like Castlemaine is crucial to spotting investment possibilities. The HtAG Analytics’ Relative Composite Score (RCS) can be a significant tool for investors, incorporating over 80 metrics for an all-encompassing, automated snapshot of the market dynamics at play. Remember, not all metrics need to fall within the favourable range provided the majority do, indicating that Castlemaine’s property market shows great potential.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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