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Carnegie, VIC 3163

Home » VIC Real Estate Data » Glen Eira City, VIC » Carnegie, VIC 3163

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 Carnegie, VIC 3163 located in Melbourne 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 

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Rent 

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Yield 

2BR

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5BR

Buy 

1BR

2BR

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Rent 

1BR

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Yield 

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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 “Carnegie, VIC 3163”

  1. The total adult population (15 years or older) of Carnegie 3163 VIC is 15,429, with a median age of 36. Of those, 40.99% are married, 10.00% are divorced or separated, 44.80% are single and 4.25% are widowed.

    The average household size is 2.2 people per dwelling, and the median household monthly income is estimated to be $10,180. The median monthly mortgage repayment for households in this suburb is $2,040 which is 20.04% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Carnegie 3163, situated in Victoria (VIC), is home to approximately 9,979 households. As of the third quarter in 2023, typical house prices in Carnegie sat at $1,513,212 AUD, paired with a median weekly rent of $669. This combination generates an indicative yield of 2.3%, slightly below the minimum attractive market requirement for cashflow-centred property investors.

    In terms of its socio-economic climate, Carnegie scores a solid 1088 out of a possible 1217 on the IRSAD scale. This score indicates a suburb with strong socio-economic conditions, characterised by good access to economic resources and a high concentration of skilled professionals.

    The renter to owner ratio in Carnegie is 42%, which is somewhat high. This ratio suggests a slight over-saturation of the rental market, potentially leading to lower returns over the long term. It also could affect the overall appeal and vibe of the neighbourhood due to an elevated presence of short-term residents. Despite this, the prevalence of renters in the area aligns with a high proportion of units to houses, currently standing at 70%. This market is thus highly competitive amongst landlords hunting for tenants, and risk is posed in case of any cooling in the market or regulatory changes.

    In terms of affordability, residents in Carnegie face a lengthy 58 years to own a house outright in current conditions. This is calculated against typical property prices, median family income and current interest rates, making assumptions about a standard 30-year mortgage. This score indicates decreased affordability in the area.

    Looking at the supply metrics, the stock on market Percentage for houses in Carnegie is 0.12%, which signifies a low supply, a favourable condition for property owners. Similarly, the inventory level for houses is low at 0.37 months, again pointing to a market favourable for sellers. The building approvals Ratio is also on the lower end at 0.45%, indicating a modest supply of new properties in the market.

    From a demand perspective, houses typically spend 24 days on the market, confirming a high demand for properties in Carnegie. Complementing this, the vacancy rate for houses and units combined is a minimal 0.97%, again reflecting high demand. However, the buy search index for houses sits at 3, indicative of a somewhat limited demand.

    It’s important to note that while some metrics fall outside the desirable ranges, e.g., affordability index and renter to owner Ratio, others including stock on market Percentage, Days on Market, and Vacancy Rate, paint a different picture. A balanced analysis, therefore, is vital when considering investment in the property market of Carnegie, Victoria. The HtAG Analytics’ Relative Composite Score (RCS) can be a valuable tool allowing easy comparison between different regions using numerous metrics.

    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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