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Mckinnon, VIC 3204

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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 Mckinnon, VIC 3204 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.

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Rent 

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Yield 

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Buy 

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Rent 

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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 “Mckinnon, VIC 3204”

  1. The total adult population (15 years or older) of Mckinnon 3204 VIC is 5,453, with a median age of 40. Of those, 52.03% are married, 9.37% are divorced or separated, 34.05% are single and 4.64% are widowed.

    The average household size is 2.8 people per dwelling, and the median household monthly income is estimated to be $11,512. The median monthly mortgage repayment for households in this suburb is $2,689 which is 23.36% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of McKinnon 3204, located in Victoria, is a burgeoning residential area comprising an estimated 3055 households. The Q3 2023 property market data reveals several crucial characteristics that are pertinent to both potential homeowners and property investors seeking attractive returns.

    Primarily, the current typical price for houses in McKinnon is approximately $1,867,603, with the median weekly rent sitting at a substantial $809. This price-to-rent ratio subsequently results in an indicative yield of 2.25%. While this yield sits slightly below the 3% cashflow-centric investor threshold, it indicates a relatively balanced market for those looking at capital gains in future.

    With regards to its demographic profile, McKinnon bolsters a robust IRSAD socio-economic score of 1112, coming just little short of the maximum score of 1217. This high score signifies a strong socio-economic status, boasting access to economic resources, sizeable earnings, and a skilled professional populace.

    In terms of rental properties, McKinnon has a 33% renter to owner ratio, just a smidge above the desired 30% threshold. However, it’s still far from the 45% saturation point, suggesting a well-managed rental market with good potential returns. Continuing in the line of housing dynamics, the unit to house ratio is 31%, an ideal mark below the 50% mark, implying a healthy mixture of housing types and a sustainable property investment platform.

    Unfortunately, the affordability index might be a concern, as it stands at 64 years based on a standard 30-year mortgage calculation. This elevated figure indicates a local market with less affordability, especially for first-time home buyers.

    From the supply perspective, McKinnon performs excellently with a low stock on the market percentage of 0.28% for houses, indicating reduced competition among sellers. Furthermore, with a building approval ratio of 0.64%, new housing supply appears to be well managed, keeping the supply and demand balance in check.

    Houses in McKinnon are also selling relatively quickly, with the average ‘Days on Market’ for houses standing at just 27 days. This low figure indicates a high demand in the local real estate market.

    Lastly, with a McKinnon-wide vacancy rate of 1.71%, and a buy search index score of 4, there’s a strong balance between housing supply and demand. Renters and buyers have sufficient choices, yet scarcity isn’t leading to vacant homes or lacklustre buyer interest.

    While McKinnon’s property market may not satisfy every single metric perfectly, the suburb boasts numerous favourable characteristics attractive to a wide range of investors and homeowners. Real estate decisions should always factor in a holistic view of the market conditions, trends, and broader economic indicators. Property endeavours backed by thorough research, and market intel such as HtAG Analytics’ Relative Composite Score are far more likely to yield successful outcomes.

    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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