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Mccrae, VIC 3938

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 Mccrae, VIC 3938 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 

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 “Mccrae, VIC 3938”

  1. The total adult population (15 years or older) of Mccrae 3938 VIC is 2,917, with a median age of 55. Of those, 54.54% are married, 13.78% are divorced or separated, 26.77% are single and 5.01% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $7,432. The median monthly mortgage repayment for households in this suburb is $2,000 which is 26.91% of their earnings.

    Source: ABS Census Data (2021)

  2. The quaint suburb of McCrae, with postal code 3938, is nestled in the vibrant state of Victoria. Its cosy community boasts an estimated 2,479 households. As we transitioned into Q3 of 2023, house prices in McCrae averaged at a cool $1,330,017, while the median weekly rent hit a reasonable $602. This sets an indicative yield of 2.35%, falling just under the favourable market threshold of 3%.

    McCrae’s socio-economic score, or IRSAD, notches up to 1,016 out of 1,217. This above-average score suggests a favourable social economic standing with better access to economic resources, higher income levels and prevalent skilled professions.

    The landscape of property ownership leans heavily towards homeowners, with a favourable renter to owner ratio of 15%. This low concentration of renters provides a stable property market environment and lower competition among landlords. Adding to this stability is the low units to houses ratio at 7%, which means there is a good deal more houses than units, thus mitigating the risk of oversupply from an abundance of rental properties.

    However, affordability is somewhat challenged, as evidenced by a high affordability index of 70 years. In layman’s terms, it would take roughly 70 years to fully own a typical property in McCrae, with all factors considered. This could hinder property turnover and appeal to potential buyers.

    When it comes to supply metrics, things look more reassuring. With a stock on market Percentage of 0.46%, there is a balanced real estate market with no major oversupply. The inventory level scrapes just under the favourable limit at a low 1.64 months, suggesting fast absorption of new properties into the market. Furthermore, the building approvals Ratio for houses is a low 0.69%, indicating a measured pace of new property approvals.

    Demand however needs to be watched closely. Houses spend an average of 51 days on the market, which indicates a slight slowdown in sales momentum but is still within reasonable limits. The vacancy rate (combining houses and units) is high at 5.33% which can increase competition among landlords for tenants. Conversely, the buy search index is encouraging at a favourable 6, pointing to high interest in property purchases within McCrae.

    This quick snapshot depicts McCrae as a suburb offering a blend of both favourable and challenging property conditions. It’s essential to keep close tabs on these metrics, watching for their trends and taking into account personal investment preferences and goals. Remember, it’s entirely within reason to consider a property in a suburb with a few unfavourable metrics, especially if the bulk of the other metrics are encouraging. For those seeking further assistance and a more thorough analysis, the Relative Composite Score (RCS) developed by HtAG Analytics can simplify the process by collating over 80 metrics into one composite score.

    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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