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Sorrento, VIC 3943

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 Sorrento, VIC 3943 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 “Sorrento, VIC 3943”

  1. The total adult population (15 years or older) of Sorrento 3943 VIC is 1,844, with a median age of 64. Of those, 62.09% are married, 11.17% are divorced or separated, 19.96% are single and 6.94% are widowed.

    The average household size is 2.0 people per dwelling, and the median household monthly income is estimated to be $8,860. The median monthly mortgage repayment for households in this suburb is $2,167 which is 24.46% of their earnings.

    Source: ABS Census Data (2021)

  2. The coastal suburb of Sorrento, postcode 3943, resides within Victoria and boasts an estimated 3797 households. As we moved into Q3 of 2023, the typical price for houses in this alluring location checks in at $2,148,439. A median weekly rent costs renters around $926, resulting in an indicative yield of approximately 2.24 percent.

    Diving into the socio-economic aspect of Sorrento, it scores a commendable 1099 out of 1217 on the IRSAD scale. This score reveals the relative affluence and accessibility to economic resources within the suburb, pointing to a healthier income bracket and a proliferation of skilled professions. Meanwhile, the renter to owner ratio is a mere 13 percent. This low percentage shows an area primarily dominated by homeowners which reduces competition for property investors and offers higher chances of stable, long-term tenants.

    The units to houses ratio is surprisingly low at 4 percent. This suggests a property market heavily oriented towards houses over units, supporting longer rental tenures and increasing the neighbourhood’s appeal to families.

    However, the affordability index presents a challenge. At 95 years, it significantly exceeds the average 30-year mortgage duration, revealing an elevated barrier to entry for homeownership within the area. This factor, however, may increase the renter pool size, a potential advantage for property investors.

    From a supply perspective, Sorrento’s property market reflects a favourable scenario. The stock on market Percentage for houses is at a low 0.08 percent and inventory levels check in at just 0.52 months. This shows a tight supply situation that could drive prices higher. Additionally, the building approvals Ratio is modest at 0.49%, indicating a limited increase in new residential dwellings in the area.

    The average number of days on market for houses is 49, showing a moderate demand. The vacancy rate, which covers both houses and units, is a reasonable 2.04%, suggesting a well-balanced rental market. The Buy Search Index, a measure of potential buyer interest, is at a strong 9. This implies a higher-than-average interest in house purchasing in Sorrento compared to the state or city average.

    Despite the slight concerning point on affordability, the overall data suggest solid fundamentals making Sorrento potentially an interesting prospect for discerning property investors and homeowners alike. As always, keeping an eye on market developments and trends is crucial for successful property investment.

    Remember, a contextually comprehensive evaluation can also leverage the Relative Composite Score (RCS) by HtAG Analytics, utilizing more than 80 metrics for a holistic research overview.

    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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