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Nar Nar Goon, VIC 3812

Home » VIC Real Estate Data » Cardinia Shire, VIC » Nar Nar Goon, VIC 3812

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 Nar Nar Goon, VIC 3812 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 

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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 “Nar Nar Goon, VIC 3812”

  1. The total adult population (15 years or older) of Nar Nar Goon 3812 VIC is 827, with a median age of 41. Of those, 48.13% are married, 11.85% are divorced or separated, 35.55% are single and 4.35% are widowed.

    The average household size is 2.7 people per dwelling, and the median household monthly income is estimated to be $8,088. The median monthly mortgage repayment for households in this suburb is $1,997 which is 24.69% of their earnings.

    Source: ABS Census Data (2021)

  2. Nestled in Victoria, the quaint suburb of NAR NAR GOON 3812 is a thriving community, home to an estimated 452 households. As we approach the tail end of 2023, i.e., Q3, the local property market exhibits some intriguing dynamics that potential property investors may want to take a closer look at.

    The typical price for a house in NAR NAR GOON 3812 sits at an enviable $918,509. When contrasted with the median weekly rent rate of $403, we find an indicative yield of 2.28%, slightly falling short of the minimum 3% benchmark that is often attractive to cashflow-centred investors.

    The suburb’s IRSAD score rests at a robust 962 out of 1217, indicating fairly strong socio-economic conditions. The renter to owner ratio is at a favourable 22%, well below the 30% mark that might indicate a market overflowing with rental properties.

    The units to houses ratio is at a meagre 9%, signifying a distinct absence of potential rental competition, while appealing arguably more to families seeking homes rather than units. However, the affordability index is a less enticing 44 years, clearly above the standard mortgage term of 30 years, which may pose challenges for long-term ownership accessibility.

    Drilling down into supply metrics, property investors would be forgiven for feeling optimistic with the low stock on market Percentage of 0.22% for houses, and an inventory level of just 1.33 months. This low supply is complemented by a slightly high building approvals Ratio of 2.43%, which could indicate some potential supply side increases.

    Demand seems to be fairly stable, with houses staying on the market for an average of 40 days, which is a neutral indication. Vacancy rates, including both houses and units, are at a favourable 2.04% falling into the attractive under 3.5% threshold. The buy search index for houses sitting steadily at 5, suggesting somewhat average interest from prospective buyers compared to the state.

    Despite a diverse mix of metrics, NAR NAR GOON 3812 offers an interesting prospect for those with an eye on property investment especially when balanced with the bigger picture of metrics trends. As always, the Relative Composite Score (RCS) from HtAG Analytics can help condense these diverse metrics into a single guiding figure. It’s crucial to remember that an occasional less-than-favourable value can be outweighed by a majority of favourable ones in an overall well-performing market.

    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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