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Cranbourne East, VIC 3977

Home » VIC Real Estate Data » Casey City, VIC » Cranbourne East, VIC 3977

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 Cranbourne East, VIC 3977 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 

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 “Cranbourne East, VIC 3977”

  1. The total adult population (15 years or older) of Cranbourne East 3977 VIC is 17,954, with a median age of 31. Of those, 55.79% are married, 8.09% are divorced or separated, 31.71% are single and 4.37% are widowed.

    The average household size is 3.3 people per dwelling, and the median household monthly income is estimated to be $7,900. The median monthly mortgage repayment for households in this suburb is $2,000 which is 25.32% of their earnings.

    Source: ABS Census Data (2021)

  2. Located in Victoria, the suburb of Cranbourne East 3977 is home to an estimated 9,408 households. By the third quarter of 2023, houses in the area are typically priced at $733,052, with a median weekly rent of $455. This amounts to an indicative yield of 3.23%, slightly above the 3% threshold that’s attractive to cash-centered property investors.

    Cranbourne East 3977 has a socio-economic (IRSAD) score of 985 out of 1,217, suggesting it is home to residents with a good standard of living. It has an advantageous renter to owner ratio of 23%, indicating a healthy property investment market for long-term returns as it is below the 30% threshold. The ratio of units to houses is a mere 1%, indicating a dominance of houses over units which provides less rental competition and helps maintain rental yields. However, the affordability index is slightly high at 36 years, indicating a more difficult path to homeownership for the typical residents in the area.

    The stock on market Percentage for houses is 0.7%, signifying a neutral market condition. Similarly, the inventory level for houses, at 2.7 months, suggests a balanced market that is capable of absorbing new listings. The building approvals Ratio for houses is slightly high at 2.81%, potentially indicating an increased supply of new dwelling stock in the market. This could result in price drops if the market cools or if there are regulatory changes, hence it is a point to keep a close eye on.

    The average days on market for houses is 43 days, falling within the neutral range, but certainly showing some demand. The combined vacancy rate for houses and units is 1.74%, which shows a low to neutral demand according to the 1 – 3.5% comfort zone for this metric. Additionally, the buy search index for houses is 3, representing a neutral consumer interest in buying houses.

    In summary, while Cranbourne East 3977 has some factors that may affect returns, such as the high affordability index and building approval ratio, the suburb holds several other appealing factors for property investors. The good socio-economic score and favourable renter to owner and units to houses ratios, alongside the indicative yeild above 3% show promising signs for a good long-term investment. It’s critical to continue monitoring these property market metrics, particularly in light of potential changes in building approvals, to make informed property investment decisions.

    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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