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Nerrina, VIC 3350

Home » VIC Real Estate Data » Ballarat City, VIC » Nerrina, VIC 3350

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 Nerrina, VIC 3350 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 “Nerrina, VIC 3350”

  1. The total adult population (15 years or older) of Nerrina 3350 VIC is 785, with a median age of 42. Of those, 55.03% are married, 10.32% are divorced or separated, 30.96% are single and 2.80% are widowed.

    The average household size is 2.7 people per dwelling, and the median household monthly income is estimated to be $11,292. The median monthly mortgage repayment for households in this suburb is $1,717 which is 15.21% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Nerrina, postcode 3350, is located in Victoria (VIC), Australia, home to an estimated 447 households. As we ventured into the third quarter (Q3) of 2023, the typical housing prices in Nerrina were recorded at $807,046 AUD. These properties command a median weekly rent of $495 AUD, which represents an indicative yield of 3.18% – a value just above the 3% attractive market requirement favoured by cashflow-centered investors.

    When considering socio-economic factors, Nerrina proudly sports an Index of Relative Socio-economic Advantage and Disadvantage (IRSAD) score of 1076 out of a possible 1217. This score forecasts a significant availability of economic resources and opportunities, alongside a high income bracket and a community brimming with skilled professions.

    With a renter to owner ratio sitting at a low 8%, Nerrina presents an enticing proposition for property investors. This low ratio translates that home ownership is more prevalent than renting, which reduces the competition among investors and potentially prolongs tenant tenancy periods.

    On close examination of the property composition, you’ll find the units to house ratio in Nerrina stands at 0%. This means all properties here are houses rather than units, and hence, the market is not oversaturated with units,which is generally considered favourable.

    Nerrina’s affordability index, also known as “Years to Own”, clocks in at 28 years. This demonstrates the potential for high affordability among the residents and is considered an attractive factor for the property market of the suburb.

    A look into the supply metrics reflects a stock on market Percentage of 0.48% for houses, which falls into the neutral range, indicating a balanced housing market. The inventory level for houses measures a scarce 1.6 months, showcasing a low supply market scenario – a favourable sign for prospective investors.

    In terms of new constructions, the building approvals Ratio for houses stands at a mere 0.24%, indicating a low future supply of residential properties – another favourable sign for investors.

    However, property market attention or demand in Nerrina seems a bit sluggish, with an average of 80 days on market (DoM) for houses, indicating slightly lower demand.

    Unfortunately, a high vacancy rate of 8.57% (including houses and units) suggests a scenario of low demand with potential rental competition. The buy search index being at 3 points towards a limited level of buyer demand.

    In conclusion, while certain metrics such as the high vacancy rate and limited buy search index may not be in the favourable range, majority of indicators suggest Nerrina to be a potential hub for property investment in Q3 2023. An investor should consider these along with the trend indicators for a comprehensive view of Nerrina’s property market. Total analysis of over 80 metrics is automated by the Relative Composite Score (RCS) developed by HtAG Analytics, aiding investors in making informed 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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