cannons creek

3977, Victoria

Real Estate & Property Information

Median
Price Rank
525

cannons creek Suburb Profile & Review

Cannons Creek is a sleepy fishing village located between Warneet and Blind Bight on Rutherford Inlet. The Cannons Creek Foreshore Reserve is characterised by white mangroves and swamp paperbacks, which shelter beautiful native birds. Bird watching, fishing and bushwalking are all popular activities due to the area's picturesque qualities.

The village is a twenty minute drive away from Cranbourne, where residents can send their children to schools such as Cranbourne Secondary College and Cranbourne Primary School Trains travel regularly to Flinders Street Station from Cranbourne Station. The South Gippsland Highway to the town's north-east eventually connects with the Monash Freeway and the Princes Highway, and as a result, driving to Melbourne's city centre only takes about an hour.

There are few shops in the town itself, though the Cannons Creek General Store is convenient for takeaway food and everyday groceries. The town's permanent population settled during the 1960s and 1970s and scarcely exceeds 500 people, allowing residents to enjoy a serene and secluded coastal lifestyle.

cannons creek Demographic Data

$ 290,000 Median House Price

55 Minutes Average Commute

40 Median Age

557 Population

48.29 % Female

51.71 % Male

161 NO OF FAMILIES

1.9 AVG CHILDREN PER FAMILY

0.0 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in cannons creek, Victoria.

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cannons creek Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

cannons creek Median House Prices

  • 2008 $ 228,250
  • 2009 $ 230,000
  • 2010 $ 270,000
  • 2011 $ 301,000
  • 2012 $ 290,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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cannons creek 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in cannons creek have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term cannons creek property price predictions.

cannons creek Market Property Types

  • 100 % Seperate House
  • 0 % Semi Detached
  • 0 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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cannons creek Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

cannons creek Income & Mortgage Stats

  • $ 1,500 Median Weekly Household Income
  • $ 250 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in cannons creek

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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cannons creek Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

cannons creek Sold Property Prices

cannons creek Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

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