castlemaine

3450, Victoria

Real Estate & Property Information

Median
Price Rank
483

castlemaine Suburb Profile & Review

Nestled in a mountainous valley between Bendigo and Ballarat, you will find the regional town of Castlemaine. Once a gold-mining settlement, the area is now renowned for its thriving arts community. Celebrated authors, artists and actors are known to reside in the region.

Several of Castlemaine's historic buildings are a reminder of the town's wealthy history. The Theatre Royal, an elegant entertainment and cinema complex, attracts international performers and local movie premieres. Antique shops, fashion boutiques and cafes line the main streets. Stately heritage-listed gardens such as the Castlemaine Botanical Gardens feature in the yearly Festival of Gardens.

V/Line services travel to Southern Cross Station on the Bendigo train line, and express services during the week often arrive in Melbourne in sixty-five minutes. Bus services go to Chewton and Campbells Creek, while intercity services travel to Maldon and Bendigo.

castlemaine Demographic Data

$ 322,250 Median House Price

85 Minutes Average Commute

48 Median Age

6,751 Population

53.90 % Female

46.10 % Male

1751 NO OF FAMILIES

1.8 AVG CHILDREN PER FAMILY

0.9 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 castlemaine, Victoria.

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castlemaine 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.

castlemaine Median House Prices

  • 2008 $ 220,000
  • 2009 $ 248,500
  • 2010 $ 251,000
  • 2011 $ 298,000
  • 2012 $ 322,250

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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castlemaine 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 castlemaine 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 castlemaine property price predictions.

castlemaine Market Property Types

  • 89 % Seperate House
  • 3 % Semi Detached
  • 7 % Flat or Unit
  • 1 % 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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castlemaine 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.

castlemaine Income & Mortgage Stats

  • $ 776 Median Weekly Household Income
  • $ 1,216 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 castlemaine

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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castlemaine 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.

castlemaine Sold Property Prices

castlemaine 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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castlemaine Cafes

  • Jen's Place Cafe85 Mostyn Streetcastlemaine VIC 345003 5470 6777
  • Cured Cafe113 Mostyn Street castlemaine VIC 345003 54 705 000
  • Origini Cafe213 Barker St castlemaine VIC 345003 5472 1766

Find out How Much your House is Worth in castlemaine

Request a free market Basic Report for castlemaine to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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