cranbourne east

3977, Victoria

Real Estate & Property Information

Median
Price Rank
403

cranbourne east Suburb Profile & Review

Cranbourne East is a steadily growing suburb in Melbourne's south-east. Families are being drawn to the new housing estates cropping up on old farmland.

Racing is a lively industry in the area and the Cranbourne Racecourse and Recreation Reserve features training facilities for racehorses and greyhounds, as well as several sporting fields for football and cricket. The walking trails at the Royal Botanical Gardens will keep you busy for hours, whether you want to soak up the atmosphere of the bush or birdwatch from the lookout tower. The relatively new Casey RACE recreation aquatic centre is next door to the Casey Indoor Leisure Complex, and sports facilities are available in abundance at both. In the town centre, you will find over 100 well-known retail outlets at Centro Cranbourne.

The suburb is home to Casey Grammar School, a highly respected private school, and Cranbourne East Primary School. The Mornington Peninsula is a short drive away, while Cranbourne is the main stop-over point for holidaymakers on their way to Phillip Island, which is a little over an hour down the Bass Highway. Melbourne's city centre is an hour from Cranbourne Station.

cranbourne east Demographic Data

$ 370,000 Median House Price

44 Minutes Average Commute

31 Median Age

8,211 Population

52.22 % Female

47.78 % Male

2255 NO OF FAMILIES

1.9 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 cranbourne east, Victoria.

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cranbourne east 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.

cranbourne east Median House Prices

  • 2008 $ 277,657
  • 2009 $ 292,500
  • 2010 $ 328,000
  • 2011 $ 350,000
  • 2012 $ 370,000

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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cranbourne east 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 cranbourne east 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 cranbourne east property price predictions.

cranbourne east Market Property Types

  • 98 % Seperate House
  • 2 % Semi Detached
  • 1 % 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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cranbourne east 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.

cranbourne east Income & Mortgage Stats

  • $ 1,395 Median Weekly Household Income
  • $ 1,950 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 cranbourne east

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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cranbourne east 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.

cranbourne east Sold Property Prices

cranbourne east 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.

cranbourne east Related Local Blog Posts

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Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

cranbourne east Schools

  • Marnebek School9 New Holland Drivecranbourne east VIC 397703 5996 3858Specialist School
  • Casey Grammar School3 New Holland Drivecranbourne east VIC 3977(03) 5991 0800Private School

cranbourne east Childcare

  • Future Kids Child Care270 Narre Warren-Cranbourne Rdcranbourne east VIC 3977
  • Hunt Club Childrens Centre55-57 Broad Oak Drcranbourne east VIC 3977
  • Kids In Care CCC55-57 Broad Oak Drcranbourne east VIC 3977

cranbourne east Kindergarten and Preschools

  • Hunt Club Childrens Centre55-57 Broad Oak Drcranbourne east VIC 3977

cranbourne east Sporting Centres and Clubs

  • CV Premier Cricket Casey-South Melbournecranbourne east VIC 3977Cricket Club
  • Casey Chiefs Jnr RLCcranbourne east VIC 3977Football Club
  • Casey Scorpions FCcranbourne east VIC 3977Football Club

cranbourne east Retirement Villages

  • Blue Hills cranbourne east VIC 3977
  • Blue Hills Risecranbourne east VIC 3977
  • Hunters Greencranbourne east VIC 3977

Find out How Much your House is Worth in cranbourne east

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