cranbourne north

3977, Victoria

Real Estate & Property Information

Median
Price Rank
428

cranbourne north Suburb Profile & Review

Cranbourne North 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. Lawson Poole Reserve is home to the local little athletics club and the local cricket club, as well as a playground and large grassy areas. You will find a chemist, a post office, a Woolworths supermaket and other retail shops atThompson Parkway Shopping Cente, while the Cranbourne Homemaker Centre on the boundary of the suburb houses a Harvey Norman, JB Hi Fi and Officeworks.

The suburb is home toLyndhurst Secondary College, Alkira Secondary College, St Theresa's Catholic Primary School and Courtenay Gardens 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's train ride from Merinda Park Station.

cranbourne north Demographic Data

$ 355,000 Median House Price

40 Minutes Average Commute

30 Median Age

14,570 Population

50.39 % Female

49.61 % Male

4015 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 north, Victoria.

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cranbourne north 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 north Median House Prices

  • 2008 $ 237,000
  • 2009 $ 265,000
  • 2010 $ 306,000
  • 2011 $ 350,000
  • 2012 $ 355,000

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 north 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 north 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 north property price predictions.

cranbourne north Market Property Types

  • 95 % Seperate House
  • 1 % Semi Detached
  • 4 % 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 north 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 north Income & Mortgage Stats

  • $ 1,355 Median Weekly Household Income
  • $ 1,810 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 north

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 north 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 north Sold Property Prices

cranbourne north 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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Where is The Property Market Heading?

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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

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cranbourne north Schools

  • Merinda Park Learning & Community Centre141-147 Endeavour Drivecranbourne north VIC 3977(03) 5996 9056Adult Multicultural Education Service
  • St. Thereses Primary School131 Endeavour Drcranbourne north VIC 3977(03) 5996 7525 Catholic Primary School
  • Courtenay Gardens Primary SchoolRosebank Drivecranbourne north VIC 3977(03) 5995 7139State Primary School

cranbourne north Childcare

  • ABC Learning Centre8 Elizabeth Streetcranbourne north VIC 3977
  • Cranbourne Kids Education Ctr78-80 Hoysted Avenuecranbourne north VIC 3977
  • Kidz R Kidz ELC30 Stirling Avenuecranbourne north VIC 3977

cranbourne north Kindergarten and Preschools

  • Kidz R Kidz ELC30 Stirling Avenuecranbourne north VIC 3977
  • Merinda Park Preschool149-153 Endeavour Drcranbourne north VIC 3977
  • Woodbine Road Preschool4 Woodbine Roadcranbourne north VIC 3977

cranbourne north Sporting Centres and Clubs

  • Cranbourne North Skate Parkcranbourne north VIC 3977Skate Park Facility

Find out How Much your House is Worth in cranbourne north

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