cranbourne

3977, Victoria

Real Estate & Property Information

Median
Price Rank
476

cranbourne Suburb Profile & Review

Cranbourne 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 Cranbourne Homemaker Centre complex houses a Harvey Norman, JB Hi Fi, Officeworks, and many other specialty stores. In the town centre, you will find over 100 well-known retail outlets at Centro Cranbourne.

There are ten primary schools and four high schools in Cranbourne, including the highly regarded Casey Grammar 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 Demographic Data

$ 325,000 Median House Price

42 Minutes Average Commute

33 Median Age

18,622 Population

49.79 % Female

50.21 % Male

4981 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, Victoria.

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cranbourne 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 Median House Prices

  • 2008 $ 240,000
  • 2009 $ 265,000
  • 2010 $ 280,000
  • 2011 $ 327,500
  • 2012 $ 325,000

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 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 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 property price predictions.

cranbourne Market Property Types

  • 83 % Seperate House
  • 4 % Semi Detached
  • 13 % 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 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 Income & Mortgage Stats

  • $ 1,070 Median Weekly Household Income
  • $ 1,567 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

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 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 Sold Property Prices

cranbourne 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 Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

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 Restaurants

  • White Jasmine Thai Cuisine243 South Gippsland Highway cranbourne VIC 397703 5998 4099
  • Vue at Settlers Run1 Settlers Run Botanic Ridgecranbourne VIC 397703 9785 6072
  • The Red Baron Grill110 Sladen Stcranbourne VIC 397703 5996 8555

cranbourne Cafes

  • Gloria Jeansk11, Park Shopping Centre, High Streetcranbourne VIC 397703 5995 4477
  • Warp 10 Extreme Games6 High Stcranbourne VIC 397703 5996 6633
  • Hardware Bakehouse1205 Thompsons Roadcranbourne VIC 397703 5996 9800

cranbourne Schools

  • St. Agathas Primary School3 Scott Streetcranbourne VIC 3977(03) 5996 2724Catholic Primary School
  • Cranbourne Primary School42-58 Bakewell Streetcranbourne VIC 3977(03) 5996 1744State Primary School
  • Cranbourne Carlisle Primary School15 Silky Oak Avenuecranbourne VIC 3977(03) 59 91 3600State Primary School

cranbourne Childcare

  • Biala South East Child CareCnr Willora & Duff Stscranbourne VIC 3977
  • Clarendon St Community CCC43A Clarendon Stcranbourne VIC 3977
  • Sunkids Childrens CentreWalter Stcranbourne VIC 3977

cranbourne Kindergarten and Preschools

  • Bowen Street Preschool20-22 Bowen Streetcranbourne VIC 3977
  • Carlisle Park Childrens CtrMajestic Bvdcranbourne VIC 3977
  • Clarendon Street Preschool43A Clarendon Streetcranbourne VIC 3977

cranbourne Sporting Centres and Clubs

  • Lawson Poole Reservecranbourne VIC 3977Athletics Club
  • Little Athletics Centres, Lawson Poole Reservecranbourne VIC 3977Athletics Club
  • Cranbournecranbourne VIC 3977Skate Park Facility

Find out How Much your House is Worth in cranbourne

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