mernda

3754, Victoria

Real Estate & Property Information

Median
Price Rank
355

mernda Suburb Profile & Review

Mernda residents experience the best of both worlds - they can enjoy picturesque scenery and total seclusion, but bustling commercial centres such as Westfield Plenty Valley are only ten minutes away.

A relatively new area featuring modern estates and landscaped parks, Mernda is home to a mix of middle-aged couples and new families, and is steadily growing in size. Forty minutes from the inner city, it already has its own Coles supermarket, childcare facilities and a medical clinic. The Laurimar Town Shopping Centre in nearby Doreen provides an additional twenty-two specialty stores. Respected institution Acacia College has a campus in Mernda, and Ivanhoe Grammar School's Plenty Campus is just two minutes down Bridge Inn Road.

Major plans for the area include the development of the Mernda Regional Recreation Reserve, which will see the construction of a first-class aquatic and fitness centre, sports grounds, tennis courts, walking tracks and playgrounds. Mernda residents currently enjoy Schotters Park for walking and bike riding, while nearby Plenty Gorge Park offers ample space for camping, walking and bird watching.

mernda Demographic Data

$ 400,000 Median House Price

41 Minutes Average Commute

29 Median Age

6,508 Population

50.66 % Female

49.34 % Male

1880 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 mernda, Victoria.

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mernda 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.

mernda Median House Prices

  • 2008 $ 335,000
  • 2009 $ 323,250
  • 2010 $ 347,950
  • 2011 $ 389,900
  • 2012 $ 400,000

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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mernda 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 mernda 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 mernda property price predictions.

mernda Market Property Types

  • 95 % Seperate House
  • 5 % 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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mernda 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.

mernda Income & Mortgage Stats

  • $ 1,597 Median Weekly Household Income
  • $ 2,167 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 mernda

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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mernda 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.

mernda Sold Property Prices

mernda 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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mernda Restaurants

  • Two Beans And A Farm10 Hathfelde Blvd mernda VIC 375403 9717 0978
  • Jessie's Pizza4/59 Mernda Village Drivemernda VIC 375403 9717 9904

mernda Cafes

  • Eden Valley Cafe1435 Plenty Roadmernda VIC 375403 9717 3201
  • Glen Cafe MerndaMernda Villages Drivemernda VIC 375403 9717 1800
  • Mernda Bakery Cafe107 Schotters Roadmernda VIC 375403 9717 5834

mernda Schools

  • St. Josephs Primary School44 Mernda Village Drivemernda VIC 3754(03) 9717 6480Catholic Primary School
  • Acacia College P-12370 Bridge Inn Roadmernda VIC 3754(03) 9717 7300Private School
  • Mernda Primary School25 Everton Drivemernda VIC 3754(03) 9717 7900State Primary School

mernda Kindergarten and Preschools

  • Mernda Villages Kindergarten70 Mernda Village Drmernda VIC 3754

mernda Sporting Centres and Clubs

  • Findon Pony Clubmernda VIC 3754Horse Riding Club
  • Merndamernda VIC 3754Tennis Club & Courts

Find out How Much your House is Worth in mernda

Request a free market Basic Report for mernda 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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