somerville

3912, Victoria

Real Estate & Property Information

Median
Price Rank
387

somerville Suburb Profile & Review

Somerville can be found fifteen minutes south-west of Frankston. The suburb extends all the way out to Western Port Bay, where the Yaringa Marina on Lumeah Road provides access to the water for boats. Beautiful Port Phillip Bay beaches are also only twenty minutes away.

Historically an apple orchid region, Somerville has transformed into a residential town due to the development of a Centro shopping centre. Many specialty stores and major retailers are found in this commercial centre, which is split by the railway line. Somerville Station is on the Stony Point Line, a continuation of the Frankston line, and from here you can gain access to the greater Melbourne area. A bus service to Frankston is also available.

Somerville has three primary schools and one secondary school. However, there are many other schools in the greater area, including the Peninsula School and Toorak College, both in Mount Eliza.

somerville Demographic Data

$ 378,250 Median House Price

49 Minutes Average Commute

38 Median Age

10,730 Population

51.41 % Female

48.59 % Male

2963 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 somerville, Victoria.

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somerville 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.

somerville Median House Prices

  • 2008 $ 275,000
  • 2009 $ 309,500
  • 2010 $ 330,000
  • 2011 $ 375,000
  • 2012 $ 378,250

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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somerville 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 somerville 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 somerville property price predictions.

somerville Market Property Types

  • 84 % Seperate House
  • 9 % Semi Detached
  • 5 % 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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somerville 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.

somerville Income & Mortgage Stats

  • $ 1,287 Median Weekly Household Income
  • $ 1,606 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 somerville

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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somerville 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.

somerville Sold Property Prices

somerville 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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somerville Restaurants

  • Tulsi74 Station St somerville VIC 391203 5977 6733
  • Yaringa Marina Restaurant1 Lumeah Roadsomerville VIC 391203 5977 3735
  • Somerville Thai49 Eramosa Rd W, Shop 11 Centro Somerville Shopping Centre somerville VIC 391203 5977 8388

somerville Cafes

  • Geo's Coffee Bar17 Bank Stsomerville VIC 391203 5977 6698
  • VesbarShop 3, 80 Station Stsomerville VIC 391203 5978 0493
  • Kafe @ Koula's13 Eramosa Rdsomerville VIC 391203 5977 5255

somerville Schools

  • St. Brendans Primary School19 Austin Roadsomerville VIC 3912(03) 5977 7277Catholic Primary School
  • Somerville Primary SchoolEramosa Rdsomerville VIC 3912(03) 5977 5421State Primary School
  • Somerville Rise Primary SchoolBlacks Camp Roadsomerville VIC 3912(03) 5977 8500State Primary School

somerville Childcare

  • Annie Sage Child Care21 Blacks Camp Roadsomerville VIC 3912
  • Wagtail Cottage CC & ELC1140 Frankston-Flinders Rdsomerville VIC 3912

somerville Kindergarten and Preschools

  • Blackscamp Preschool21 Blacks Camp Roadsomerville VIC 3912
  • Somerville Preschool1097 F'ston-Flinders Rdsomerville VIC 3912
  • Wagtail Cottage CC & ELC1140 F'ton-Flinders Rdsomerville VIC 3912

somerville Sporting Centres and Clubs

  • Somervillesomerville VIC 3912Bowling Club
  • Baxter Indoor Leisure Centresomerville VIC 3912Netball Club
  • Bembridgesomerville VIC 3912Golf Course

somerville Retirement Villages

  • St. Johnssomerville VIC 3912

Find out How Much your House is Worth in somerville

Request a free market Basic Report for somerville 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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