Located in Victoria within the Ballarat local government area, Cardigan is a small locality (postcode 3352). The area has roughly 1,064 residents and a mix of young professionals and families, with a median age of 36. Households earn a median income of $141K per year, with an average household size of 3.4 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.7% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and construction. The top ancestries reported are Australian, English, Irish.
Median house prices in Cardigan stand at $243,000, having grown strongly by 7.8% over the last twelve months. The current median weekly rent is $420. This gives a gross rental yield of approximately 9.0%. The median monthly mortgage repayment is $2,167.
Public transport access includes 1 bus stop. The crime rate in the Ballarat LGA is higher than average at 11,695 incidents per 100,000 population.
From an investment perspective, Cardigan shows a gross rental yield of approximately 9.0%, rated as high yield. Property prices sit below the state median ($243K/$875K), which can point to relative value. The price-to-income ratio of 1.7x is considered affordable. House prices have moved +7.8% year-on-year. Population growth of +1.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.