Caroline Springs is a large suburb in Victoria within the Melton local government area (postcode 3023). With a population of 24,488, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $111K per year, with an average household size of 3.1 people. The most common occupations are professionals, clerical & administrative, managers. The top ancestries reported are Australian, English, Indian.
The median house price in Caroline Springs is $744,000, having risen modestly 1.7% over the past year. Units have a median price of $506,000 (+5% YoY). The current median weekly rent is $470. This gives a gross rental yield of approximately 3.3%. The median monthly mortgage repayment is $1,950.
Caroline Springs is served by 8 schools, including 3 primary, 2 secondary, 3 combined. The average ICSEA score is 1043, which is around the national average of 1,000. Public transport access includes 87 bus stops. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Caroline Springs offers a gross rental yield of 3.3%, rated as moderate yield. Property prices are near the state median ($744K/$875K). The price-to-income ratio of 6.7x is considered moderate. House prices have moved +1.7% year-on-year.
Caroline Springs is a large suburb in Victoria within the Melton local government area (postcode 3023). With a population of 24,488, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $111K per year, with an average household size of 3.1 people. The most common occupations are professionals, clerical & administrative, managers. The top ancestries reported are Australian, English, Indian.
The median house price in Caroline Springs is $744,000, having risen modestly 1.7% over the past year. Units have a median price of $506,000 (+5% YoY). The current median weekly rent is $470. This gives a gross rental yield of approximately 3.3%. The median monthly mortgage repayment is $1,950.
Caroline Springs is served by 8 schools, including 3 primary, 2 secondary, 3 combined. The average ICSEA score is 1043, which is around the national average of 1,000. Public transport access includes 87 bus stops. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Caroline Springs offers a gross rental yield of 3.3%, rated as moderate yield. Property prices are near the state median ($744K/$875K). The price-to-income ratio of 6.7x is considered moderate. House prices have moved +1.7% year-on-year.