Carrum is a smaller suburb in Victoria within the Kingston (Vic.) local government area (postcode 3197). With a population of 4,239, the suburb has an established demographic with a median age of 40. Households earn a median income of $90K per year, with an average household size of 2.3 people. The most common occupations are professionals, technicians & trades, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Carrum is $1.0 million, having risen modestly 1% over the past year. Units have a median price of $763,000 (+4.5% YoY). The current median weekly rent is $560. This gives a gross rental yield of approximately 2.8%. The median monthly mortgage repayment is $2,069.
Carrum is served by 1 school, including 1 primary. The average ICSEA score is 1075, which is above the national average of 1,000. Public transport access includes 6 rail stations, 22 bus stops. The crime rate in the Kingston (Vic.) LGA is moderate at 7,320 incidents per 100,000 population.
From an investment perspective, Carrum offers a gross rental yield of 2.8%, rated as low yield. Property prices are near the state median ($1.0M/$875K). The price-to-income ratio of 11.5x is considered stretched. House prices have moved +1.0% year-on-year.
Carrum is a smaller suburb in Victoria within the Kingston (Vic.) local government area (postcode 3197). With a population of 4,239, the suburb has an established demographic with a median age of 40. Households earn a median income of $90K per year, with an average household size of 2.3 people. The most common occupations are professionals, technicians & trades, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Carrum is $1.0 million, having risen modestly 1% over the past year. Units have a median price of $763,000 (+4.5% YoY). The current median weekly rent is $560. This gives a gross rental yield of approximately 2.8%. The median monthly mortgage repayment is $2,069.
Carrum is served by 1 school, including 1 primary. The average ICSEA score is 1075, which is above the national average of 1,000. Public transport access includes 6 rail stations, 22 bus stops. The crime rate in the Kingston (Vic.) LGA is moderate at 7,320 incidents per 100,000 population.
From an investment perspective, Carrum offers a gross rental yield of 2.8%, rated as low yield. Property prices are near the state median ($1.0M/$875K). The price-to-income ratio of 11.5x is considered stretched. House prices have moved +1.0% year-on-year.