Kurunjang (postcode 3337) is a settled mid-to-large suburb in Victoria within the Melton local government area. It is home to about 10,711 residents, with a mix of families and early-career residents and a median age of 34. Households earn a median income of $81K per year, with an average household size of 2.8 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +5.8% 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 technicians & trades, clerical & administrative, machinery operators & drivers. Employment in the area leans toward construction and transport & logistics. The top ancestries reported are Australian, English, Maltese.
Kurunjang has a median house price of $538,000, which has moved higher by 3.5% year-on-year. Units have a median price of $410,000 (-0.6% YoY). The current median weekly rent is $480. This gives a gross rental yield of approximately 4.6%. The median monthly mortgage repayment is $1,517.
Public transport access includes 37 bus stops. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
On the investment side, Kurunjang shows a gross rental yield of approximately 4.6%, rated as moderate yield. Property prices sit below the state median ($538K/$875K), which can point to relative value. The price-to-income ratio of 6.7x is considered moderate. House prices have moved +3.5% year-on-year. Population growth of +5.8% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.