McCrae is a smaller suburb in Victoria within the Mornington Peninsula local government area (postcode 3938). With a population of 3,311, the suburb has an older demographic with a median age of 55. Households earn a median income of $75K per year, with an average household size of 2.3 people. The most common occupations are professionals, technicians & trades, managers. The top ancestries reported are English, Australian, Irish.
The median house price in McCrae is $1.3 million, having dipped slightly 1.9% over the past year. Units have a median price of $830,000 (-7.3% YoY). The median weekly rent is $392 (Census 2021). This gives a gross rental yield of approximately 1.6%. The median monthly mortgage repayment is $2,000.
Public transport access includes 10 bus stops. The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
From an investment perspective, McCrae offers a gross rental yield of 1.6%, rated as low yield. Property prices are above the state median ($1.3M/$875K), placing it in the premium segment. The price-to-income ratio of 17.4x is considered stretched. House prices have moved -1.9% year-on-year.
McCrae is a smaller suburb in Victoria within the Mornington Peninsula local government area (postcode 3938). With a population of 3,311, the suburb has an older demographic with a median age of 55. Households earn a median income of $75K per year, with an average household size of 2.3 people. The most common occupations are professionals, technicians & trades, managers. The top ancestries reported are English, Australian, Irish.
The median house price in McCrae is $1.3 million, having dipped slightly 1.9% over the past year. Units have a median price of $830,000 (-7.3% YoY). The median weekly rent is $392 (Census 2021). This gives a gross rental yield of approximately 1.6%. The median monthly mortgage repayment is $2,000.
Public transport access includes 10 bus stops. The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
From an investment perspective, McCrae offers a gross rental yield of 1.6%, rated as low yield. Property prices are above the state median ($1.3M/$875K), placing it in the premium segment. The price-to-income ratio of 17.4x is considered stretched. House prices have moved -1.9% year-on-year.