Murchison (postcode 3610) is a close-knit residential community in Victoria within the Greater Shepparton local government area. It is home to about 884 residents, with a mature demographic and a median age of 50. Households earn a median income of $50K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.6% 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, professionals, community & personal service. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are Australian, English, Irish.
The median house price in Murchison is $340,000, having dropped significantly by 24.4% over the past year. The current median weekly rent is $470. This gives a gross rental yield of approximately 7.2%. The median monthly mortgage repayment is $1,083.
Murchison is served by 1 school, including 1 primary. The average ICSEA score is 935, which is below the national average of 1,000. Public transport access includes 2 bus stops. The crime rate in the Greater Shepparton LGA is higher than average at 14,955 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 7.2% (high yield). Property prices sit below the state median ($340K/$875K), which can point to relative value. The price-to-income ratio of 6.9x is considered moderate. House prices have moved -24.4% year-on-year. Population growth of +0.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.