Carrum Downs suburb profile
Carrum Downs is a rapidly growing suburb located in Melbourne's southeast, approximately 36km from the CBD. Known for its family-friendly atmosphere, it offers a mix of residential developments, parks, and recreational facilities. The suburb is well-serviced by local amenities, including shopping centers, schools, and healthcare services, making it an attractive option for families and professionals. Carrum Downs enjoys easy access to major transport routes such as the EastLink and Peninsula Link, providing convenient connectivity to the city and the Mornington Peninsula. Its blend of suburban tranquility and modern conveniences continues to draw new residents and investors.
Carrum Downs property market performance
Carrum Downs has experienced modest growth in its property market over the past 12 months. House values have increased by 1.4%, with the current median house price at $702,000. Meanwhile, unit values have seen a more significant rise of 5.4%, bringing the median unit price to $560,000. This indicates a growing interest in units within the suburb.
Sales activity has been robust, with 79 houses and 27 units sold over the last 12 months. Both houses and units are selling quickly, with a median of just 14 days on the market, reflecting strong demand and buyer interest in the area.
The rental market in Carrum Downs has also shown positive trends, with average rents for houses increasing by 8.6% and units by 8.3% over the past year. This suggests a healthy demand for rental properties in the suburb.
Median price - houses$702KPast 3 months
Median price - units$560KPast 3 months
Change in value - houses1.4%12 months
Change in value - units5.4%12 months
Houses sold79Past 3 months
Units sold27Past 3 months
Median DOM - houses14Past 12 months
Median DOM - units14.5Past 12 months
Average rent - houses$570Past 12 months
Average rent - units$520Past 12 months
Change in rent - houses8.6%Past 12 months
Change in rent - units8.3%Past 12 months
Carrum Downs demographics
Carrum Downs, located in Melbourne's southeastern suburbs, is a family-friendly area known for its community-oriented lifestyle and accessibility to both urban and coastal attractions. With a population of 21,976 and a median age of 36, the suburb is home to a mix of young families, professionals, and long-term residents. The median total household income of $1,658 per week reflects a comfortable standard of living, appealing to those seeking a balance between affordability and quality of life.
The suburb's housing landscape is characterized by a high rate of home ownership, with 49% of properties owned with a mortgage and 22.9% owned outright. This indicates a stable community with a significant proportion of residents investing in their homes. Rental properties make up 28.1% of the housing market, providing options for those who prefer flexibility or are new to the area.
Family dynamics in Carrum Downs are diverse, with 43.6% of households being couple families with children, and 32.8% being couple families without children. One-parent families account for 21.9% of the community, highlighting the suburb's inclusive nature. The presence of various family structures contributes to a supportive and vibrant community atmosphere, making Carrum Downs an attractive choice for families and individuals alike.
Carrum Downs infrastructure, key developments and investment opportunities
Carrum Downs is experiencing ongoing growth and development that could positively influence its property market. The suburb has seen the recent completion of several new housing estates, increasing housing supply and attracting new residents. The Carrum Downs Shopping Centre continues to expand, with new retail and dining options enhancing local amenities and potentially boosting property values in the surrounding area.
Infrastructure improvements include upgrades to local parks and reserves, such as new playground equipment and sports facilities at Banyan Reserve and Sandfield Reserve. These enhancements contribute to the suburb's livability and family-friendly appeal. Additionally, ongoing road upgrades along Frankston-Dandenong Road aim to improve connectivity and reduce traffic congestion, which could make Carrum Downs more attractive to commuters and increase demand for properties in the area.
Carrum Downs rental market trends
The rental market in Carrum Downs has experienced steady growth, with house rents increasing by 8.6% over the past year to $570 per week, while unit rents have risen by 8.3% to $520 per week. This consistent upward trend reflects the suburb's appeal, driven by its family-friendly environment and proximity to essential amenities, making it an attractive option for both renters and investors.
Suburbs near Carrum Downs
Some popular suburbs near Carrum Downs include: