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Craigieburn suburb profile

Craigieburn is a rapidly growing suburb located approximately 25km north of Melbourne's CBD, known for its family-friendly environment and diverse community. With a mix of modern housing developments and established homes, Craigieburn offers a variety of living options to suit different lifestyles. The suburb boasts a range of amenities, including shopping centres, schools, and recreational facilities, making it an attractive choice for families and young professionals. Craigieburn's excellent transport links, including train services and major roadways, provide convenient access to the city and surrounding areas. Its blend of urban convenience and suburban tranquility continues to draw new residents and investors.

Craigieburn property market performance

Craigieburn's property market has shown modest growth over the past 12 months. House values have increased by 1.6%, with the median house price reaching $660,000, while unit values have risen by 3.1%, bringing the median unit price to $433,000. This indicates a steady demand for both property types in the area.

Sales activity has been robust, with 224 houses and 45 units sold over the past 12 months. Both houses and units have a median time on market of 38 days, suggesting a balanced demand across the property types.

The rental market in Craigieburn has experienced significant growth, with house rents increasing by 14.6% and unit rents by 9.5% over the last 12 months. The average rent for houses is now $550, while units average $460, reflecting strong rental demand in the suburb.

Median price - houses$660KPast 3 months

Median price - units$420KPast 3 months

Change in value - houses1.6%12 months

Change in value - units-0.4%12 months

Houses sold239Past 3 months

Units sold34Past 3 months

Median DOM - houses39Past 12 months

Median DOM - units36Past 12 months

Average rent - houses$550Past 12 months

Average rent - units$460Past 12 months

Change in rent - houses12.2%Past 12 months

Change in rent - units7.0%Past 12 months

Craigieburn demographics

Craigieburn, located in Melbourne's northern suburbs, is a rapidly growing area known for its family-friendly environment and modern amenities. With a population of 65,178 and a median age of 32, it is a youthful suburb that attracts young families and professionals seeking a balanced lifestyle. The suburb's proximity to Melbourne's CBD, along with its expanding infrastructure, makes it an appealing choice for those looking to settle in a community that offers both convenience and a sense of space.

The housing landscape in Craigieburn is predominantly owner-occupied, with 55.2% of properties owned with a mortgage, reflecting the suburb's appeal to first-time homebuyers and growing families. Additionally, 15.5% of homes are owned outright, while 29.2% are rented, indicating a stable yet flexible housing market. The high percentage of couple families with children, at 61.6%, underscores Craigieburn's reputation as a family-oriented suburb, supported by its numerous parks, schools, and recreational facilities.

Craigieburn's community is diverse, with a mix of cultural backgrounds contributing to its vibrant atmosphere. The suburb's median total household income of $1,798 per week reflects a comfortable standard of living, with many residents employed in various sectors across Melbourne. As Craigieburn continues to develop, it remains an attractive destination for those seeking a suburban lifestyle with easy access to urban opportunities.

Craigieburn infrastructure, key developments and investment opportunities

Craigieburn is experiencing significant growth and development that is likely to impact its property market. The suburb is undergoing several major residential developments, including Highlands Craigieburn by Stockland, which is the largest project in the area. Other notable estates by developers such as Delfin, Peet Limited (Aston), Evolve Development (Annadale), and Villawood (Trilium) are also contributing to the expansion of housing options in Craigieburn.

Infrastructure improvements are keeping pace with population growth. The completion of Craigieburn Central, a new four-tier shopping centre, has enhanced local amenities and retail options. Additionally, the suburb has seen the establishment of several new schools, including Elevation Secondary College and Oscar Romero Catholic Primary School, which are likely to attract families to the area. The electrification of the Craigieburn railway line and improved bus services have significantly enhanced public transport connectivity, potentially increasing the suburb's appeal to commuters and boosting property values.

Craigieburn rental market trends

The rental market in Craigieburn has experienced significant growth, with house rents increasing 14.6% over the past year to $550 per week, while unit rents have risen 9.5% to $460 per week. With its expanding infrastructure and growing community, Craigieburn continues to attract both renters and investors seeking promising returns in a vibrant suburban setting.

Suburbs near Craigieburn

Some popular suburbs near Craigieburn include:

  • Mickleham: Known for its rapidly developing residential estates and open spaces, Mickleham is located directly north of Craigieburn.
  • Wollert: Featuring a mix of new housing developments and rural landscapes, Wollert is situated to the east of Craigieburn.
  • Kalkallo: Known for its emerging residential communities and proximity to major transport routes, Kalkallo lies to the north of Craigieburn.
  • Epping: Offering a blend of residential, commercial, and industrial areas with excellent amenities, Epping is located to the southeast of Craigieburn.
  • Lalor: Known for its multicultural community and established residential areas, Lalor is situated to the south of Craigieburn.

Common questions about Craigieburn

  • Is Craigieburn a nice place to live?

    Craigieburn is a delightful suburb that offers a harmonious blend of suburban tranquility and urban convenience, making it a fantastic place to call home. Known for its welcoming and diverse community, Craigieburn provides a vibrant atmosphere that appeals to families and individuals alike. The suburb is well-equipped with a variety of amenities, including shopping centres, cafes, and recreational facilities, ensuring that residents have everything they need within easy reach. Its proximity to Melbourne's CBD, coupled with excellent transport links, makes commuting a breeze for those who work in the city.

    Families will find Craigieburn particularly appealing due to its abundance of parks and green spaces, which offer plenty of opportunities for outdoor activities and family outings. The suburb's strong sense of community and family-friendly vibe are complemented by a range of educational institutions, making it an ideal location for raising children. Safety is generally not a major concern, contributing to the overall peace of mind for residents.

    However, living in Craigieburn does come with some trade-offs. As a rapidly growing suburb, it can experience some congestion during peak hours, and the ongoing development may lead to temporary disruptions. Additionally, while the suburb offers a variety of amenities, those seeking a bustling nightlife or trendy dining options might find themselves venturing into the city more often. Despite these minor drawbacks, Craigieburn remains an attractive choice for those seeking a balanced lifestyle with the benefits of both suburban living and urban access.

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  • Is it expensive to live in Craigieburn?

    Living in Craigieburn can be considered relatively affordable when compared to other suburbs in Melbourne. The current median house price is $660,000, which is quite reasonable compared to Melbourne's overall median house price. For those interested in units, the median price is even lower at $433,000. Renting is also fairly accessible, with houses averaging $550 per week and units at $460 per week.

    The average annual wage in Craigieburn is around $93,000, which is slightly above the average wage in Victoria. This means that, generally, residents may find it easier to manage the cost of living in this suburb compared to those in more expensive areas. The median total household income weekly is $1,798, which aligns well with the property prices and rental costs, making it a financially viable option for many.

    Overall, Craigieburn offers a balance of affordability and lifestyle, making it an attractive choice for those looking to live within a reasonable commuting distance to Melbourne's city center. If you're thinking of living in Craigieburn, it's worth considering the financial advantages it offers compared to other Melbourne suburbs.

    Disclaimer: To assess whether a suburb is considered expensive, we’ve looked at mortgage and rental costs as a proportion of the average local salary. That said, everyone’s financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
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  • Is Craigieburn a good place to invest?

    Craigieburn is showing promising signs as a solid investment suburb, particularly for those interested in rental income. Over the past year, the suburb has experienced a modest increase in median house values by 1.6% and a more notable rise in unit values by 3.1%. While these figures indicate steady growth, the real standout is the significant increase in rental yields. House rents have surged by 14.6%, and unit rents have climbed by 9.5%, suggesting strong demand from tenants.

    This rental demand could be attributed to Craigieburn's appeal to families and young professionals seeking affordable living options within commuting distance to Melbourne's CBD. The suburb offers a mix of modern amenities, schools, and parks, making it an attractive place to live. For investors, this means a reliable stream of rental income and the potential for future capital growth as the area continues to develop.

    Overall, Craigieburn presents a balanced investment opportunity. While the capital growth in property values has been moderate, the robust rental market provides a compelling case for those looking to invest in rental properties. With its growing community and ongoing development, Craigieburn is well-positioned to offer steady returns for investors in the long run.

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