Get a property report and suburb profile for any property in Cranbourne South

Cranbourne South is a semi-rural outer suburb in Melbourne’s south-east that mixes open paddocks, hobby farms and newer residential estates, and it retains a countryside feel with tree-lined country roads, market garden plots and pockets of established housing. Housing ranges from acreage blocks to contemporary brick homes, local recreation centres on riding, bushland walks and informal reserves, and residents rely on nearby Cranbourne for shops, schools and train connections.

The community of 3,241 people has a median age of 35 and is strongly weighted towards families, with couple families with children making up just over half of households. About nine in ten homes are owner-occupied and relatively few are rented. The primary school has a capital works project, Project EMPOWER, with $5.9 million in capital funding for new STEAM spaces and upgraded facilities, there are local transport works planned, and the Royal Botanic Gardens Cranbourne borders the suburb to the north. Whether Cranbourne South suits you will come down to whether you want more space at the urban fringe while remaining close to town services.

In Cranbourne South the median house price of $885,000 works out to about 7.5 times a typical local annual household income at the last Census, which places buying well above what households earned then. By contrast, a house rent of $630 a week would take roughly 27.7% of a typical local household's weekly income at the last Census, a moderate share. On these figures, renting looks the less stretched option against local incomes, though whether that feels expensive depends on your own circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

The past 12 months in Cranbourne South saw house values rise a solid 9.3%. House rents rose only marginally, up 0.3% over the same period, so on these figures capital growth has been the stronger performer this year while rental income has changed very little. Whether that balance suits you will depend on your goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.