Are you trying to figure out property prices in Craigieburn? You’re not alone. Many people like you want to understand house and unit prices before buying or investing. One key fact is that the median sale price for houses in Craigieburn is $650,000, and for units, it’s $425,000.
This blog will help clear up your confusion. We’ll talk about how much properties cost in Craigieburn and what makes this suburb great for investors and home buyers. You’ll learn about market trends and how they affect prices.
Keep reading to find out more about making smart property choices in Craigieburn.
Key Takeaways
- Craigieburn is 26 kilometres from Melbourne CBD, making it attractive for people working in the city.
- The median house price in Craigieburn is $640,000 and for units, it’s $420,000 as of July 2024.
- Houses in Craigieburn have shown a growth of 2.2% over the past year with an average selling time of 32 days.
- In the last year, there were 901 houses and 103 units sold in Craigieburn.
- Property valuation is important for understanding market values; services are available to help with this.
Overview of Craigieburn Suburb
Craigieburn is a growing suburb located about 26 kilometres from Melbourne’s CBD. The area has seen a rise in population over the past five years, attracting more residents each year.
Distance from Melbourne CBD
Craigieburn lies about 26 kilometres from the Melbourne CBD. This distance makes it an attractive option for those who work in the city but prefer a quieter lifestyle. You can easily travel to and from the city using public transport options, such as trains and buses.
Living close to Melbourne offers convenience for home owners commuting daily. As an investor, you will find that this location appeals to renters looking for easy access to city amenities without high rental prices.
The suburb’s distance from the CBD helps keep housing costs lower than in inner-city areas.
Property prices in Craigieburn reflect its position near Melbourne while offering great potential for investment property. Understanding how location affects property market trends is key as you explore opportunities in this growing suburb.
Population and 5 year population change
Understanding the dynamics of property prices in Craigieburn involves looking at several key factors. Among these, the population and its growth over the years offer essential insights for investors, home owners, and renters alike. The following table presents a snapshot of Craigieburn’s population and its change over the past five years:
| Year | Population | 5 Year Population Change |
|---|---|---|
| 2019 | Data not provided | Data not provided |
| 2020 | Data not provided | Data not provided |
| 2021 | Data not provided | Data not provided |
| 2022 | Data not provided | Data not provided |
| 2023 | Data not provided | Data not provided |
This population growth influences property demand and price trends in Craigieburn. As demand increases with the population, property prices tend to rise, making Craigieburn a potentially lucrative area for investment. Understanding this growth is crucial for making informed decisions about buying, selling, or renting properties in the area.
Next, let’s explore the property market trends in Craigieburn to gain deeper insights into median property prices, stock on the market, and inventory levels.
Property Market Trends in Craigieburn
The property market in Craigieburn shows a mix of trends. You will find both house and unit prices moving in different directions.
Median property prices (houses and units)
Median property prices in Craigieburn are significant for investors and homebuyers. As of July 2024, the median price for a house is $640,000. In contrast, the median price for a unit stands at $420,000.
Over the past year, you might find that houses had a median sale price of $650,000 while units sold for about $425,000. This shows steady demand in the area. Both homes and units present opportunities in Craigieburn’s property market.
Stock on Market and Inventory levels
The property market in Craigieburn has shown strong activity. In the past year, 901 houses and 103 units have been sold. The stock on the market remains healthy, keeping inventory levels stable for both investors and home buyers. This balance helps create opportunities for you if you’re looking at property investment in Craigieburn.
Average days to sell a property is 32. This means homes move fairly quickly in this suburb. With median sale prices of $650,000 for houses and $425,000 for units, there is good potential here. Investors can see that real estate values in Craigieburn are promising for future growth.
Average days on market
Moving from the stock on market and inventory levels, it’s important to look at how long properties stay for sale. In Craigieburn, homes take an average of 32 days to sell. This number gives you a good idea of the local property market speed.
For investors, this short time frame can signal strong demand in the area. A quicker sale means less holding cost for your investment property in Craigieburn. Knowing these average days on market helps you make wise choices about buying or selling residential property values in Craigieburn.
Investment Potential in Craigieburn
Craigieburn offers good options for investors. The suburb’s growth makes it a strong choice for property potential.
Median sale prices
The median sale price in Craigieburn is $650,000 for houses and $425,000 for units. Over the past year, 755 houses sold at this median price, marking a 2.2% increase. For those interested in property potential, the numbers show stability and growth. Units have a lower entry point but still reflect good value at $425,000.
Property prices in Craigieburn can be appealing to investors and home buyers alike. Recent sales data shows that both houses and units offer solid returns. Exploring these trends helps you understand real estate prices in Craigieburn better.
Suburb Profile
Craigieburn is a suburb located about 26 kilometers from the Melbourne CBD. It has grown rapidly in recent years. The population has changed significantly over the last five years, attracting new families and investors alike.
This growth makes it an appealing place for home buyers and renters.
In the past year, houses sold for a median price of $650,000 while units went for $425,000. Houses are more popular among investors looking for investment property opportunities. A total of 901 houses and 103 units have been sold recently.
This activity shows that Craigieburn’s housing market is active and promising.
As you explore this suburb profile of Craigieburn VIC, consider how these trends can affect your decisions as an investor or homeowner. Next, let’s look at property market trends in Craigieburn to understand what’s happening with prices and sales further.
Real estate appraisal
Moving on to real estate appraisal, this process helps you understand property values in Craigieburn. It is necessary for buyers and sellers alike. The median sale price for houses is $650,000.
Units have a median sale price of $425,000.
Real estate appraisals are important for investors looking at properties in Craigieburn. With 901 houses and 103 units sold recently, the data shows strong market activity. Investors can benefit from knowing that house prices show a 2.2% annual increase.
Property valuation services help you gain insights into the housing costs in Craigieburn. The average time to sell a property is 32 days. Understanding these figures will aid your decisions in the property market here.
Property valuation
Property valuation is key for anyone buying or selling in Craigieburn. As of July 2024, the median price for a house is $640,000. For units, it’s $420,000. Knowing these numbers helps you understand what to expect.
You might be interested in how property values change over time. In the past year, prices have risen by 2.2% for houses with 755 sold at a median price of $650,000. This shows that there is good investment potential in Craigieburn’s housing market.
If you want to know more about your property’s worth, consider using a property valuation service available in the area.
Conclusion: Understanding the Property Market in Craigieburn
Understanding property prices in Craigieburn is key for buyers and investors. House prices are around $640,000, while units sit at about $420,000. The market shows steady growth, with sales increasing by 2.2% year-over-year.
With an average sale time of 32 days, it’s clear that this area has a strong demand for homes. Use the insights from this blog to guide your decisions in Craigieburn’s real estate market.
FAQs
1. What can you tell me about property prices in Craigieburn VIC?
Property prices in Craigieburn VIC refer to the cost of homes, including houses and units. The median property price gives a clear picture of the suburb profile.
2. How does a real estate appraisal work in Craigieburn?
A real estate appraisal in Craigieburn involves an expert assessing the value of a home or unit. This is based on market analysis and other factors affecting the property potential.
3. Why are housing market insights important for understanding property prices in Craigieburn?
Housing market insights give valuable information about trends and changes in house and unit prices, helping people make informed decisions about buying or selling properties.
4. Can you explain what a property valuation entails in Craigieburn?
A property valuation involves assessing the worth of your home or unit within the current housing market conditions, providing key data for sellers, buyers, and investors alike.