Why Craigieburn is a Great Place to Invest in Real Estate: Top 5 Reasons

Looking for a smart place to invest your money? Real estate in Craigieburn might be the answer. It’s no secret that finding the right spot for property investment can be tricky. Craigieburn, located in Victoria’s Hume Region, offers something special.

With about 50,347 people calling it home and houses listed at a median price of $630,000, this suburb is buzzing. Our blog will guide you through why investing here could be a savvy move.

From high rental yields to continuous development—you’ll get all the insights.

Ready to explore? Keep reading.

Key Takeaways

Craigieburn in Victoria, Australia, has a strong real estate market with houses listed at about $630,000.
The suburb shows great capital growth of around 7.2% per year over the last 20 years. With its population tripling in 17 years, demand for homes is high.
Rental yields are attractive here. Houses have a median rent of $500 per week, giving a yield of 4.12%. Units have higher yields of up to 5.45%.
Continuous development like Aitken Boulevard and Merrifield Business Park brings more jobs and shopping spaces to Craigieburn.
Community benefits include quality schools and healthcare facilities close by, making it family-friendly.

Key Investment Benefits in Craigieburn

A couple in Craigieburn reviews property investment reports in a cozy living room.

Craigieburn stands out for its strong potential in the real estate market. With booming growth and attractive rental yields, this suburb offers lucrative opportunities for investors.

Strong Capital Growth

Capital growth in Craigieburn is impressive, with an average of 7.2% per year over the last 20 years. This means if you invest in property here, your asset’s value could increase significantly over time.

The population has tripled in just 17 years due to a growth rate of over 4%. More people moving to Craigieburn creates more demand for homes. This boosts property values even further.

With 896 home sales in 2019 alone, it’s clear that many see the potential in investing here. The median listing price for houses stands at $630,000. It has been rising too—up by 1.20% over the past year and by 1.61% over two years.

These numbers show strong economic prosperity and residential growth in Craigieburn, making it a smart choice for your investment dollars.

High Rental Yields

Moving from strong capital growth, Craigieburn also offers high rental yields. This is key for you if you want steady income from your investment. Houses in Craigieburn have a median rent of $500 per week.

This gives a yield of 4.12%. Units do even better with a median rent of $430 weekly and a yield of 5.45%. Townhouses stand out too, with rental yields at 5.37% from a median weekly rent of $455.

For bigger homes, the average median rent reaches up to $540 every week. Because of this, houses bring back returns at an impressive rate of 4.26%. These figures show that investing in Craigieburn can be very rewarding for those looking into the rental market.

Craigieburn stands as an attractive spot for property investors aiming for high rental yields.

Continuous Development and Infrastructure Expansion

High rental yields catch your eye, but the ongoing development and infrastructure growth in Craigieburn make it a standout choice. The area is booming with projects like Aitken Boulevard’s connections improving travel.

This means getting around is easier for everyone.

Look at Aston Estate—it’s not just houses. Schools, shops, and places to play are all there. Think about Merrifield Business Park too. It has loads of space for businesses over 415 hectares.

Jobs are coming with Cloverton Town Centre set to offer work to thousands and bring in big retail spaces up to 80,000 square metres.

Craigieburn’s future looks bright with these changes. Roads, jobs, and shopping centres grow the economy and make life better for people living there. Whether you’re looking to invest or find a new home, this place has everything on the move.

Comprehensive Guide to Craigieburn Property Market

The property market in Craigieburn presents a diverse range of options. Median prices for houses stand at $650,000, with units priced more affordably at $425,000. This discrepancy underlines the multitude of choices available to suit every buyer and budget.

Over the past year, 755 houses and 135 units found new owners, clearly demonstrating the suburb’s appeal. The annual rate of capital growth for houses is 2.20%, slightly lower for units at -1.28%, yet the strength of rental yields – 4.26% for houses and a notable 5.45% for units – remains undisputed.

Tenancy costs have also observed considerable spikes – an increase of 11.11% for houses, townhouses experiencing a rise of 16.66%, and units bumping up by 13.15%. Such data imply Craigieburn is experiencing more than just growth; it is flourishing as both locals and investors perceive the merits of establishing roots or expanding their property collections here.

The average monthly mortgage repayments oscillate between $1,800 and $2,399, rendering it more attainable when contrasted with other Melbourne suburbs, while the potential for profit through rental income or future sales solidify investment here as a sound decision.

Now, let’s explore the variety in property types throughout Craigieburn…

Property Market Dynamics

Craigieburn’s property market is shifting, offering unique chances for both seasoned and new investors. This suburb shows strong promise with its mix of available properties and competitive pricing—it’s a market you’ll want to explore further.

Availability of Diverse Property Types

Craigieburn offers a wide range of property types. You can find houses, townhouses, and units all in one area. Last month, 73 houses and 4 units were sold. There were also 343 houses and 25 units on the market before they sold.

This shows strong housing stock availability.

Houses have increased by 3.31% over the past year, while unit availability has jumped by an impressive 47.06%. The average time to sell a house or townhouse is about 119 days, but for units, it’s quicker at only 83 days.

With median prices sitting at $640,000 for some homes like those on Maple Pl or $470,000 for units on Benston St, you can see great investment property options here.

Competitive Property Prices Compared to Other Melbourne Suburbs

The property prices in Craigieburn stand out. Median listing prices are much lower than other suburbs in Melbourne.

You can buy a house for around $630,000 or a unit for about $410,000. In comparison, the median home price for houses in Melbourne is $925,762 and $612,215 for units. This makes Craigieburn an attractive option.

You get good value without overspending compared to inner-Melbourne areas. The competitive pricing allows you to invest wisely while enjoying quality living spaces.

Community and Lifestyle Benefits

Craigieburn offers great community and lifestyle benefits, with quality schools, healthcare services, and plenty of amenities right at your fingertips… It’s an inviting place that brings people together.

Explore more to see why it stands out in the property market.

Access to Quality Schools and Healthcare

Craigieburn is a great choice for families. You’ll find quality schools close by, making it easy for your kids to learn and grow. Many educational institutions in the area have strong reputations.

Nearby healthcare facilities offer excellent medical services too. This enhances the safety and security of the community.

The vibrant lifestyle here supports family-friendly living. Parks and recreational facilities provide places for fun and exercise. With shopping centres nearby, you can enjoy convenience in daily life.

Local amenities like these contribute significantly to neighborhood well-being, creating an inviting atmosphere for all residents.

Vibrant Community with Excellent Amenities

Access to quality schools and healthcare leads you into a vibrant community with excellent amenities. Craigieburn boasts numerous community facilities that cater to all your needs.

The area is close to major shopping centres, like Craigieburn Central, making it easy for residents to shop and dine.

Health services are plentiful here too, with options like the Medical Centre available nearby. You can enjoy recreational spaces such as parks and playgrounds, perfect for families and outdoor lovers.

Community life thrives with strong educational institutions in reach. Sporting facilities promote an active lifestyle, while entertainment options keep everyone engaged. Public transport links enhance convenience, connecting you smoothly across Melbourne’s suburbs.

Conclusion

Craigieburn offers strong opportunities for real estate investment. The area shows solid capital growth and attractive rental yields. You’ll find diverse properties at competitive prices, too.

With ongoing development and a vibrant community, Craigieburn is an appealing choice. Investing here means you’re part of a growing suburb with great potential.

FAQs

1. Why should I consider investing in Craigieburn real estate?

Craigieburn offers a strong property market with rising demand, good infrastructure, and community amenities. These factors create opportunities for both capital growth and rental returns.

2. What are the key benefits of investing in this area?

Investing in Craigieburn means access to quality schools, parks, shopping centres, and public transport. The growing population also indicates future development potential—making it an attractive option for investors.

3. Are there any risks involved with real estate investment in Craigieburn?

Like any investment, there are risks such as market fluctuations and economic changes. However, thorough research can help mitigate these risks—understanding local trends is crucial before making decisions.

4. How do I start my investment journey in Craigieburn?

Begin by researching the local market conditions and property types available—consider working with a local agent who knows the area well. Set clear goals for your investment strategy to guide your choices effectively.

Why Craigieburn is a Great Place to Invest in Real Estate