Caroline Springs Suburb Report

Caroline Springs is a rapidly expanding development that was established in 1999. Caroline Springs is a suburb of Melbourne, located 25 km west of Melbourne's Central Business District. It is a friendly, planned community that is a great place for growing families. Caroline Springs offers contemporary family homes and modern townhouses on pretty estates surrounded with lakes and public art.

Demographics

In the 2011 census the population of Caroline Springs was 20,366 and is comprised of approximately 50.5% females and 49.5% males. The median/average age of the people in Caroline Springs is 31 years of age. The predominant age group in Caroline Springs is 0-14 years.

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Household Occupancy

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 Household Income

The main occupations of people living in Caroline Springs are

  • Professionals – 20.6%
  • Clerical & administrative workers – 17.3%
  • Technicians & trades workers – 14.1%
  • Managers 12.1%
  • Sales workers – 8.6%
  • Community & personal service workers – 8.5%
  • Machinery operators & drivers – 8.3%
  • Labourers – 8.2%

The main industries people from Caroline Springs work in are

  • Manufacturing – 12.7%
  • Health care and social assistance – 10.7%
  • Retail trade – 9.6%
  • Transport, postal and warehousing – 9.1%
  •  Construction – 8.6%
  • Education and training – 6.7%
  • Professional, scientific and technical services - 6.6%
  • Financial and insurance services – 5.5%
  • Accommodation and food services – 5.1%

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House Statistics

The Median price of houses in Caroline Springs is $480,000, with an annual growth 5.42%. The Median Price is the price of a property that falls in the middle of the total number of houses sold over a period of time. This is based on 391 house sales from 1 Apr 2015 - 04 Apr 2016.

  • 2 Bedroom price is based on 13 house sales.
  • 3 Bedroom price is based on 192 house sales.
  • 4 Bedroom price is based on 150 house sales.

The Median price of Units in Caroline Springs is $391,000, with an annual growth 3.84%. This is based on 54 unit sales from 1 Apr 2015 - 04 Apr 2016.

  • 1 Bedroom (no data - less than 10 sales).
  • 2 Bedroom price is based on 22 unit sales.
  • 3 Bedroom price is based on 27 unit sales.

The Median weekly rent of houses in Caroline Springs is $380, with a Median Gross yield of 4.1%. The median weekly rent of units in Caroline Springs is $360, with a median gross yield of 4.8%.

*Data supplied by RP Data Pty Ltd trading as CoreLogic

 

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We hope this has provided you with a brief insight into the profile of Caroline Springs. Whether you are purchasing a property in Caroline Springs or looking to refinance your existing loan, don’t hesitate to contact Robert on 0415 910 585 for an obligation free consultation.  

 

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