HOUSE AND LAND
Cranbourne East is a fast-growing suburb in Melbourne, Victoria, Australia, 45 km south-east of Melbourne's central business district. Its local government area is the City of Casey. The size of Cranbourne East is approximately 13.3 square kilometres and it has 2 parks covering nearly 0.2% of total area.
The population of Cranbourne East in 2011 was 8,210 people. By 2016 the population was 16,181 showing a population growth of 97.1% in the area during that time.
Cranbourne East is easily accessible from the South Gippsland Highway. The suburb features all of the amenities a family could ask for and more; including 2 major shopping centres, a variety of educational facilities and levels, widely serviced public transport and hectares of beautiful garden spaces including the Cranbourne Botanical Gardens. Cranbourne is ideally situated, just a short drive from the many activities and coastal attractions that the Mornington Peninsula and Western Port provide.
It is home to the Casey Complex, which is where the head office of the Casey-Cardinia Library Cooperation is located, and is home also to the Cranbourne Bowland, a ten-pin bowling complex. There is also a Recreation and Aquatic Centre, directly next to the sporting facility of Casey Complex, featuring a 50m Olympic swimming pool, water slides, gymnasium and general aquatic facilities.
Cranbourne East is home to Cranbourne East Primary School, Cranbourne East Secondary College and the Casey Grammar Private School. Chisholm TAFE and St Thomas the Apostle Catholic Primary School is also located nearby.
Prices and Growth
According to realestate.com.au, the median house price in Cranbourne East in 2019 was $565,000. If you are looking for an investment property, houses in Cranbourne East rent out for a median price of $400 PW with an annual rental yield of 3.7% and units rent for $360 PW with a rental yield of 4.6%. Based on five years of sales, Cranbourne East has seen a compound growth rate of 6.6% for houses and 2.3% for units.