The City of Casey is an outer Melbourne municipality including suburbs such as Berwick, Cranbourne, Endeavour Hills, and Narre Warren. The City of Casey is one of Melbourne’s major growth areas with its population increasing by 43 per cent between 2001 and 2011. This was much faster than metropolitan average of 18 per cent over the same period. With a population of 260,400 people in 2011, it is the largest municipality in Victoria.
The median age in the Cit of Casey in 2011 was 33 years which was younger than the metropolitan median of 36 years. This younger demographic is evident in population growth between 2006 and 2011 in which 43 per cent of the growth were under 34 years of age. More recently between 2010 and 2011, this age group comprised an even higher share (54 per cent) of growth.
The City of Casey has a low level of home ownership with 25 per cent of households owning a home compared to the metropolitan average of 33 per cent. As expected of a growth area, the majority (54 per cent) of households in the City of Case have a mortgage which is much higher than the metropolitan average of 38 per cent.
With nearly half (46 per cent) of the households comprising of couples with children, the City of Casey also has a larger household size of 3 compared to the metropolitan average of 2.6 persons. As it typical of an outer growth area, the City of Casey is also low density with nearly all (91 per cent) of homes comprising of separate houses compared to the metropolitan average of 73 per cent.
The City of Casey has a slightly higher weekly household income than the metropolitan average with a median of $1,893 compared to $1,333. However the median monthly mortgage repayment was lower than the metropolitan average at $1,733 compared to $1,810. This is reflective of the more affordable house prices in the City of Casey which proved attractive to first home buyers and young families.
The City of Casey appears more multicultural than the metropolitan average with 36 per cent of residents being born overseas compared to the metropolitan average of 33 per cent. Aside from Australia, the top three countries of birth were India (4 per cent), England (4 per cent), and Sri Lanka (3 per cent).
The median house price in the City of Casey has increased from $288,000 in September 2007 to $370,000 in September 2012. This equates to capital growth of 28 per cent which is higher than the metropolitan average of 26 per cent. It remains below the Melbourne median house price of $530,000 in September 2012.
The median unit price in the City of Casey increased from $220,000 in September 2007 to $266,000 in September 2012. This equates to growth of 21 per cent which was in line with the metropolitan average.
Between 2007 and 2011, there were over 5,150 house and unit sales per annum in the City of Casey. However transaction levels over the past two years in 2010 and 2011 have been below this average. It is estimated that there will be around 2,700 sales in the City of Casey in 2012, slightly lower than transactions in 2011 of 2,800 sales.
Around 2 per cent of sales in the City of Casey between 2007 and 2011 were auction sales. It is estimated that auctions in 2012 will continue to comprise around 2 per cent. The total clearance rate for the year to mid-November 2012 in the City of Casey is 42 per cent, lower than its five year average clearance rate of 69 per cent.
Four out of the top five auction suburbs in the City of Casey had a lower clearance rate in 2012 year to date than in the previous year. Endevaour Hills proved an exception with an improvement in its clearance rate from 50 per cent to 62 per cent over this period. It also recorded the highest clearance rate in the City of Casey.
Between September 2007 and September 2012, there were around 2,500 new building approvals per annum in the City of Casey. Building activity over the past 12 months ending September 2012 have been more subdued with around 2,300 building approvals, six per cent below its five year average.
In June quarter 2012, the unemployment rate in the City of Casey was 5.4 per cent which was in line with the metropolitan average. This marks the first increase in the unemployment rate in almost three years. The City of Casey has a high number of blue collar and white collar workers with the top five occupations shown in the following table.
|Occupation (2008-09)||Earners (no.)||Average Income ($) in 2008-09|
|1||Factory Process Workers||7,158||33,245|
|3||Sales Assistants and Salespersons||4,945||23,896|
|4||General Clerical Workers||4,720||32,222|
|5||Carers and Aides||4,640||26,074|
Source: ABS Cat. No. 5673.0