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LEARN MORE ABOUT .idIn Cranbourne Park Catchment, 71% of households were purchasing or fully owned their home, 22.0% were renting privately, and 0.9% were in social housing in 2021.
Cranbourne Park Catchment's Housing Tenure data provides insights into its socio-economic status as well as the role it plays in the housing market. For example, a high concentration of private renters may indicate a transient area attractive to young singles and couples, while a concentration of home owners indicates a more settled area with mature families and empty-nesters (Household Summary). Tenure can also reflect built form (Dwelling Type), with a significantly higher share of renters in high density housing and a substantially larger proportion of home-owners in separate houses, although this is not always the case.
In conjunction with other socio-economic status indicators in Cranbourne Park Catchment, Tenure data is useful for analysing housing markets, housing affordability and identifying public housing areas.
Further reading: How can Councils influence affordable housing.
'Is this dwelling (owned outright, owned with a mortgage etc.)', and 'If this dwelling is being rented, who is it rented from?'
Analysis of the housing tenure of households of Cranbourne Park Catchment in 2021 compared to Victoria shows that there was a smaller proportion of households who owned their dwelling; a larger proportion purchasing their dwelling; and a smaller proportion who were renters.
Overall, 15.0% of households owned their dwelling; 55.9% were purchasing, and 23.0% were renting, compared with 31.0%, 34.6% and 27.5% respectively for Victoria.
The largest changes in housing tenure categories for the households in Cranbourne Park Catchment between 2006 and 2021 were:
The total number of households in Cranbourne Park Catchment increased by 32,399 between 2006 and 2021.
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