Suburb Profile Report for Tarneit VIC (3029)

Tarneit House: Median price $485,000, Annual capital growth 5.97%, Number of sales 684, Weekly median advertised rent $370

Tarneit Unit: Median price $332,000, Annual capital growth 4.06%, Number of sales 61, Weekly median advertised rent $310

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Tarneit has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 15.90%

The five-year average increase in median property values for Tarneit,3029 has given property investors a potential capital gain of 34.72% across each of those five years.

The most recent median price for Tarneit is $485000, with sellers offering an average of -4.19% off the asking price.

At number 552 in a list of fastest selling suburbs, Tarneit is in the TOP 20% of suburbs in Australia with an average of days on market 45.95 for properties listed there.

A $370 per week rent on the median house gives suburb investors a gross yield of circa 3.97%, without taking into account capital value appreciation, which has been averaging out at 5.97%.

Tarneit is an average performer in VIC when comparing median price capital growth over the last year. Tarneit gave property investors a good capital gain figure when compared to the rest of the state, with 8.50%.

Tarneit,3029 has offered an average of 8.50% return per annum in house price rises to property investors over the last three years.

The most recent median price for Tarneit is $332000, with sellers offering an average of -4.36% off the asking price.

Situated 24.69km from the CBD, Tarneit is one of Wyndham localities in the postcode 3029.

Metrics i HOUSE UNIT
$485,000 $332,000
4.19% 2.47%
15.90% 8.50%
5.97% 4.06%
$370 $310
684 61
3.97% 4.86%
45.95 65.03

Source: CoreLogic

DSR Score for property investment : Good (U), Above average (H)
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Demographics
Total population 21690
Median household income ($/weekly) 1563
Median age of persons 29
Median housing loan repayment ($/monthly) 2000
Average household size 3.1
  • Census Count Percent(%)
    0-4 years 2463 11.4
    5-14 years 3389 15.6
    25-34 years 5050 23.3
    35-44 years 3741 17.2
    45-54 years 2084 9.6
    Others 4963 22.9
    Age Group
    Census Count Percent(%)
    Registered Married 8071 54.8
    Not Married 5094 34.6
    Defacto Relationship 1572 10.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 11852 58.0
    Indonesia 1704 8.3
    Papua New Guinea 1017 5.0
    Philippines 969 4.7
    Other 1787 8.7
    Others 3103 15.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 627 3.2
    Christianity 12076 60.8
    Hinduism 1535 7.7
    Islam 1654 8.3
    No Religion 3521 17.7
    Others 443 2.2
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 621 10.2
    $1,250-$1,499 648 10.6
    $1,500-$1,999 1157 19.0
    $2,000-$2,499 918 15.1
    $2,500-$2,999 557 9.1
    Others 2189 35.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 7448 49.9
    Not in the labour force 3677 24.6
    Employed, worked part-time 2518 16.9
    Unemployed, looking for work 700 4.7
    Employed, away from work 587 3.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 1005 9.5
    Professionals 1786 16.9
    Technicians & trades workers 1507 14.3
    Clerical & administrative workers 1885 17.9
    Machinery operators & drivers 1152 10.9
    Others 3215 30.5
    Occupation
    Census Count Percent(%)
    Pre-school 468 8.5
    Infants/Primary 2194 39.9
    Secondary 1401 25.5
    Technical or Further Educational Institution 437 7.9
    University or other Tertiary Institutions 741 13.5
    Others 258 4.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 19745 95.9
    Semi-detached, row or terrace house, townhouse 766 3.7
    Flat, unit or apartment 65 0.3
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 3903 59.4
    Rented 1848 28.1
    Fully owned 750 11.4
    Other tenure type 71 1.1
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals