Suburb Profile Report for Tarneit VIC (3029)

Tarneit House: Median price $420,000, Annual capital growth 4.41%, Number of sales 605, Weekly median advertised rent $350

Tarneit Unit: Median price $311,250, Annual capital growth 3.50%, Number of sales 52, Weekly median advertised rent $310

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Tarneit have tracked close to the VIC average of 8.13% over the last 12 months.

A 13.51% growth in median value for property investors in Tarneit,3029 puts this suburb at number 215th in terms of best performing suburbs in VIC

Our latest figures would indicate that property sellers in Tarneit are currently offering property investors an average price cut of -5.26% below the asking price at the moment.

Residents and property investors in Tarneit have been waiting around 54.96 days to sell a property.

Using the current median advertised rental of $350 and the average annual increase in value of a median property of 4.41%, investors should hope to achieve an overall return of 4.33%

Property investors who have had real estate in Tarneit, 3029 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 3.94%

The five-year average increase in median property values for Tarneit,3029 has given property investors a potential capital gain of 4.62% across each of those five years.

LACK OF BUYER INTEREST may well be the reason that Tarneit is offering property investors an average of -5.33. This rate of discount on properties puts Suburb at number 108th in terms of most discounted suburbs in VIC

HOUSE UNIT
$420,000 $311,250
2.41% -1.50%
7.42% 3.94%
4.41% 3.50%
$350 $310
605 52
4.33% 5.18%
54.96 68.66

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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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
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