Suburb Profile Report for Tarneit VIC (3029)

Tarneit House: Median price $438,750, Annual capital growth 4.87%, Number of sales 617, Weekly median advertised rent $360

Tarneit Unit: Median price $330,000, Annual capital growth 4.05%, Number of sales 73, Weekly median advertised rent $305

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 1035th in the list of Australian suburbs ordered by increase in median house value over the last year, Tarneit, 3029 is in the top 30% with a property value increase of 9.69% recorded in median house prices.

If we look at median property appreciation over just the last three months, Tarneit has given property investors a paper return of 3.85%. This puts Suburb as 180 on a list of fastest fasting appreciating suburbs in VIC

Property buyers and investors in Tarneit 3029 should be seeing an average reduction in asking price of around -5.08% . This means that Tarneit is holding prices well when compared to other suburbs in VIC.

At number 791 in a list of fastest selling suburbs, Tarneit is in the TOP 30% of suburbs in Australia with an average of days on market 58.03 for properties listed there.

The VIC suburb of Tarneit, 3029 is in the Wyndham local government area.

If you compare the increase in value of investment property in Tarneit, 3029 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 10.00%.

Tarneit,3029 was ranked 260 in Australia by increase in median property value over the quarter.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.14% offered to property buyers. Sellers in Tarneit itself are offering an average vendor discount of -6.45% to real estate investors.

Using the current median advertised rental of $305 and the average annual increase in value of a median property of 4.05%, investors should hope to achieve an overall return of 4.81%

HOUSE UNIT
$438,750 $330,000
3.85% 4.85%
9.69% 10.00%
4.87% 4.05%
$360 $305
617 73
4.27% 4.81%
58.03 82.89

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Tarneit VIC
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