Suburb Profile Report for Tarneit VIC (3029)

Tarneit House: Median price $465,000, Annual capital growth 5.44%, Number of sales 636, Weekly median advertised rent $360

Tarneit Unit: Median price $335,500, Annual capital growth 4.22%, Number of sales 53, Weekly median advertised rent $310

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

Source: CoreLogic

  • House Report
  • Unit Report

Tarneit has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 13.97% to date .

While Tarneit,3029 ranked number 273th in VIC for increase in median house value (annualised) increase, it is ranked 385th over the last 5 years.

Property investors looking for a bargain in Tarneit should be aiming for at least -4.46% off the asking price, which is the average vendor discount being achieved at the moment.

Often selling an investment property can take time, and in Tarneit the average time real estate has been on the market is 47.1 days.

A $360 per week rent on the median house gives suburb investors a gross yield of circa 4.03%, without taking into account capital value appreciation, which has been averaging out at 5.44%.

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 6.51%.

If we look at median property appreciation over just the last three months, Tarneit has given property investors a paper return of 1.67%. This puts Suburb as 157 on a list of fastest fasting appreciating suburbs in VIC

At number 168th of VIC’s most discounted properties, Tarneit is in the middle of the state/territory when listing in order of most discounted to least.

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

Metrics i HOUSE UNIT
$465,000 $335,500
3.33% 1.67%
13.97% 6.51%
5.44% 4.22%
$360 $310
636 53
4.03% 4.80%
47.1 81.18

Source: CoreLogic

DSR Score for property investment : Above average (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