Suburb Profile Report for Essendon West VIC (3040)

Essendon West House: Median price $922,500, Annual capital growth 8.94%, Number of sales 28, Weekly median advertised rent $455

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

Source: CoreLogic

  • House Report

Investment property in Essendon West has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -0.81%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Essendon West has increased when compared to the 5 year average annual rate.

Essendon West, 3040 is offering VIC ‘s 604th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this VIC.

Often selling an investment property can take time, and in Essendon West the average time real estate has been on the market is 44.23 days.

With the median price for a house in Essendon West being $922500 and the advertised rent reaching $455 the gross rental yield for property investors calculates out to be 2.56%

HOUSE UNIT
$922,500 N/A
N/A N/A
-0.81% N/A
8.94% N/A
$455 N/A
28 N/A
2.56% N/A
44.23 N/A

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Essendon West VIC
Demographics
Total population 1398
Median household income ($/weekly) 1406
Median age of persons 40
Median housing loan repayment ($/monthly) 2074
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 194 13.9
    25-34 years 139 9.9
    35-44 years 220 15.7
    45-54 years 198 14.2
    55-64 years 136 9.7
    Others 511 36.6
    Age Group
    Census Count Percent(%)
    Registered Married 558 51.8
    Not Married 448 41.6
    Defacto Relationship 71 6.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 1118 81.7
    Croatia 21 1.5
    Japan 34 2.5
    United Kingdom 30 2.2
    Other 26 1.9
    Others 139 10.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 36 2.7
    Christianity 1003 76.4
    Hinduism 5 0.4
    Islam 8 0.6
    No Religion 257 19.6
    Others 4 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 44 9.5
    $600-$799 45 9.7
    $1,250-$1,499 38 8.2
    $1,500-$1,999 64 13.8
    $2,500-$2,999 61 13.2
    Others 211 45.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 430 39.1
    Not in the labour force 390 35.4
    Employed, worked part-time 222 20.2
    Employed, away from work 34 3.1
    Unemployed, looking for work 25 2.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 89 13.0
    Professionals 198 28.9
    Technicians & trades workers 91 13.3
    Community & personal service workers 70 10.2
    Clerical & administrative workers 109 15.9
    Others 129 18.8
    Occupation
    Census Count Percent(%)
    Pre-school 20 5.3
    Infants/Primary 126 33.7
    Secondary 107 28.6
    Technical or Further Educational Institution 29 7.8
    University or other Tertiary Institutions 82 21.9
    Others 10 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1103 81.3
    Semi-detached, row or terrace house, townhouse 131 9.7
    Flat, unit or apartment 114 8.4
    House or flat attached to a shop, office 8 0.6
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 229 45.3
    Being purchased 156 30.9
    Rented 120 23.8
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals