Suburb Profile Report for Essendon VIC (3040)

Essendon House: Median price $1,175,000, Annual capital growth 8.47%, Number of sales 218, Weekly median advertised rent $450

Essendon Unit: Median price $485,000, Annual capital growth 5.64%, Number of sales 241, Weekly median advertised rent $340

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Essendon 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 17.21%

The five-year average increase in median property values for Essendon,3040 has given property investors a potential capital gain of 32.39% across each of those five years.

Essendon3040 is located in VIC which offers an average discount of -6.04% to property investors. Essendon itself is showing figures that indicate -6.81% is the average achievable by property buyers investing in the suburb.

On average over the past year, suburb has had 18.17 sales per month, which equates to 218 per year.

Essendon has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.62% to date .

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

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.22% offered to property buyers. Sellers in Essendon itself are offering an average vendor discount of -3.84% to real estate investors.

Renters in Suburb are facing rents around $4080 per annum or $340 every week.

Andrew Pennisi Information supplied by:

Andrew Pennisi
Pennisi Real Estate

M
O (03) 9379 5616

W www.pennisi.com.au
E Andrew@pennisi.com.au
Essendon has long been a social hub within North Melbourne. It is close to many amenities and some of the most sort after shopping strips in the city. It boasts a collection of fantastic shopping strips, cafes and highly regarded schools.Full summary

Selling points: Essendon is one of the most highly regarded and demanded suburbs North of the city.

Dating back to the 1850's Essendon has long been the social hub of the North, close to all amenities and some of the most sort after shopping strips in Melbourne.

Most sort after properties: Essendon has a diverse range of people and cultures and, in turn, a strong demand for all types of properties ranging from one bedroom apartments to four bedroom homes. 

Most common properties: As one of Melbourne’s original suburbs, Essendon is home to a diverse range of homes. State of the art developments in areas such as Keilor Road in Essendon’s North through to the ever changing Mt Alexander Road bring a fresh and lively buzz while the original periodic homes with their detailed carpentry, intricately designed frontages and large land sizes make them unique to the area and a rarity for Melbourne’s inner suburbs.

Top amenities: Essendon boasts a collection of fantastic shopping strips, cafés and highly regarded schools with Keilor Road, Essendon North and Mt Alexander Road being some of the popular locations for social events and up to 9 private and public schools including the illustrious St. Bernard and Buckley Park Colleges.

Other major features of the area include Kangan Batman TAFE (Essendon Campus), Windy Hill (home of the Essendon Football Club) and the many parks and Reserves providing a wonderful family orientated atmosphere with large open spaces and picturesque scenery.

Local industry and businesses: Keilor road and Essendon fields is strongly supported by the car industry, with most of the major dealerships represented.  Keilor Road also has a strong cafe culture with a wide range of restaurants and cafes.  

Recent changes: Like most inner suburbs Essendon has seen a growing demand for Apartment living, with council support. 

Best streets: Home owners love living in the Mar Lodge Estate located between Buckley Street and Keilor Road. Mar Lodge has a one dwelling covenant on it restricting the building of apartment and units; this has proven very popular with family's wanting to build their dream home. 

Public transport: Essendon’s public transport is efficient and reliable with many options available to suit each individual’s requirements.

The Tullamarine Freeway provides quick and easy access to both the Tullamarine International Airport and City Centre via the Toll Road. Essendon’s train station is conveniently located on the corner of Buckley Street and Rose Street with an abundance of parking for commuters providing safe and secure travel to and from the city via the Cragieburn line.

The number 59 Tram provides direct access to the city via Elizabeth Street and services many of the main roads including Keilor Road, Bulla Road and Mt Alexander Road.

Main arteries: The Tullamarine Freeway provides fast and easy access to an abundance of major attractions including the Moonee Valley Racing Club, Flemington Racecourse, Essendon Fields and the Melbourne Zoo to name a few.

Close
HOUSE UNIT
$1,175,000 $485,000
8.42% -6.01%
17.21% -1.62%
8.47% 5.64%
$450 $340
218 241
1.99% 3.65%
70.51 61.45

Source: CoreLogic

DSR Score for property investment : Above average (H), Good (U)
Find a mortgage broker in Essendon VIC
Demographics
Total population 18852
Median household income ($/weekly) 1538
Median age of persons 38
Median housing loan repayment ($/monthly) 2167
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 2201 11.7
    25-34 years 2850 15.1
    35-44 years 2733 14.5
    45-54 years 2726 14.5
    55-64 years 2085 11.1
    Others 6257 33.2
    Age Group
    Census Count Percent(%)
    Registered Married 6911 48.3
    Not Married 6411 44.8
    Defacto Relationship 986 6.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 13768 76.9
    Indonesia 737 4.1
    Japan 596 3.3
    United Kingdom 447 2.5
    Other 549 3.1
    Others 1816 10.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 279 1.6
    Christianity 12760 73.4
    Hinduism 527 3.0
    Islam 263 1.5
    No Religion 3394 19.5
    Others 160 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 508 7.9
    $800-$999 524 8.1
    $1,500-$1,999 744 11.5
    $2,000-$2,499 603 9.4
    $2,500-$2,999 766 11.9
    Others 3299 51.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 6371 42.8
    Not in the labour force 4388 29.5
    Employed, worked part-time 3165 21.3
    Employed, away from work 520 3.5
    Unemployed, looking for work 446 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 1495 14.9
    Professionals 3015 30.0
    Technicians & trades workers 943 9.4
    Clerical & administrative workers 1770 17.6
    Sales 1014 10.1
    Others 1815 18.1
    Occupation
    Census Count Percent(%)
    Pre-school 284 6.0
    Infants/Primary 1411 29.8
    Secondary 1271 26.8
    Technical or Further Educational Institution 353 7.4
    University or other Tertiary Institutions 1264 26.7
    Others 157 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 12312 70.1
    Flat, unit or apartment 3208 18.3
    Semi-detached, row or terrace house, townhouse 2002 11.4
    House or flat attached to a shop, office 47 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 2583 37.2
    Rented 2352 33.8
    Being purchased 1973 28.4
    Other tenure type 44 0.6
    Tenure Type
Census 2011, ABS
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