Suburb Profile Report for Essendon North VIC (3041)

Essendon North House: Median price $868,500, Annual capital growth 8.96%, Number of sales 25, Weekly median advertised rent $390

Essendon North Unit: Median price $405,500, Annual capital growth 4.38%, Number of sales 38, Weekly median advertised rent $340

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 736th in the list of Australian suburbs ordered by increase in median house value over the last year, Essendon North, 3041 is in the top 20% with a property value increase of 12.79% recorded in median house prices.

Essendon North3041 is located in VIC which offers an average discount of -6.00% to property investors. Essendon North itself is showing figures that indicate -7.43% is the average achievable by property buyers investing in the suburb.

A $390 per week rent on the median house gives suburb investors a gross yield of circa 2.34%, without taking into account capital value appreciation, which has been averaging out at 8.96%.

Essendon North, 3041 ranked 295th in VIC when comparing growth in median property values or capital gain over the last 12 months. Essendon North is one of 2098 in our list for VIC

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

Property investors looking for a bargain in Essendon North should be aiming for at least -5.30% off the asking price, which is the average vendor discount being achieved at the moment.

Advertised rents are around the $340 mark per week – giving a return of 4.36% based on the median price in Suburb

Metrics i HOUSE UNIT
$868,500 $405,500
N/A -3.45%
12.79% -3.45%
8.96% 4.38%
$390 $340
25 38
2.34% 4.36%
97.11 82.61

Source: CoreLogic

DSR Score for property investment : Balanced (H), Above average (U)
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Demographics
Total population 2287
Median household income ($/weekly) 1270
Median age of persons 39
Median housing loan repayment ($/monthly) 1950
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 260 11.4
    25-34 years 368 16.1
    35-44 years 374 16.3
    45-54 years 323 14.1
    55-64 years 244 10.7
    Others 719 31.4
    Age Group
    Census Count Percent(%)
    Registered Married 806 49.6
    Not Married 701 43.2
    Defacto Relationship 117 7.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 1552 74.0
    Indonesia 115 5.5
    Japan 104 5.0
    United Kingdom 52 2.5
    Other 69 3.3
    Others 206 9.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 47 2.3
    Christianity 1489 73.2
    Hinduism 79 3.9
    Islam 23 1.1
    No Religion 374 18.4
    Others 21 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 78 9.5
    $600-$799 70 8.5
    $1,000-$1,249 87 10.5
    $1,500-$1,999 108 13.1
    $2,500-$2,999 84 10.2
    Others 398 48.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 730 41.9
    Not in the labour force 574 33.0
    Employed, worked part-time 321 18.4
    Employed, away from work 66 3.8
    Unemployed, looking for work 50 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 146 13.0
    Professionals 280 25.0
    Technicians & trades workers 137 12.2
    Clerical & administrative workers 205 18.3
    Sales 115 10.3
    Others 238 21.2
    Occupation
    Census Count Percent(%)
    Pre-school 35 7.7
    Infants/Primary 159 34.9
    Secondary 120 26.3
    Technical or Further Educational Institution 32 7.0
    University or other Tertiary Institutions 97 21.3
    Others 13 2.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1183 58.6
    Flat, unit or apartment 576 28.5
    Semi-detached, row or terrace house, townhouse 261 12.9
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 311 35.5
    Fully owned 289 33.0
    Being purchased 270 30.8
    Other tenure type 6 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals