Suburb Profile Report for Essendon North VIC (3041)

Essendon North House: Median price $868,500, Annual capital growth 7.74%, Number of sales 27, Weekly median advertised rent $390

Essendon North Unit: Median price $415,000, Annual capital growth 4.71%, Number of sales 33, Weekly median advertised rent $340

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 1366th in the list of Australian suburbs ordered by increase in median house value over the last year, Essendon North, 3041 is in the top 40% with a property value increase of 8.56% recorded in median house prices.

Vendor discounting in Essendon North is giving property investors an average Vendor Discount of around -6.68%. This puts suburb at number 186th in VIC when ranking the most discounted suburbs.

Renters in Suburb are facing rents around $4680 per annum or $390 every week.

If you compare the increase in value of investment property in Essendon North, 3041 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was 0.00%.

Across a shorter period, Essendon North, 3041 has seen a median price increase of -1.19% over the last quarter.

Property buyers and investors in Essendon North 3041 should be seeing an average reduction in asking price of around -4.68% . This means that Essendon North is holding prices well when compared to other suburbs in VIC.

Advertised rents are around the $340 mark per week – giving a return of 4.26% based on the median price in Suburb

Metrics i HOUSE UNIT
$868,500 $415,000
N/A -1.19%
8.56% 0.00%
7.74% 4.71%
$390 $340
27 33
2.34% 4.26%
92.26 78.89

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