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