Suburb Profile Report for Essendon North VIC (3041)

Essendon North House: Median price $1,061,000, Annual capital growth 11.51%, Number of sales 26, Weekly median advertised rent $390

Essendon North Unit: Median price $396,000, Annual capital growth 4.38%, 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 16th in the list of Australian suburbs ordered by increase in median house value over the last year, Essendon North, 3041 is in the top 10% with a property value increase of 43.28% recorded in median house prices.

Across a shorter period, Essendon North, 3041 has seen a median price increase of 21.26% over the last quarter.

Property investors looking for a bargain in Essendon North should be aiming for at least -6.68% off the asking price, which is the average vendor discount being achieved at the moment.

With the median price for a house in Essendon North being $1061000 and the advertised rent reaching $390 the gross rental yield for property investors calculates out to be 1.91%

VIC has seen average median house prices change by 4.26% which means that Essendon North, 3041 has done well for property investors by showing a capital gain of -7.04% over the last year

While Essendon North,3041 ranked number 339th in VIC for increase in median house value (annualised) increase, it is ranked 335th over the last 5 years.

Our latest figures would indicate that property sellers in Essendon North are currently offering property investors an average price cut of -4.12% below the asking price at the moment.

Advertised rents are around the $340 mark per week – giving a return of 4.46% based on the median price in Suburb

Metrics i HOUSE UNIT
$1,061,000 $396,000
21.26% -5.15%
43.28% -7.04%
11.51% 4.38%
$390 $340
26 33
1.91% 4.46%
84.5 82.36

Source: CoreLogic

DSR Score for property investment : Balanced (H), Above average (U)
Find a mortgage broker in Essendon North VIC
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
Chart Table
Recent sales & rentals