Suburb Profile Report for Essendon North VIC (3041)

Essendon North House: Median price $862,000, Annual capital growth 9.11%, Number of sales 28, Weekly median advertised rent $390

Essendon North Unit: Median price $420,000, Annual capital growth 3.93%, Number of sales 45, Weekly median advertised rent $340

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

Source: CoreLogic

  • House Report
  • Unit Report

Over the last year, property investments in Essendon North, 3041 have given investors a capital gain of 29.14%. This compares very favourably with the 7.68% for VIC as a whole.

When looking at the potential capital gains offered to property investors over the last 3 years, Essendon North comes in at number 184th in VIC.

Vendor discounting in Essendon North is giving property investors an average Vendor Discount of around -10.06%. This puts suburb at number 51th in VIC when ranking the most discounted suburbs.

At number 2487 in a list of fastest selling suburbs, Essendon North is in the bottom 40% of suburbs in Australia with an average of days on market 96.68 for properties listed there.

Property investors should expect to get $390 weekly from the median priced house in this suburb.

Essendon North has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 0.00% to date .

While Essendon North,3041 ranked number 296th in VIC for increase in median house value (annualised) increase, it is ranked 328th over the last 5 years.

Property investors looking for a bargain in Essendon North should be aiming for at least -4.35% off the asking price, which is the average vendor discount being achieved at the moment.

Property investors should expect to get $340 weekly from the median priced house in this suburb.

HOUSE UNIT
$862,000 $420,000
1.35% -2.78%
29.14% 0.00%
9.11% 3.93%
$390 $340
28 45
2.35% 4.21%
96.68 80.23

Source: CoreLogic

DSR Score for property investment : Above average (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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