Suburb Profile Report for Coburg North VIC (3058)

Coburg North House: Median price $700,000, Annual capital growth 9.11%, Number of sales 86, Weekly median advertised rent $400

Coburg North Unit: Median price $463,500, Annual capital growth 6.43%, Number of sales 33, Weekly median advertised rent $368

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

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VIC has seen average median house prices change by 8.13% which means that Coburg North, 3058 has done well for property investors by showing a capital gain of 14.29% over the last year

Taking the average capital gain, or increase in median house value, Coburg North,3058 has racked up an average of 14.29% over the period. This ranks it number 798th in the whole country for real estate investors looking at median house price increases.

Coburg North3058 is located in VIC which offers an average discount of -5.99% to property investors. Coburg North itself is showing figures that indicate -4.43% is the average achievable by property buyers investing in the suburb.

Property investors should expect to get $400 weekly from the median priced house in this suburb.

Investment property in Coburg North has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.17%

Taking the average capital gain, or increase in median house value, Coburg North,3058 has racked up an average of 7.17% over the period. This ranks it number 1068th in the whole country for real estate investors looking at median house price increases.

Property buyers and investors in Coburg North 3058 should be seeing an average reduction in asking price of around -3.90% . This means that Coburg North is holding prices well when compared to other suburbs in VIC.

A $367.5 per week rent on the median house gives suburb investors a gross yield of circa 4.12%, without taking into account capital value appreciation, which has been averaging out at 6.43%.

YIP MAG Information supplied by:

YIP MAG
December 2015

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Coburg North’s relative affordability for a suburb in Melbourne’s middle ring could see it take off soon.Full summary Coburg North’s relative affordability for a suburb in Melbourne’s middle ring could see it take off soon.

While the median house price in the suburb has risen by 27% over the past three years, it is still relatively affordable around the low $600,000 mark.

That affordability is being noticed too, with the average time a house spends on the market being 46 days, which is lower than many surrounding suburbs.

On the amenity side of things, Coburg North has a fair bit going for it.

The Batman and Merlynston train stations are located within the suburb, while Sydney Rd provides an easy drive into the centre of Melbourne.

Charles St, in the suburb’s south, is a growing shopping area, while Batman Market attracts many to the area.

There are also two private hospitals nearby, while the Fawkner Police Station is just north of Coburg North.Close
HOUSE UNIT
$700,000 $463,500
6.06% -1.90%
14.29% 7.17%
9.11% 6.43%
$400 $368
86 33
2.97% 4.12%
39.07 100.93

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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Demographics
Total population 6575
Median household income ($/weekly) 1067
Median age of persons 38
Median housing loan repayment ($/monthly) 1950
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 656 10.0
    25-34 years 1053 16.0
    35-44 years 1111 16.9
    45-54 years 797 12.1
    55-64 years 562 8.5
    Others 2395 36.4
    Age Group
    Census Count Percent(%)
    Not Married 2251 45.9
    Registered Married 2185 44.5
    Defacto Relationship 473 9.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 3747 61.6
    Hong Kong 195 3.2
    Indonesia 166 2.7
    Japan 479 7.9
    Other 400 6.6
    Others 1093 18.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 165 2.8
    Christianity 3592 60.4
    Hinduism 150 2.5
    Islam 534 9.0
    No Religion 1415 23.8
    Others 94 1.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 256 11.9
    $600-$799 215 10.0
    $1,000-$1,249 201 9.3
    $1,500-$1,999 261 12.1
    $2,000-$2,499 209 9.7
    Others 1008 46.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2044 40.3
    Employed, worked full-time 1719 33.9
    Employed, worked part-time 974 19.2
    Unemployed, looking for work 180 3.6
    Employed, away from work 149 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 308 10.8
    Professionals 701 24.6
    Technicians & trades workers 395 13.9
    Clerical & administrative workers 432 15.2
    Labourers 270 9.5
    Others 741 26.0
    Occupation
    Census Count Percent(%)
    Pre-school 95 6.8
    Infants/Primary 418 29.8
    Secondary 278 19.8
    Technical or Further Educational Institution 184 13.1
    University or other Tertiary Institutions 343 24.4
    Others 86 6.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4915 81.7
    Semi-detached, row or terrace house, townhouse 613 10.2
    Flat, unit or apartment 451 7.5
    House or flat attached to a shop, office 24 0.4
    Caravan, cabin, houseboat 11 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 911 39.3
    Rented 700 30.2
    Being purchased 695 30.0
    Other tenure type 11 0.5
    Tenure Type
Census 2011, ABS
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