Suburb Profile Report for Coburg North VIC (3058)

Coburg North House: Median price $771,500, Annual capital growth 10.16%, Number of sales 90, Weekly median advertised rent $420

Coburg North Unit: Median price $513,500, Annual capital growth 7.65%, Number of sales 33, Weekly median advertised rent $370

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: CoreLogic

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  • Unit Report
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Property investors who have had real estate in Coburg North, 3058 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 19.61%

A 48.37% growth in median value for property investors in Coburg North,3058 puts this suburb at number 104th in terms of best performing suburbs in VIC

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.03% offered to property buyers. Sellers in Coburg North itself are offering an average vendor discount of -4.37% to real estate investors.

On average over the past year, suburb has had 7.50 sales per month, which equates to 90 per year.

Property investors should expect to get $420 weekly from the median priced house in this suburb.

Investment property in Coburg North has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 4.80%

Over the longer term, Coburg North has seen property prices show investors a 18.05% return over the last 3 years. This is worse than over the last 12 months

Coburg North3058 is located in VIC which offers an average discount of -5.12% to property investors. Coburg North itself is showing figures that indicate -6.79% is the average achievable by property buyers investing in the suburb.

On average over the past year, suburb has had 2.75 sales per month, which equates to 33 per year.

Renters in Suburb are facing rents around $4440 per annum or $370 every week.

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
$771,500 $513,500
5.68% 8.11%
19.61% 4.80%
10.16% 7.65%
$420 $370
90 33
2.83% 3.75%
44.9 83.05

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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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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