Suburb Profile Report for Northcote VIC (3070)

Northcote House: Median price $1,285,000, Annual capital growth 10.10%, Number of sales 252, Weekly median advertised rent $590

Northcote Unit: Median price $480,000, Annual capital growth 4.68%, Number of sales 239, Weekly median advertised rent $385

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Northcote, 3070 ranked 105th in VIC when comparing growth in median property values or capital gain over the last 12 months. Northcote is one of 2098 in our list for VIC

Northcote,3070 was ranked 484 in Australia by increase in median property value over the quarter.

Property buyers and investors in Northcote 3070 should be seeing an average reduction in asking price of around -6.79% . This means that Northcote is holding prices well when compared to other suburbs in VIC.

In the last year 252 properties changed hands in Northcote, which puts it as the 83th most active market in VIC when comparing the number of sales per suburb.

Over the last year, property investments in Northcote, 3070 have given investors a capital gain of -4.00%. This compares very badly with the 4.83% for VIC as a whole.

While Northcote,3070 ranked number 335th in VIC for increase in median house value (annualised) increase, it is ranked 290th over the last 5 years.

LACK OF BUYER INTEREST may well be the reason that Northcote is offering property investors an average of -4.95. This rate of discount on properties puts Suburb at number 241th in terms of most discounted suburbs in VIC

Renters in Suburb are facing rents around $4620 per annum or $385 every week.

YIP MAG Information supplied by:

YIP MAG
October 2015

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The changing face of Northcote includes a bunch of new restaurants, bars and cafes which helps cater for the professionals that target this area.Full summary The changing face of Northcote includes a bunch of new restaurants, bars and cafes which helps cater for the professionals that target this area.

No doubt they are also attracted to the fact that it’s located just six kilometres from the Melbourne CBD and has a good range of public transport options including buses, trains and trams.

And despite benefitting from great commercial amenities it is still regarded as a quiet suburb which is also a good spot for families.

They love the range of schools and parks in the suburb, not to mention the strong social fabric. 

Families tend to seek out period homes of three or four bedrooms, while young professionals favour units close to sought-after amenities.

The vacancy rate is a reasonable 2.07%, according to Real Estate Investar.

Two-bedroom apartments on Victoria Rd are close to High St which has some of the suburb’s most trendy cafes, shops and bars.

They can be bought for less than $550,000.
 Close
Metrics i HOUSE UNIT
$1,285,000 $480,000
7.08% -5.65%
18.98% -4.00%
10.10% 4.68%
$590 $385
252 239
2.39% 4.17%
54.22 83.93

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 22919
Median household income ($/weekly) 1564
Median age of persons 36
Median housing loan repayment ($/monthly) 2013
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 2290 10.0
    25-34 years 4635 20.2
    35-44 years 4328 18.9
    45-54 years 3037 13.3
    55-64 years 1960 8.6
    Others 6670 29.1
    Age Group
    Census Count Percent(%)
    Not Married 8222 47.1
    Registered Married 6573 37.6
    Defacto Relationship 2674 15.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 15797 72.4
    Hong Kong 1189 5.5
    Japan 670 3.1
    United Kingdom 908 4.2
    Other 698 3.2
    Others 2554 11.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 568 2.7
    Christianity 10120 48.7
    Hinduism 198 1.0
    Islam 292 1.4
    No Religion 9333 45.0
    Others 252 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 647 7.9
    $1,500-$1,999 997 12.2
    $2,000-$2,499 844 10.4
    $2,500-$2,999 887 10.9
    $3,000-$3,499 665 8.2
    Others 4104 50.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 7767 42.6
    Not in the labour force 5225 28.6
    Employed, worked part-time 3980 21.8
    Employed, away from work 709 3.9
    Unemployed, looking for work 570 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 1722 13.8
    Professionals 5201 41.8
    Technicians & trades workers 1010 8.1
    Community & personal service workers 1051 8.4
    Clerical & administrative workers 1615 13.0
    Others 1858 14.9
    Occupation
    Census Count Percent(%)
    Pre-school 448 8.3
    Infants/Primary 1527 28.2
    Secondary 961 17.8
    Technical or Further Educational Institution 483 8.9
    University or other Tertiary Institutions 1780 32.9
    Others 215 4.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 14389 66.9
    Semi-detached, row or terrace house, townhouse 3806 17.7
    Flat, unit or apartment 3083 14.3
    House or flat attached to a shop, office 234 1.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 3346 37.7
    Fully owned 2804 31.6
    Being purchased 2698 30.4
    Other tenure type 33 0.4
    Tenure Type
Census 2011, ABS
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