Suburb Profile Report for Northcote VIC (3070)

Northcote House: Median price $1,255,000, Annual capital growth 10.12%, Number of sales 264, Weekly median advertised rent $580

Northcote Unit: Median price $498,250, Annual capital growth 5.42%, Number of sales 220, Weekly median advertised rent $380

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

VIC has seen average median house prices change by 9.04% which means that Northcote, 3070 has done well for property investors by showing a capital gain of 16.20% over the last year

Taking the average capital gain, or increase in median house value, Northcote,3070 has racked up an average of 16.20% over the period. This ranks it number 399th in the whole country for real estate investors looking at median house price increases.

The most recent median price for Northcote is $1255000, with sellers offering an average of -5.92% off the asking price.

On average over the past year, suburb has had 22.00 sales per month, which equates to 264 per year.

A $580 per week rent on the median house gives suburb investors a gross yield of circa 2.40%, without taking into account capital value appreciation, which has been averaging out at 10.12%.

Over the last year, property investments in Northcote, 3070 have given investors a capital gain of -0.35%. This compares badly with the 4.28% for VIC as a whole.

Taking the average capital gain, or increase in median house value, Northcote,3070 has racked up an average of -0.35% over the period. This ranks it number 1357th in the whole country for real estate investors looking at median house price increases.

Vendor discounting in Northcote is giving property investors an average Vendor Discount of around -3.29%. This puts suburb at number 263th in VIC when ranking the most discounted suburbs.

On average over the past year, suburb has had 18.33 sales per month, which equates to 220 per year.

Using the current median advertised rental of $380 and the average annual increase in value of a median property of 5.42%, investors should hope to achieve an overall return of 3.97%

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
$1,255,000 $498,250
6.27% -2.30%
16.20% -0.35%
10.12% 5.42%
$580 $380
264 220
2.40% 3.97%
56.46 82.47

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Northcote VIC
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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