Suburb Profile Report for Tongala VIC (3621)

Tongala House: Median price $195,000, Annual capital growth 3.21%, Number of sales 14, Weekly median advertised rent $225

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

Source: CoreLogic

  • House Report
  • Expert Report

Tongala has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 5.41% to date .

A 17.12% growth in median value for property investors in Tongala,3621 puts this suburb at number 152th in terms of best performing suburbs in VIC

In the last year 14 properties changed hands in Tongala, which puts it as the 663th most active market in VIC when comparing the number of sales per suburb.

Property investors should expect to get $225 weekly from the median priced house in this suburb.

Information supplied by:


April 2017

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The suburb is quite affordable, with houses going at a median price of $218,000. This is despite considerable growth over recent years. In fact, over the January 2017 quarter, prices increased by nearly 30%. Rental yields are also quite high at an average of over 5%, which benefits investors looking for a long-term investment.Full summary

Dairy town is enlivened by growth

Median house price: $218,000

Three-year growth: 16.58%

Rental yield: 5.37%

Situated in the Goulburn Valley region, the suburb of Tongala is known for the murals that decorate the walls of the town.

The suburb is quite affordable, with houses going at a median price of $218,000. This is despite considerable growth over recent years. In fact, over the January 2017 quarter, prices increased by nearly 30%. Rental yields are also quite high at an average of over 5%, which benefits investors looking for a long-term investment. Those looking to sell can get excellent deals, with the average discount rate clocking in at 3.59%. This is likely because the vacancy rate is remarkably low at 0.72%.

Tongala is mainly supported by the dairy industry, with food processing plants providing jobs. The suburb is sandwiched between Kyabram and Echuca, putting residents within 30 minutes of various restaurants, schools, reserves and recreational facilities.

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Metrics i HOUSE UNIT
$195,000 N/A
5.41% N/A
5.41% N/A
3.21% N/A
$225 N/A
14 N/A
6.00% N/A
N/A N/A

Source: CoreLogic

DSR Score for property investment : Above average (H), Balanced (U)
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Demographics
Total population 1869
Median household income ($/weekly) 834
Median age of persons 40
Median housing loan repayment ($/monthly) 1083
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 270 14.4
    25-34 years 193 10.3
    35-44 years 221 11.8
    45-54 years 223 11.9
    55-64 years 243 13.0
    Others 719 38.5
    Age Group
    Census Count Percent(%)
    Registered Married 622 48.0
    Not Married 522 40.3
    Defacto Relationship 152 11.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 1672 94.4
    New Zealand 7 0.4
    Papua New Guinea 14 0.8
    Philippines 7 0.4
    United Kingdom 46 2.6
    Others 25 1.4
    Country of Birth
    Census Count Percent(%)
    Christianity 1245 73.3
    No Religion 442 26.0
    Buddhism 8 0.5
    Judaism 3 0.2
    Hinduism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 113 18.4
    $600-$799 82 13.3
    $800-$999 72 11.7
    $1,000-$1,249 65 10.6
    $1,500-$1,999 64 10.4
    Others 219 35.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 560 39.6
    Employed, worked full-time 472 33.4
    Employed, worked part-time 265 18.8
    Employed, away from work 66 4.7
    Unemployed, looking for work 50 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 142 17.8
    Technicians & trades workers 111 13.9
    Community & personal service workers 75 9.4
    Machinery operators & drivers 76 9.5
    Labourers 176 22.1
    Others 218 27.3
    Occupation
    Census Count Percent(%)
    Pre-school 22 5.6
    Infants/Primary 171 43.4
    Secondary 133 33.8
    Technical or Further Educational Institution 40 10.2
    University or other Tertiary Institutions 15 3.8
    Others 13 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1617 94.4
    Semi-detached, row or terrace house, townhouse 37 2.2
    Flat, unit or apartment 35 2.0
    Caravan, cabin, houseboat 16 0.9
    House or flat attached to a shop, office 8 0.5
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 278 41.5
    Fully owned 236 35.2
    Rented 148 22.1
    Other tenure type 8 1.2
    Tenure Type
Census 2011, ABS
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Recent sales & rentals