Suburb Profile Report for Tongala VIC (3621)

Tongala House: Median price $168,750, Annual capital growth 1.41%, Number of sales 16, Weekly median advertised rent $225

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

Source: CoreLogic

  • House Report
  • Expert Report

With a capital gain of 2.27% for the last 12 months, Tongala, 3621 has performed for property investments than its average annual 1.41% property growth over the last 5 years.

Tongala,3621 has offered an average of 2.27% return per annum in house price rises to property investors over the last three years.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.91% offered to property buyers. Sellers in Tongala itself are offering an average vendor discount of -3.75% to real estate investors.

At number 2290 in a list of fastest selling suburbs, Tongala is in the bottom 40% of suburbs in Australia with an average of days on market 90.9 for properties listed there.

The VIC suburb of Tongala, 3621 is in the Campaspe local government area.

Information supplied by:


April 2017

M
O

W
E
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.

Close
Metrics i HOUSE UNIT
$168,750 N/A
-11.18% N/A
2.27% N/A
1.41% N/A
$225 N/A
16 N/A
6.93% N/A
90.9 N/A

Source: CoreLogic

DSR Score for property investment : Above average (H), Balanced (U)
Find a mortgage broker in Tongala VIC
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
Chart Table
Recent sales & rentals