Investment property in Tarneit has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.79%
Tarneit,3029 has offered an average of -1.79% return per annum in house price rises to property investors over the last three years.
Tarneit3029 is located in VIC which offers an average discount of -6.51% to property investors. Tarneit itself is showing figures that indicate -6.44% is the average achievable by property buyers investing in the suburb.
Renters in Suburb are facing rents around $20800 per annum or $400 every week.
Property value increases in Tarneit have tracked just lower than the VIC average of 6.11% over the last 12 months.
If we look at median property appreciation over just the last three months, Tarneit has given property investors a paper return of 0.00%. This puts Suburb as 238 on a list of fastest fasting appreciating suburbs in VIC
The most recent median price for Tarneit is $388000, with sellers offering an average of -6.92% off the asking price.
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Wyndham City suburb is tight
Median unit price: $365,000
Vacancy rate: 1.7%
Three-year growth: 19.7%
A rapidly growing suburb 7km from Werribee, Tarneit’s falling vacancy rate is representing its new popularity.
The average vacancy rate slipped from an already-low 1.8% to just 1.7% in the past 12 months leading up to November 2017. This could be due in part to the suburb’s affordability – apartments sell for a median price of $365,000. Moreover, it has strong growth potential, with much positive growth over the most recent five-year period. Rental yields are also reasonable at 4.6%.
Once mainly an agricultural area, Tarneit has been undergoing gentrification. It is the site of several schools, including Thomas Carr College, Baden Powell Prep and the Islamic College of Melbourne. Tarneit Central Shopping Centre was recently opened, and contains a supermarket.