At number 1165th in the list of Australian suburbs ordered by increase in median house value over the last year, Tarneit, 3029 is in the top 30% with a property value increase of 5.85% recorded in median house prices.
If we look at median property appreciation over just the last three months, Tarneit has given property investors a paper return of -0.71%. This puts Suburb as 380 on a list of fastest fasting appreciating suburbs in VIC
Tarneit3029 is located in VIC which offers an average discount of -6.14% to property investors. Tarneit itself is showing figures that indicate -7.29% is the average achievable by property buyers investing in the suburb.
Residents and property investors in Tarneit have been waiting around 60.4496 days to sell a property.
Property investors should expect to get $390 weekly from the median priced house in this suburb.
VIC has seen average median house prices change by 1.93% which means that Tarneit, 3029 has done well for property investors by showing a capital gain of 2.27% over the last year
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Tarneit has increased when compared to the 5 year average annual rate.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.69% offered to property buyers. Sellers in Tarneit itself are offering an average vendor discount of -7.43% to real estate investors.
Situated 25.62km from the CBD, Tarneit is one of Wyndham (C) localities in the postcode 3029.
Information supplied by:
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.