If you compare the increase in value of investment property in Tarneit, 3029 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 11.88%.
If we look at median property appreciation over just the last three months, Tarneit has given property investors a paper return of 2.73%. This puts Suburb as 164 on a list of fastest fasting appreciating suburbs in VIC
Vendor discounting in Tarneit is giving property investors an average Vendor Discount of around -6.25%. This puts suburb at number 268th in VIC when ranking the most discounted suburbs.
A $390 per week rent on the median house gives suburb investors a gross yield of circa 3.59%, without taking into account capital value appreciation, which has been averaging out at 6.68%.
Investment property in Tarneit has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 5.33%
Tarneit,3029 was ranked 503 in Australia by increase in median property value over the quarter.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.51% offered to property buyers. Sellers in Tarneit itself are offering an average vendor discount of -9.97% to real estate investors.
Often selling an investment property can take time, and in Tarneit the average time real estate has been on the market is 66.5 days.
Property investors should expect to get $340 weekly from the median priced house in this suburb.
A rapidly growing suburb 7km from Werribee, Tarneit’s falling vacancy rate is representing its new popularityFull summary
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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.Close