Property value increases in Tarneit have tracked just higher than the VIC average of 8.62% over the last 12 months.
A 54.06% growth in median value for property investors in Tarneit,3029 puts this suburb at number 184th in terms of best performing suburbs in VIC
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.19% offered to property buyers. Sellers in Tarneit itself are offering an average vendor discount of -3.87% to real estate investors.
With the median price for a house in Tarneit being $550000 and the advertised rent reaching $380 the gross rental yield for property investors calculates out to be 3.59%
At number 475th 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 8.57% recorded in median house prices.
Comparing Tarneit,3029 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
At number 228th of VIC’s most discounted properties, Tarneit is in the TOP 30% of the state/territory when listing in order of most discounted to least.
In the last year 43 properties changed hands in Tarneit, which puts it as the 177th most active market in VIC when comparing the number of sales per 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