Suburb Profile Report for Truganina VIC (3029)

Truganina House: Median price $541,000, Annual capital growth 6.87%, Number of sales 374, Weekly median advertised rent $390

Truganina Unit: Median price $383,250, Annual capital growth 5.23%, Number of sales 42, Weekly median advertised rent $345

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

With a capital gain of 22.40% for the last 12 months, Truganina, 3029 has performed for property investments than its average annual 6.87% property growth over the last 5 years.

Comparing Truganina,3029 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

LACK OF BUYER INTEREST may well be the reason that Truganina is offering property investors an average of -5.08. This rate of discount on properties puts Suburb at number 406th in terms of most discounted suburbs in VIC

At number 934 in a list of fastest selling suburbs, Truganina is in the TOP 30% of suburbs in Australia with an average of days on market 52.98 for properties listed there.

Property investors who have had real estate in Truganina, 3029 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 9.50%

Across a shorter period, Truganina, 3029 has seen a median price increase of 0.00% over the last quarter.

Property buyers and investors in Truganina 3029 should be seeing an average reduction in asking price of around -3.65% . This means that Truganina is holding prices well when compared to other suburbs in VIC.

Truganina, 3029’s gross rental yield is 4.68%

Information supplied by:


February 2018

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A rural-urban suburb that is seeing remarkable growth, Truganina is fast becoming popular among buyersFull summary

Houses are in low supply

Postcode: 3029

Median house price: $490,000

Stock on market: -27.0%

12-month growth: 19.5%

A rural-urban suburb that is seeing remarkable growth, Truganina is fast becoming popular among buyers.

The number of houses in the area fell by over 100 in the 12 months leading up to November 2017. This has been accompanied by a drop in vacancy rate from 2.3% to 1.9%, indicating that the fall in supply has heightened competition for vacant homes. On the flip side, however, the number of units went up from just 5 in 2016 to 16 in 2017.

A factor in Truganina’s popularity could be because of its affordability – the median house value is under $500,000, and the suburb recorded a 19.5% boost in prices over this period. Another contributor is Truganina being well-stocked in amenities and being a transport hub.

 

Close
Metrics i HOUSE UNIT
$541,000 $383,250
3.94% 0.00%
22.40% 9.50%
6.87% 5.23%
$390 $345
374 42
3.75% 4.68%
52.98 44.96

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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Demographics
Total population 9138
Median household income ($/weekly) 1451
Median age of persons 28
Median housing loan repayment ($/monthly) 1950
Average household size 3.1
  • Census Count Percent(%)
    0-4 years 1115 12.2
    5-14 years 1239 13.6
    25-34 years 2681 29.3
    35-44 years 1548 16.9
    45-54 years 793 8.7
    Others 1762 19.3
    Age Group
    Census Count Percent(%)
    Registered Married 2853 50.5
    Not Married 2099 37.2
    Defacto Relationship 693 12.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 4582 52.9
    Indonesia 890 10.3
    Papua New Guinea 535 6.2
    Philippines 343 4.0
    Other 1092 12.6
    Others 1225 14.1
    Country of Birth
    Census Count Percent(%)
    Christianity 3761 49.2
    Hinduism 668 8.7
    Islam 1289 16.9
    Other Religious Groups 277 3.6
    No Religion 1385 18.1
    Others 269 3.5
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 208 8.8
    $1,000-$1,249 283 12.0
    $1,250-$1,499 241 10.2
    $1,500-$1,999 423 17.9
    $2,000-$2,499 337 14.2
    Others 874 36.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2857 44.2
    Not in the labour force 2183 33.7
    Employed, worked part-time 855 13.2
    Unemployed, looking for work 333 5.1
    Employed, away from work 243 3.8
    Person Characteristics
  • Census Count Percent(%)
    Professionals 717 18.1
    Technicians & trades workers 512 12.9
    Clerical & administrative workers 647 16.4
    Machinery operators & drivers 504 12.7
    Labourers 411 10.4
    Others 1163 29.4
    Occupation
    Census Count Percent(%)
    Pre-school 194 9.8
    Infants/Primary 769 38.9
    Secondary 443 22.4
    Technical or Further Educational Institution 166 8.4
    University or other Tertiary Institutions 285 14.4
    Others 120 6.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7277 90.8
    Flat, unit or apartment 436 5.4
    Semi-detached, row or terrace house, townhouse 298 3.7
    House or flat attached to a shop, office 5 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1492 59.0
    Rented 890 35.2
    Fully owned 136 5.4
    Other tenure type 12 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals