Suburb Profile Report for Truganina VIC (3029)

Truganina House: Median price $560,000, Annual capital growth 7.16%, Number of sales 313, Weekly median advertised rent $390

Truganina Unit: Median price $392,500, Annual capital growth 5.55%, Number of sales 37, Weekly median advertised rent $350

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

Truganina, 3029 ranked 106th in VIC when comparing growth in median property values or capital gain over the last 12 months. Truganina is one of 2098 in our list for VIC

While Truganina,3029 ranked number 188th in VIC for increase in median house value (annualised) increase, it is ranked 276th over the last 5 years.

Property buyers and investors in Truganina 3029 should be seeing an average reduction in asking price of around -4.28% . This means that Truganina is holding prices well when compared to other suburbs in VIC.

Advertised rents are around the $390 mark per week – giving a return of 3.62% based on the median price in Suburb

Over the last year, property investments in Truganina, 3029 have given investors a capital gain of 10.56%. This compares favourably with the 7.50% for VIC as a whole.

Truganina,3029 has offered an average of 10.56% return per annum in house price rises to property investors over the last three years.

Property buyers and investors in Truganina 3029 should be seeing an average reduction in asking price of around -3.93% . This means that Truganina is holding prices well when compared to other suburbs in VIC.

Using the current median advertised rental of $350 and the average annual increase in value of a median property of 5.55%, investors should hope to achieve an overall return of 4.64%

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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
$560,000 $392,500
2.75% 1.95%
18.71% 10.56%
7.16% 5.55%
$390 $350
313 37
3.62% 4.64%
50.54 48.39

Source: CoreLogic

DSR Score for property investment : Above average (H), Good (U)
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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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