Suburb Profile Report for Greensborough VIC (3088)

Greensborough House: Median price $842,850, Annual capital growth 7.69%, Number of sales 209, Weekly median advertised rent $445

Greensborough Unit: Median price $605,000, Annual capital growth 6.20%, Number of sales 68, Weekly median advertised rent $365

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

Giving property investors a a stable capital gain of 11.12% for the last year, Greensborough, 3088 is the 862th highest performer in Australia in this respect.

Across a shorter period, Greensborough, 3088 has seen a median price increase of 0.76% over the last quarter.

The most recent median price for Greensborough is $842850, with sellers offering an average of -3.96% off the asking price.

On average over the past year, suburb has had 17.42 sales per month, which equates to 209 per year.

A $445 per week rent on the median house gives suburb investors a gross yield of circa 2.75%, without taking into account capital value appreciation, which has been averaging out at 7.69%.

At number 793th in the list of Australian suburbs ordered by increase in median house value over the last year, Greensborough, 3088 is in the top half with a property value increase of 2.98% recorded in median house prices.

Over the longer term, Greensborough has seen property prices show investors a 32.31% return over the last 3 years. This is worse than over the last 12 months

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Greensborough, 3088. Typically our figures indicate that -2.46% is being offered, which puts this VIC suburb at 1356th most discounted overall in Australia.

In the last year 68 properties changed hands in Greensborough, which puts it as the 113th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Greensborough being $605000 and the advertised rent reaching $365 the gross rental yield for property investors calculates out to be 3.14%

Information supplied by:


January 2018

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Originally named Keelbundoora, which is an Aboriginal term for “a round swamp,” Greensborough is a historic suburb that was first established in the 1850s. It is bordered by bushland, and Plenty River runs through itFull summary

Regional hub sees boom in unit demand

Postcode: 3088

Median unit price: $597,000

Three-year growth: 38.2%

Rental yield: 3.1%

Originally named Keelbundoora, which is an Aboriginal term for “a round swamp,” Greensborough is a historic suburb that was first established in the 1850s. It is bordered by bushland, and Plenty River runs through it.

This suburb is characterised by strong growth, with unit prices soaring by nearly 20% in the past 12 months leading up to November 2017. Apartments are selling at low discount rates, suggesting that buyers are definitely seeing potential in this area. This is supported by the fact that units are snapped up within an average of 45 days of being placed on the market.

Greensborough is home to Greensborough Plaza, which is the main shopping hub for the suburbs in Melbourne’s north east. More shops line Main Street. A new aquatic centre has also been constructed. The main offices of the Banyule City Council also moved to Greensborough recently.

Close
Metrics i HOUSE UNIT
$842,850 $605,000
0.76% -0.82%
11.12% 2.98%
7.69% 6.20%
$445 $365
209 68
2.75% 3.14%
41.45 30.38

Source: CoreLogic

DSR Score for property investment : Very good (H), Very good (U)
Find a mortgage broker in Greensborough VIC
Demographics
Total population 20552
Median household income ($/weekly) 1524
Median age of persons 38
Median housing loan repayment ($/monthly) 1837
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 2432 11.8
    25-34 years 2780 13.5
    35-44 years 3012 14.7
    45-54 years 2825 13.7
    55-64 years 2739 13.3
    Others 6763 32.9
    Age Group
    Census Count Percent(%)
    Registered Married 8465 54.7
    Not Married 5844 37.8
    Defacto Relationship 1163 7.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 15981 80.8
    Japan 433 2.2
    Papua New Guinea 218 1.1
    United Kingdom 766 3.9
    Other 537 2.7
    Others 1854 9.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 236 1.2
    Christianity 12962 68.5
    Hinduism 137 0.7
    Islam 170 0.9
    No Religion 5277 27.9
    Others 152 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 575 8.8
    $1,250-$1,499 550 8.4
    $1,500-$1,999 951 14.5
    $2,000-$2,499 816 12.4
    $2,500-$2,999 679 10.4
    Others 2989 45.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 6681 41.4
    Not in the labour force 4883 30.3
    Employed, worked part-time 3529 21.9
    Employed, away from work 644 4.0
    Unemployed, looking for work 403 2.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 1304 12.0
    Professionals 2681 24.7
    Technicians & trades workers 1609 14.8
    Clerical & administrative workers 1873 17.3
    Sales 1153 10.6
    Others 2231 20.6
    Occupation
    Census Count Percent(%)
    Pre-school 426 8.9
    Infants/Primary 1602 33.3
    Secondary 1291 26.9
    Technical or Further Educational Institution 429 8.9
    University or other Tertiary Institutions 859 17.9
    Others 198 4.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 18209 93.3
    Semi-detached, row or terrace house, townhouse 707 3.6
    Flat, unit or apartment 590 3.0
    House or flat attached to a shop, office 14 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 3109 43.7
    Fully owned 2792 39.3
    Rented 1180 16.6
    Other tenure type 27 0.4
    Tenure Type
Census 2011, ABS
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