Suburb Profile Report for Greensborough VIC (3088)

Greensborough House: Median price $792,000, Annual capital growth 7.04%, Number of sales 238, Weekly median advertised rent $480

Greensborough Unit: Median price $552,000, Annual capital growth 5.05%, Number of sales 52, Weekly median advertised rent $400

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

Source: Monthly data update for May 2019 as supplied by CoreLogic. Data is reported to the period ending Feb 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

With a capital gain of -2.20% for the last 12 months, Greensborough, 3088 has performed for property investments than its average annual 7.26% property growth over the last 5 years.

The five-year average increase in median property values for Greensborough,3088 has given property investors a potential capital gain of 50.94% across each of those five years.

Greensborough3088 is located in VIC which offers an average discount of -5.61% to property investors. Greensborough itself is showing figures that indicate -5.95% is the average achievable by property buyers investing in the suburb.

Property investors should expect to get $460 weekly from the median priced house in this suburb.

At number 1258th in the list of Australian suburbs ordered by increase in median house value over the last year, Greensborough, 3088 is in the BOTTOM 30% with a property value increase of -7.44% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, Greensborough comes in at number 142th in VIC.

Sellers are offering property buyers an average discount of -3.30% to buyers in Greensborough at the moment, which is less than average for the rest of VIC.

Property investors should expect to get $385 weekly from the median priced house in this suburb.

Information supplied by:


January 2018

M
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W
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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.

Metrics i HOUSE UNIT
$792,000 $552,000
-2.52% -5.07%
-4.86% -9.50%
7.04% 5.05%
$480 $400
238 52
3.15% 3.77%
44.339622 37.57895

Source: Monthly data update for May 2019 as supplied by CoreLogic. Data is reported to the period ending Feb 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Very good (U)
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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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