Suburb Profile Report for Tarneit VIC (3029)

Tarneit House: Median price $510,000, Annual capital growth 5.92%, Number of sales 703, Weekly median advertised rent $370

Tarneit Unit: Median price $365,000, Annual capital growth 4.81%, Number of sales 43, Weekly median advertised rent $325

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Tarneit have tracked just higher than the VIC average of 11.63% over the last 12 months.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Tarneit has increased when compared to the 5 year average annual rate.

Our latest figures would indicate that property sellers in Tarneit are currently offering property investors an average price cut of -3.81% below the asking price at the moment.

Property investors should expect to get $370 weekly from the median priced house in this suburb.

Tarneit, 3029 ranked 83th in VIC when comparing growth in median property values or capital gain over the last 12 months. Tarneit is one of 2098 in our list for VIC

Taking the average capital gain, or increase in median house value, Tarneit,3029 has racked up an average of 14.60% over the period. This ranks it number 702th in the whole country for real estate investors looking at median house price increases.

Sellers are offering property buyers an average discount of -3.48% to buyers in Tarneit at the moment, which is less than average for the rest of VIC.

Tarneit, 3029’s gross rental yield is 4.63%

Metrics i HOUSE UNIT
$510,000 $365,000
2.72% 4.43%
14.99% 14.60%
5.92% 4.81%
$370 $325
703 43
3.77% 4.63%
44.47 83.03

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 21690
Median household income ($/weekly) 1563
Median age of persons 29
Median housing loan repayment ($/monthly) 2000
Average household size 3.1
  • Census Count Percent(%)
    0-4 years 2463 11.4
    5-14 years 3389 15.6
    25-34 years 5050 23.3
    35-44 years 3741 17.2
    45-54 years 2084 9.6
    Others 4963 22.9
    Age Group
    Census Count Percent(%)
    Registered Married 8071 54.8
    Not Married 5094 34.6
    Defacto Relationship 1572 10.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 11852 58.0
    Indonesia 1704 8.3
    Papua New Guinea 1017 5.0
    Philippines 969 4.7
    Other 1787 8.7
    Others 3103 15.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 627 3.2
    Christianity 12076 60.8
    Hinduism 1535 7.7
    Islam 1654 8.3
    No Religion 3521 17.7
    Others 443 2.2
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 621 10.2
    $1,250-$1,499 648 10.6
    $1,500-$1,999 1157 19.0
    $2,000-$2,499 918 15.1
    $2,500-$2,999 557 9.1
    Others 2189 35.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 7448 49.9
    Not in the labour force 3677 24.6
    Employed, worked part-time 2518 16.9
    Unemployed, looking for work 700 4.7
    Employed, away from work 587 3.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 1005 9.5
    Professionals 1786 16.9
    Technicians & trades workers 1507 14.3
    Clerical & administrative workers 1885 17.9
    Machinery operators & drivers 1152 10.9
    Others 3215 30.5
    Occupation
    Census Count Percent(%)
    Pre-school 468 8.5
    Infants/Primary 2194 39.9
    Secondary 1401 25.5
    Technical or Further Educational Institution 437 7.9
    University or other Tertiary Institutions 741 13.5
    Others 258 4.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 19745 95.9
    Semi-detached, row or terrace house, townhouse 766 3.7
    Flat, unit or apartment 65 0.3
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 3903 59.4
    Rented 1848 28.1
    Fully owned 750 11.4
    Other tenure type 71 1.1
    Tenure Type
Census 2011, ABS
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