Tarneit, 3029 ranked 569th in VIC when comparing growth in median property values or capital gain over the last 12 months. Tarneit is one of 2099 in our list for VIC
A 40.66% growth in median value for property investors in Tarneit,3029 puts this suburb at number 531th in terms of best performing suburbs in VIC
Property investors looking for a bargain in Tarneit should be aiming for at least -6.51% off the asking price, which is the average vendor discount being achieved at the moment.
In the last year 692 properties changed hands in Tarneit, which puts it as the 4th most active market in VIC when comparing the number of sales per suburb.
Situated 26.02km from the CBD, Tarneit is one of Wyndham (C) localities in the postcode 3029.
VIC has seen average median house prices change by 7.35% which means that Tarneit, 3029 has done well for property investors by showing a capital gain of -3.35% over the last year
The five-year average increase in median property values for Tarneit,3029 has given property investors a potential capital gain of 31.86% across each of those five years.
The most recent median price for Tarneit is $389000, with sellers offering an average of -6.88% off the asking price.
Property investors should expect to get $350 weekly from the median priced house in this suburb.
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Wyndham City suburb is tight
Median unit price: $365,000
Vacancy rate: 1.7%
Three-year growth: 19.7%
A rapidly growing suburb 7km from Werribee, Tarneit’s falling vacancy rate is representing its new popularity.
The average vacancy rate slipped from an already-low 1.8% to just 1.7% in the past 12 months leading up to November 2017. This could be due in part to the suburb’s affordability – apartments sell for a median price of $365,000. Moreover, it has strong growth potential, with much positive growth over the most recent five-year period. Rental yields are also reasonable at 4.6%.
Once mainly an agricultural area, Tarneit has been undergoing gentrification. It is the site of several schools, including Thomas Carr College, Baden Powell Prep and the Islamic College of Melbourne. Tarneit Central Shopping Centre was recently opened, and contains a supermarket.