Suburb Profile Report for Coburg North VIC (3058)

Coburg North House: Median price $790,000, Annual capital growth 6.89%, Number of sales 101, Weekly median advertised rent $500

Coburg North Unit: Median price $660,000, Annual capital growth 7.17%, Number of sales 17, Weekly median advertised rent $420

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

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.

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VIC has seen average median house prices change by 3.76% which means that Coburg North, 3058 has done well for property investors by showing a capital gain of -0.88% over the last year

Across a shorter period, Coburg North, 3058 has seen a median price increase of -4.46% over the last quarter.

Our latest figures would indicate that property sellers in Coburg North are currently offering property investors an average price cut of -5.02% below the asking price at the moment.

Often selling an investment property can take time, and in Coburg North the average time real estate has been on the market is 50.2 days.

With the median price for a house in Coburg North being $793000 and the advertised rent reaching $500 the gross rental yield for property investors calculates out to be 3.28%

Over the last year, property investments in Coburg North, 3058 have given investors a capital gain of 14.86%. This compares very favourably with the 2.97% for VIC as a whole.

Over the longer term, Coburg North has seen property prices show investors a 14.86% return over the last 3 years. This is the same as over the last 12 months

At number 357 in a list of fastest selling suburbs, Coburg North is in the TOP 30% of suburbs in Australia with an average of days on market 52.61 for properties listed there.

Situated 9.87km from the CBD, Coburg North is one of Moreland (C) localities in the postcode 3058.

YIP MAG Information supplied by:

YIP MAG
December 2015

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Coburg North’s relative affordability for a suburb in Melbourne’s middle ring could see it take off soon.

While the median house price in the suburb has risen by 27% over the past three years, it is still relatively affordable around the low $600,000 mark.

That affordability is being noticed too, with the average time a house spends on the market being 46 days, which is lower than many surrounding suburbs.

On the amenity side of things, Coburg North has a fair bit going for it.

The Batman and Merlynston train stations are located within the suburb, while Sydney Rd provides an easy drive into the centre of Melbourne.

Charles St, in the suburb’s south, is a growing shopping area, while Batman Market attracts many to the area.

There are also two private hospitals nearby, while the Fawkner Police Station is just north of Coburg North.
Metrics i HOUSE UNIT
$790,000 $660,000
-3.30% 10.46%
-2.47% 23.36%
6.89% 7.17%
$500 $420
101 17
3.29% 3.31%
53.864864 41.692307

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), Good (U)
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Demographics
Total population 6575
Median household income ($/weekly) 1067
Median age of persons 38
Median housing loan repayment ($/monthly) 1950
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 656 10.0
    25-34 years 1053 16.0
    35-44 years 1111 16.9
    45-54 years 797 12.1
    55-64 years 562 8.5
    Others 2395 36.4
    Age Group
    Census Count Percent(%)
    Not Married 2251 45.9
    Registered Married 2185 44.5
    Defacto Relationship 473 9.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 3747 61.6
    Hong Kong 195 3.2
    Indonesia 166 2.7
    Japan 479 7.9
    Other 400 6.6
    Others 1093 18.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 165 2.8
    Christianity 3592 60.4
    Hinduism 150 2.5
    Islam 534 9.0
    No Religion 1415 23.8
    Others 94 1.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 256 11.9
    $600-$799 215 10.0
    $1,000-$1,249 201 9.3
    $1,500-$1,999 261 12.1
    $2,000-$2,499 209 9.7
    Others 1008 46.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2044 40.3
    Employed, worked full-time 1719 33.9
    Employed, worked part-time 974 19.2
    Unemployed, looking for work 180 3.6
    Employed, away from work 149 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 308 10.8
    Professionals 701 24.6
    Technicians & trades workers 395 13.9
    Clerical & administrative workers 432 15.2
    Labourers 270 9.5
    Others 741 26.0
    Occupation
    Census Count Percent(%)
    Pre-school 95 6.8
    Infants/Primary 418 29.8
    Secondary 278 19.8
    Technical or Further Educational Institution 184 13.1
    University or other Tertiary Institutions 343 24.4
    Others 86 6.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4915 81.7
    Semi-detached, row or terrace house, townhouse 613 10.2
    Flat, unit or apartment 451 7.5
    House or flat attached to a shop, office 24 0.4
    Caravan, cabin, houseboat 11 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 911 39.3
    Rented 700 30.2
    Being purchased 695 30.0
    Other tenure type 11 0.5
    Tenure Type
Census 2011, ABS
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