Suburb Profile Report for Coburg North VIC (3058)

Coburg North House: Median price $826,000, Annual capital growth 7.59%, Number of sales 108, Weekly median advertised rent $480

Coburg North Unit: Median price $560,000, Annual capital growth 5.78%, Number of sales 33, Weekly median advertised rent $425

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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At number 1567th in the list of Australian suburbs ordered by increase in median house value over the last year, Coburg North, 3058 is in the top 40% with a property value increase of 5.76% recorded in median house prices.

Coburg North,3058 was ranked 3598 in Australia by increase in median property value over the quarter.

Our latest figures would indicate that property sellers in Coburg North are currently offering property investors an average price cut of -1.88% 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 49.6 days.

A $480 per week rent on the median house gives suburb investors a gross yield of circa 3.02%, without taking into account capital value appreciation, which has been averaging out at 7.59%.

Property investors who have had real estate in Coburg North, 3058 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 5.25%

If we look at median property appreciation over just the last three months, Coburg North has given property investors a paper return of 1.82%. This puts Suburb as 94 on a list of fastest fasting appreciating suburbs in VIC

Property investors looking for a bargain in Coburg North should be aiming for at least -9.09% off the asking price, which is the average vendor discount being achieved at the moment.

At number 700 in a list of fastest selling suburbs, Coburg North is just in the top half of suburbs in Australia with an average of days on market 65.2 for properties listed there.

Property investors should expect to get $425 weekly from the median priced house in this suburb.

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.Full summary 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.Close
Metrics i HOUSE UNIT
$826,000 $560,000
-2.59% 1.82%
5.76% 5.25%
7.59% 5.78%
$480 $425
108 33
3.02% 3.95%
49.6 65.2

Source: CoreLogic

DSR Score for property investment : 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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