Suburb Profile Report for Northcote VIC (3070)

Northcote House: Median price $1,311,500, Annual capital growth 6.63%, Number of sales 236, Weekly median advertised rent $650

Northcote Unit: Median price $626,000, Annual capital growth 4.83%, Number of sales 140, Weekly median advertised rent $440

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

Investment property in Northcote has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.02%

Across a shorter period, Northcote, 3070 has seen a median price increase of 0.85% over the last quarter.

The most recent median price for Northcote is $1311500, with sellers offering an average of -5.28% off the asking price.

At number 510 in a list of fastest selling suburbs, Northcote is in the TOP 20% of suburbs in Australia with an average of days on market 52.219 for properties listed there.

Using the current median advertised rental of $650 and the average annual increase in value of a median property of 6.63%, investors should hope to achieve an overall return of 2.58%

At number 103th in the list of Australian suburbs ordered by increase in median house value over the last year, Northcote, 3070 is in the top 10% with a property value increase of 19.24% recorded in median house prices.

Northcote,3070 was ranked 115 in Australia by increase in median property value over the quarter.

Sellers are offering property buyers an average discount of -5.54% to buyers in Northcote at the moment, which is less than average for the rest of VIC.

In the last year 140 properties changed hands in Northcote, which puts it as the 48th most active market in VIC when comparing the number of sales per suburb.

Property investors should expect to get $440 weekly from the median priced house in this suburb.

YIP MAG Information supplied by:

YIP MAG
October 2015

M
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The changing face of Northcote includes a bunch of new restaurants, bars and cafes which helps cater for the professionals that target this area.

No doubt they are also attracted to the fact that it’s located just six kilometres from the Melbourne CBD and has a good range of public transport options including buses, trains and trams.

And despite benefitting from great commercial amenities it is still regarded as a quiet suburb which is also a good spot for families.

They love the range of schools and parks in the suburb, not to mention the strong social fabric. 

Families tend to seek out period homes of three or four bedrooms, while young professionals favour units close to sought-after amenities.

The vacancy rate is a reasonable 2.07%, according to Real Estate Investar.

Two-bedroom apartments on Victoria Rd are close to High St which has some of the suburb’s most trendy cafes, shops and bars.

They can be bought for less than $550,000.
 
Metrics i HOUSE UNIT
$1,311,500 $626,000
0.85% 7.84%
-1.02% 19.24%
6.63% 4.83%
$650 $440
236 140
2.58% 3.65%
52.2189781021898 61.6117647058824

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 22919
Median household income ($/weekly) 1564
Median age of persons 36
Median housing loan repayment ($/monthly) 2013
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 2290 10.0
    25-34 years 4635 20.2
    35-44 years 4328 18.9
    45-54 years 3037 13.3
    55-64 years 1960 8.6
    Others 6670 29.1
    Age Group
    Census Count Percent(%)
    Not Married 8222 47.1
    Registered Married 6573 37.6
    Defacto Relationship 2674 15.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 15797 72.4
    Hong Kong 1189 5.5
    Japan 670 3.1
    United Kingdom 908 4.2
    Other 698 3.2
    Others 2554 11.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 568 2.7
    Christianity 10120 48.7
    Hinduism 198 1.0
    Islam 292 1.4
    No Religion 9333 45.0
    Others 252 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 647 7.9
    $1,500-$1,999 997 12.2
    $2,000-$2,499 844 10.4
    $2,500-$2,999 887 10.9
    $3,000-$3,499 665 8.2
    Others 4104 50.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 7767 42.6
    Not in the labour force 5225 28.6
    Employed, worked part-time 3980 21.8
    Employed, away from work 709 3.9
    Unemployed, looking for work 570 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 1722 13.8
    Professionals 5201 41.8
    Technicians & trades workers 1010 8.1
    Community & personal service workers 1051 8.4
    Clerical & administrative workers 1615 13.0
    Others 1858 14.9
    Occupation
    Census Count Percent(%)
    Pre-school 448 8.3
    Infants/Primary 1527 28.2
    Secondary 961 17.8
    Technical or Further Educational Institution 483 8.9
    University or other Tertiary Institutions 1780 32.9
    Others 215 4.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 14389 66.9
    Semi-detached, row or terrace house, townhouse 3806 17.7
    Flat, unit or apartment 3083 14.3
    House or flat attached to a shop, office 234 1.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 3346 37.7
    Fully owned 2804 31.6
    Being purchased 2698 30.4
    Other tenure type 33 0.4
    Tenure Type
Census 2011, ABS
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