Suburb Profile Report for Bundoora VIC (3083)

Bundoora House: Median price $740,000, Annual capital growth 7.10%, Number of sales 275, Weekly median advertised rent $420

Bundoora Unit: Median price $430,500, Annual capital growth 3.60%, Number of sales 173, Weekly median advertised rent $360

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

Property value increases in Bundoora have tracked just lower than the VIC average of 8.62% over the last 12 months.

Comparing Bundoora,3083 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Our latest figures would indicate that property sellers in Bundoora are currently offering property investors an average price cut of -4.98% below the asking price at the moment.

A $420 per week rent on the median house gives suburb investors a gross yield of circa 2.95%, without taking into account capital value appreciation, which has been averaging out at 7.10%.

At number 562th in the list of Australian suburbs ordered by increase in median house value over the last year, Bundoora, 3083 is in the top 40% with a property value increase of 6.88% recorded in median house prices.

The five-year average increase in median property values for Bundoora,3083 has given property investors a potential capital gain of 5.00% across each of those five years.

Bundoora, 3083 is offering VIC ‘s 85th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this VIC.

On average over the past year, suburb has had 14.42 sales per month, which equates to 173 per year.

Using the current median advertised rental of $360 and the average annual increase in value of a median property of 3.60%, investors should hope to achieve an overall return of 4.35%

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July 2018

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The large suburb of Bundoora, around 18km from Melbourne’s city centre, experienced an interesting year in terms of property supply, with unit stock falling while housing stick increasedFull summary

Apartment supply falls

Postcode: 3083

Median unit price: $433,000

Stock on market: 0.7%

12-month growth: 9.6%

The large suburb of Bundoora, around 18km from Melbourne’s city centre, experienced an interesting year in terms of property supply, with unit stock falling while housing stick increased.

The number of units dropped from 80 to 62 between April 2017 and 2018, while that of houses went from 68 to 87. Even then, the apartment market continues to record growth, with values going up by nearly 10% in this period. The median price remains affordable at under $450,000, which could drive further interest.

Investors seeking a steady stream of potential tenants may find this suburb appealing, as campuses of La Trobe University and RMIT are situated here, as are many other primary and secondary schools, making it a popular suburb with student residents and families. The La Trobe University bus link also facilitates travel throughout Melbourne.

Close
Metrics i HOUSE UNIT
$740,000 $430,500
-1.33% -1.94%
4.96% 6.88%
7.10% 3.60%
$420 $360
275 173
2.95% 4.35%
55.43 76.58

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Bundoora VIC
Demographics
Total population 25709
Median household income ($/weekly) 1225
Median age of persons 35
Median housing loan repayment ($/monthly) 1810
Average household size 2.8
  • Census Count Percent(%)
    20-24 years 3130 12.2
    25-34 years 3596 14.0
    35-44 years 3530 13.7
    45-54 years 3100 12.1
    55-64 years 2837 11.0
    Others 9516 37.0
    Age Group
    Census Count Percent(%)
    Registered Married 9844 52.0
    Not Married 8154 43.0
    Defacto Relationship 945 5.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 15072 62.1
    Croatia 1824 7.5
    Indonesia 602 2.5
    Japan 763 3.1
    Other 1250 5.2
    Others 4752 19.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 1027 4.4
    Christianity 15810 67.0
    Hinduism 685 2.9
    Islam 1003 4.2
    No Religion 4860 20.6
    Others 220 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 763 10.2
    $600-$799 691 9.2
    $800-$999 691 9.2
    $1,500-$1,999 1028 13.7
    $2,000-$2,499 750 10.0
    Others 3569 47.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 7901 38.7
    Employed, worked full-time 7070 34.6
    Employed, worked part-time 3773 18.5
    Unemployed, looking for work 891 4.4
    Employed, away from work 778 3.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 1256 10.8
    Professionals 2446 21.1
    Technicians & trades workers 1576 13.6
    Clerical & administrative workers 1943 16.7
    Sales 1301 11.2
    Others 3094 26.6
    Occupation
    Census Count Percent(%)
    Pre-school 407 5.6
    Infants/Primary 1684 23.0
    Secondary 1429 19.5
    Technical or Further Educational Institution 463 6.3
    University or other Tertiary Institutions 3104 42.4
    Others 230 3.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 21068 91.0
    Flat, unit or apartment 1054 4.6
    Semi-detached, row or terrace house, townhouse 1034 4.5
    House or flat attached to a shop, office 6 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 3351 41.3
    Being purchased 2953 36.4
    Rented 1743 21.5
    Other tenure type 74 0.9
    Tenure Type
Census 2011, ABS
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Recent sales & rentals