Suburb Profile Report for Tongala VIC (3621)

Tongala House: Median price $231,000, Annual capital growth 4.11%, Number of sales 21, Weekly median advertised rent N/A

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report

Tongala, 3621 ranked 580th in VIC when comparing growth in median property values or capital gain over the last 12 months. Tongala is one of 2099 in our list for VIC

Tongala,3621 was ranked 3456 in Australia by increase in median property value over the quarter.

Our latest figures would indicate that property sellers in Tongala are currently offering property investors an average price cut of -5.66% below the asking price at the moment.

Residents and property investors in Tongala have been waiting around 127.938 days to sell a property.

Information supplied by:


April 2017

M
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Dairy town is enlivened by growth

Median house price: $218,000

Three-year growth: 16.58%

Rental yield: 5.37%

Situated in the Goulburn Valley region, the suburb of Tongala is known for the murals that decorate the walls of the town.

The suburb is quite affordable, with houses going at a median price of $218,000. This is despite considerable growth over recent years. In fact, over the January 2017 quarter, prices increased by nearly 30%. Rental yields are also quite high at an average of over 5%, which benefits investors looking for a long-term investment. Those looking to sell can get excellent deals, with the average discount rate clocking in at 3.59%. This is likely because the vacancy rate is remarkably low at 0.72%.

Tongala is mainly supported by the dairy industry, with food processing plants providing jobs. The suburb is sandwiched between Kyabram and Echuca, putting residents within 30 minutes of various restaurants, schools, reserves and recreational facilities.

Metrics i HOUSE UNIT
$231,000 N/A
-3.75% N/A
-11.15% N/A
4.11% N/A
N/A N/A
21 N/A
N/A N/A
127.9375 N/A

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Balanced (U)
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Demographics
Total population 1869
Median household income ($/weekly) 834
Median age of persons 40
Median housing loan repayment ($/monthly) 1083
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 270 14.4
    25-34 years 193 10.3
    35-44 years 221 11.8
    45-54 years 223 11.9
    55-64 years 243 13.0
    Others 719 38.5
    Age Group
    Census Count Percent(%)
    Registered Married 622 48.0
    Not Married 522 40.3
    Defacto Relationship 152 11.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 1672 94.4
    New Zealand 7 0.4
    Papua New Guinea 14 0.8
    Philippines 7 0.4
    United Kingdom 46 2.6
    Others 25 1.4
    Country of Birth
    Census Count Percent(%)
    Christianity 1245 73.3
    No Religion 442 26.0
    Buddhism 8 0.5
    Judaism 3 0.2
    Hinduism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 113 18.4
    $600-$799 82 13.3
    $800-$999 72 11.7
    $1,000-$1,249 65 10.6
    $1,500-$1,999 64 10.4
    Others 219 35.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 560 39.6
    Employed, worked full-time 472 33.4
    Employed, worked part-time 265 18.8
    Employed, away from work 66 4.7
    Unemployed, looking for work 50 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 142 17.8
    Technicians & trades workers 111 13.9
    Community & personal service workers 75 9.4
    Machinery operators & drivers 76 9.5
    Labourers 176 22.1
    Others 218 27.3
    Occupation
    Census Count Percent(%)
    Pre-school 22 5.6
    Infants/Primary 171 43.4
    Secondary 133 33.8
    Technical or Further Educational Institution 40 10.2
    University or other Tertiary Institutions 15 3.8
    Others 13 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1617 94.4
    Semi-detached, row or terrace house, townhouse 37 2.2
    Flat, unit or apartment 35 2.0
    Caravan, cabin, houseboat 16 0.9
    House or flat attached to a shop, office 8 0.5
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 278 41.5
    Fully owned 236 35.2
    Rented 148 22.1
    Other tenure type 8 1.2
    Tenure Type
Census 2011, ABS
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