Suburb Profile
Essendon - FREE SUBURB PROFILE REPORT POSTAL CODE: VIC,3040
Property investors have seen a -0.37% drop in ESSENDON based on a decrease in median home prices for the past three months.
Based on its average 5-year and quarterly capital gains ESSENDON, 3040 saw average growth in the long term.
The VIC suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $1,355,000
Profits averaged 15.1% per annum over a 3-year period, due to an upward trend in home prices in ESSENDON, 3040.
This means, real estate investors could earn a rental income of $495 based on current median home prices for the suburb.
The gross rental yield in ESSENDON, 3040 is 1.9%.
An average of 16.83 real estate transactions take place per month in ESSENDON which translates to 202 per annum.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,355,000 | $490,500 |
| GROWTH REPORT | ||
| Median Quarterly | -0.37% | 1.13% |
| Median 12 month | 2.85% | 2.19% |
| Median 3 years | 45.31% | 4.36% |
| Median 5 years | 59.41% | 15.28% |
| 10 years average annual | 6.79% | 4.42% |
| Weekly media advert. rent | $495 | $360 |
| Time on Market | 54.9 days | 73.5 days |
| Gross Rental Yield Percent | 1.9% | 3.82% |
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