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Essendon
AREA REPORTS

Essendon

Essendon - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3040

house
unit

Property investors have seen a 0% gain in ESSENDON based on an increase 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 $1,600,000

Profits averaged 4.76% 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 $515 based on current median home prices for the suburb.

The gross rental yield in ESSENDON, 3040 is 1.67%.

An average of 12.67 real estate transactions take place per month in ESSENDON which translates to 152 per annum.

Data report can be found below

Essendon
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,600,000 $635,000
GROWTH REPORT
Median Quarterly 0% -3.35%
Median 12 month 6.67% 4.1%
Median 3 years 14.29% 26.43%
Median 5 years 43.82% 16.51%
10 years average annual 5.86% 3.84%
Weekly media advert. rent $515 $375
Time on Market 74.4 days 64.6 days
Gross Rental Yield Percent 1.67% 3.07%
demographics (median values)*
Total Population
25936
Weekly Household Income
1825
Household Size
2.50
Age
37
Monthly Loan Repayment
2167
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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