The post-budget guide to commercial property investing

Essendon West

POSTAL CODE: VIC, 3040
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A steady increase in median property prices over a five-year period in the suburb translates to a 37.15% capital gain.

Property investors in ESSENDON WEST enjoyed capital gains of 0.51% over the last 12 months translating to higher returns compared with its peers in the territory.

The 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 $1,467,500.

Profits due to an upward trend in home prices there averaged 12.38% per annum over a 3-year period.

Home owners selling their properties and realtors in ESSENDON WEST usually have to wait an average of N/A days before their assets are lifted off the market.

Average weekly rents on listings have reached the $850 mark, reflecting a 3.01% increase in returns based on the current median price in ESSENDON WEST.

ESSENDON WEST, 3040 places 483rd in Australia based on median property value growth during the quarter.

Surburb overview

Essendon West is a suburb located approximately 10 kilometres north-west of Melbourne's Central Business District, within the City of Moonee Valley. According to the 2021 census, it has a population of 1,559 residents. 

The suburb is predominantly residential, featuring a range of housing styles from interwar Californian bungalows to post-war dwellings and modern homes. The median property price for a house is currently $1,476,500, with an annual capital growth rate of 23.04%. Rental yields for houses are around 2.93%, with a median weekly rent of $745. 

Public transportation in Essendon West includes several bus routes connecting to neighbouring suburbs and train stations. The nearest train stations are Essendon and Moonee Ponds, providing access to Melbourne's rail network. 

Essential amenities are accessible, with local shopping centres along Buckley Street offering supermarkets, retail stores, and dining options. The area also has several schools, including St Bernard's College, a Catholic boys' secondary school. 

Recreational opportunities are abundant, with the Maribyrnong River providing natural landscapes for walking and cycling. The Afton Street Conservation Reserve offers open spaces and walking trails, catering to various outdoor activities. The suburb is also home to sports clubs, including the Doutta Stars Football Club, which competes in the Essendon District Football League. 

Essendon West offers a suburban lifestyle with access to essential services and recreational facilities, making it a notable suburb within Melbourne's metropolitan area. 

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