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Essendon West
AREA REPORTS

Essendon West

Essendon West - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3040

house
unit

A steady increase in median property prices over a five-year period in the suburb translates to a 13.93% capital gain.

Property investors in ESSENDON WEST enjoyed capital gains of 7.96% over the last 12 months translating to lower 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 $1,390,000.

Profits due to an upward trend in home prices there averaged 4.64% per annum over a 3-year period.

Home owners selling their properties and realtors in ESSENDON WEST usually have to wait an average of 0.0 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $510 mark, reflecting a 1.91% increase in returns based on the current median price in ESSENDON WEST.

ESSENDON WEST, 3040 places 187th in Australia based on median property value growth during the quarter.

Data report can be found below

Essendon West
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,390,000 $901,000
GROWTH REPORT
Median Quarterly 6.31% 1.18%
Median 12 month 7.96% N/A
Median 3 years 13.93% N/A
Median 5 years 50.47% N/A
10 years average annual 6.99% N/A
Weekly media advert. rent $510 $400
Time on Market 0.0 days 0.0 days
Gross Rental Yield Percent 1.91% 2.31%
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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