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Coolaroo

POSTAL CODE: VIC, 3048
HOUSE

Property investors enjoyed capital gains of 15% over the last 12 months in COOLAROO, translating to lower returns compared with its peers in VIC.

Figures from the previous quarter show that capital gains for real estate buyers in COOLAROO are low, as opposed to average gains per annum over the past five years.

The suburb posted a 17.17% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.

This number can mean, real estate investors could earn a rental income of $480 based on current median home prices for the suburb.

On average, rents on listings have reached the $480 mark, reflecting a 4.02% increase in returns based on the current median price in COOLAROO.

COOLAROO, 3048 ranks 38th in VIC in terms of median property value increase and capital gains, based on year-to-date figures.

While it ranks 163rd on the list of best yielding suburbs for rental properties in VIC, posting a 4.02% return.

Surburb overview

Coolaroo is a suburb within the City of Hume, approximately 18 kilometres north of Melbourne's Central Business District (CBD). According to the 2021 census, it has a population of 3,193. 

The suburb is well-connected by public transportation. Coolaroo railway station on the Craigieburn line provides regular train services to the CBD and surrounding areas. Several bus routes operate within Coolaroo, offering convenient links to neighbouring suburbs and critical destinations. 

Coolaroo features several shopping precincts, notably along Barry Road, offering various retail and dining options. Essential services such as banks, post offices, and supermarkets are available, catering to residents' daily needs. 

The suburb boasts Coolaroo Park for recreational activities, providing sports and leisure activities facilities. The Moonee Ponds Creek Trail runs through the area, offering scenic routes for walking and cycling. Parks and green spaces are abundant, contributing to the suburb's appeal for families and outdoor enthusiasts. 

Coolaroo presents a blend of residential living with convenient access to public transport, essential services, and recreational facilities, making it a well-rounded suburb within Melbourne's northern region. 

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