VIC/
North melbourne

Suburb Profile

North Melbourne - FREE SUBURB PROFILE REPORT
POSTAL CODE: VIC,3051

house
unit

Property investments in NORTH MELBOURNE did not fare well against the rest of the country last year, registering a median home price decrease of 15.74%.

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

Based on its average 5-year and quarterly capital gains NORTH MELBOURNE, 3051 saw average growth in the long term.

Real estate investors could earn a rental income of $570 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 57.1 days.

Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $1,169,000.

NORTH MELBOURNE ranks 459th on the list of best yielding suburbs for rental properties in VIC, posting a 2.54% return.

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,169,000 $503,000
GROWTH REPORT
Median Quarterly -1.1% -4.82%
Median 12 month 15.74% -7.28%
Median 3 years 52.81% -1.45%
Median 5 years 71.91% 27.13%
10 years average annual 8.3% 4.76%
Weekly media advert. rent $570 $420
Time on Market 57.1 days 82.2 days
Gross Rental Yield Percent 2.54% 4.34%
demographics (median values)
Total Population
9964
Weekly Household Income
870.3
Household Size
2.10
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