Fawkner

POSTAL CODE: VIC, 3060

HOUSE

UNIT

FAWKNER, 3060 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in VIC have risen as a whole, pulling FAWKNER, 3060 values up and netting property investors a capital gain of 6.41% for the past year.

Investors saw the median home price rise to $830,000.

Profits due to an upward trend in home prices in the suburb averaged 2.37% per annum over a 3-year period.

FAWKNER now ranks at the 260th place on a list of fastest growing suburbs in the territory.

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

Because of this real estate investors could earn a rental income of $570 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In FAWKNER, homes and units usually stay on listing for an average of 49.2 days.

In 2016, 236 properties were sold in FAWKNER during the past year, making it the 426th most active market in VIC based on total real estate transactions.

FAWKNER ranks 26th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.

FAWKNER, 3060 has a capital gain of 11.04% for the past year, which is higher than average compared to its 20.47% growth within a five-year period.

With the median home price in FAWKNER sitting at $638,500, and the average rent at $510, property owners could potentially earn a 4.15% increase in gross rental yield.

Property investors have seen a 4.12% gain in FAWKNER based on an increase in median home prices for the past three months.

Homeowners and real estate investors betting on FAWKNER, 3060 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 11.04%.

A survey of average capital gains or median home price increase in suburbs across the country shows that FAWKNER, 3060 obtained a 5.78% growth over a ten-year period. It ranks 758th on our list of suburbs that property investors should look into.

Surburb overview

Fawkner, located approximately 12 kilometres north of Melbourne's Central Business District, is a suburb within the Cities of Hume and Merri-bek in Victoria. As of the 2021 census, it had 14,274 residents.

The suburb exhibits a diverse demographic profile. Approximately 45.2% of residents were born in Australia, with significant communities originating from Italy (9.7%) and Pakistan (8.9%). Languages commonly spoken at home include English (31.1%), Italian (13.8%), Urdu (12.4%), and Arabic (9.2%). Catholicism (33.5%) and Islam (31.9%) are the predominant religions.

The Upfield railway line facilitates Public transportation in Fawkner, with Gowrie station providing access to Melbourne's city centre. Additionally, several bus routes service the area, enhancing connectivity to neighbouring suburbs.

Essential amenities are readily available in Fawkner. The Bonwick Street shopping strip offers a variety of retail stores, eateries, and services, reflecting the suburb's cultural diversity. There are several educational institutions in Fawkner, including Fawkner Primary School, Moomba Park Primary School, and Fawkner Secondary College.

Recreational opportunities abound, with ample green spaces and facilities. Charles Mutton Reserve, Moomba Park, and CB Smith Reserve are popular spots for community sports like soccer and cricket. The Merri Creek Trail provides scenic paths for walking and cycling.

In terms of housing, Fawkner offers a mix of property styles, from period homes to contemporary townhouses, often with spacious yards. This variety caters to families, young professionals, and retirees seeking a quieter lifestyle within reach of Melbourne's attractions.

Fawkner combines suburban tranquillity with urban convenience, making it a notable suburb in Melbourne's northern corridor.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$830,000	$638,500
Growth Report
Median Quarterly	2.03%	4.12%
Median 12 month	6.41%	11.04%
Median 3 years	7.1%	8.22%
Median 5 years	15.84%	20.47%
10 years average annual	5.5%	5.78%
Weekly media advert. rent	$570	$510
Time on Market	49.2 days	53.7 days
Gross Rental Yield Percent	3.57%	4.15%

Demographics (Median Values)*

Total Population 14043

Weekly Household Income 1086

Household Size 2.90

Average Age 34

Monthly Loan Repayment 1733

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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