Northcote

POSTAL CODE: VIC, 3070
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A steady increase in median property prices over a five-year period in the suburb translates to a 2.99% capital gain.

Property investors in NORTHCOTE enjoyed capital gains of 6.15% 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 $1,725,000.

Profits due to an upward trend in home prices there averaged 1% per annum over a 3-year period.

Home owners selling their properties and realtors in NORTHCOTE usually have to wait an average of 52 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $750 mark, reflecting a 2.26% increase in returns based on the current median price in NORTHCOTE.

NORTHCOTE, 3070 places 290th in Australia based on median property value growth during the quarter.

Surburb overview

Northcote is an inner suburb of Darebin, Victoria, located approximately 6 kilometres northeast of Melbourne's Central Business District. As of the 2021 census, it had 25,276 residents.

The suburb is renowned for its vibrant, multicultural atmosphere and laid-back lifestyle. High Street serves as the central hub, featuring a plethora of diverse cafés, restaurants, supermarkets, shops, and venues. Northcote fosters a strong sense of community, hosting neighbourhood festivals and artistic activities throughout the year.

Public transportation in Northcote is well-developed, with tram lines, bus routes, and railway stations nearby. These facilitate access to Melbourne's city centre and surrounding suburbs. The suburb is also known for its bike culture, with many residents opting for cycling as a mode of transport.

Recreational opportunities are abundant, with numerous parks and green spaces. The suburb has 23 parks covering nearly 11.3% of its total area, providing residents with ample outdoor spaces for leisure and sports activities.

Northcote offers a range of housing options. The median property price is approximately $1,600,000, and annual capital growth is -2.74%. Rental yields are around 2.55%, and the median weekly rent is $750.

Northcote's blend of cultural diversity, accessible amenities, and recreational facilities contributes to its appeal as a residential suburb in Melbourne's northern corridor.

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