Northcote

POSTAL CODE: VIC, 3070

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a 0.61% capital gain.

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 $1,660,000.

Profits due to an upward trend in home prices there averaged 0.2% per annum over a 3-year period.

Home owners selling their properties and realtors in NORTHCOTE usually have to wait an average of 53.2 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $920 mark, reflecting a 2.88% increase in returns based on the current median price in NORTHCOTE.

NORTHCOTE, 3070 places 600th in Australia based on median property value growth during the quarter.

Property investors in NORTHCOTE enjoyed capital gains of 0.15% over the last 12 months translating to higher returns compared with its peers in the territory.

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

NORTHCOTE posted a 5.42% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.

Real estate investors could earn a rental income of $590 based on current median home prices for the suburb.

Average weekly rents on listings have reached the $590 mark, reflecting a 4.64% increase in returns based on the current median price in NORTHCOTE.

NORTHCOTE, 3070 ranks 276th in VIC in terms of median property value increase and capital gains, based on year-to-date figures.

NORTHCOTE ranks 156th on the list of best yielding suburbs for rental properties in VIC, posting a 4.64% return.

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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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,660,000	$661,000
Growth Report
Median Quarterly	-3.6%	-2.79%
Median 12 month	-1.37%	0.15%
Median 3 years	0.61%	5.42%
Median 5 years	0.61%	-6.9%
10 years average annual	4.42%	3.3%
Weekly media advert. rent	$920	$590
Time on Market	53.2 days	54.7 days
Gross Rental Yield Percent	2.88%	4.64%

Demographics (Median Values)*

Total Population 24561

Weekly Household Income 1868

Household Size 2.40

Average Age 36

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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