Bundoora

POSTAL CODE: VIC, 3083

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a 4.65% capital gain.

It also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $900,000

The augmented property values in the suburb are trailing above the territorial average of 2.91% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $580.

Home owners selling their properties and realtors in BUNDOORA usually have to wait an average of 39.7 days days before their assets are lifted off the market.

The VIC suburb ranks 343rd on the list of best yielding suburbs for rental properties in VIC, posting a 3.35% return.

It also places places 233rd in Australia based on median property value growth during the quarter.

Property investors enjoyed capital gains of 3% over the last 12 months in BUNDOORA, translating to lower returns compared with its peers in VIC.

A survey of average capital gains or median home price increase in suburbs across the country shows that BUNDOORA, 3083 obtained a 2.94% growth over a ten-year period. It ranks 1306th on our list of suburbs that property investors should look into.

BUNDOORA, 3083 has a capital gain of 3% for the past year, which is higher than average compared to its 13.94% growth within a five-year period.

With the median home price in BUNDOORA sitting at $515,000, and the average rent at $500, property owners could potentially earn a 5.05% increase in gross rental yield.

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

BUNDOORA, 3083 in VIC belongs to the local government area of Whittlesea.

Surburb overview

Bundoora, located approximately 15 kilometres northeast of Melbourne's Central Business District, is a suburb spanning the Cities of Banyule, Darebin, and Whittlesea. As of the 2021 census, it has a population of 28,068 residents.

The suburb is known for its educational institutions, notably La Trobe University's main campus and RMIT University's Bundoora campus, which contribute to a vibrant and youthful atmosphere.

Bundoora offers residential and commercial areas with leafy streets and expansive parklands. Bundoora Park, a 180-hectare public space home to Mount Cooper, is often claimed to be Metropolitan Melbourne's highest point.

The suburb connects to the city centre and other areas through public transportation, including buses and trams.

In terms of housing, Bundoora offers a range of options. The median property price for houses is approximately $876,500, with an annual growth of 3.18%. Rental yields for houses are around 3.18%.

Bundoora's blend of educational opportunities, accessible amenities, and green spaces contributes to its appeal as a residential suburb in Melbourne's northeastern corridor.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$900,000	$515,000
Growth Report
Median Quarterly	2.86%	-0.58%
Median 12 month	4.23%	3%
Median 3 years	4.65%	7.29%
Median 5 years	20.18%	13.94%
10 years average annual	4.37%	2.94%
Weekly media advert. rent	$580	$500
Time on Market	39.7 days	62.4 days
Gross Rental Yield Percent	3.35%	5.05%

Demographics (Median Values)*

Total Population 31526

Weekly Household Income 1305

Household Size 2.80

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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