Wonga Park

POSTAL CODE: VIC, 3115
HOUSE

Based on its average 5-year and quarterly capital gains WONGA PARK, 3115 saw average growth in the long term.

A survey of average capital gains or median home price increase in suburbs across the country shows that WONGA PARK, 3115 obtained a 7.01% growth over a ten-year period. It ranks 1926th on our list of suburbs that property investors should look into.

WONGA PARK, 3115 in VIC belongs to the local government area of Manningham.

WONGA PARK, 3115 has a capital gain of 2.02% for the past year, which is lower than average compared to its 20.6% growth within a five-year period.

With the median home price in WONGA PARK sitting at $1,387,500, and the average rent at $815, property owners could potentially earn a 3.05% increase in gross rental yield.

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

Surburb overview

Wonga Park is approximately 33 kilometres north-east of Melbourne's Central Business District. According to the 2021 Census, the suburb has a population of 3,842, with a median age of 45. The community predominantly consists of families, with a significant proportion of residents aged between 50 and 59 years.

Public transportation options in Wonga Park are limited, with no direct train or tram services. Residents primarily rely on private vehicles for commuting, though bus services are available to neighbouring suburbs.

The suburb features a small commercial area along Jumping Creek Road, offering essential services such as a general store with fuel, a post office, and eateries, including a Thai restaurant. Educational facilities include Wonga Park Primary School. The area boasts a tennis club, cricket club, golf course, and horse-riding clubs for recreation. The proximity to the Yarra River provides opportunities for canoeing and other water activities. Additionally, the Clifford Park Scout Camp is located within Wonga Park.

The suburb hosts a farmers' market at the Wonga Park Primary School on the fourth Saturday of each month, offering local foods, produce, crafts, plants, music, and children's activities. The Kellybrook Winery, an established Yarra Valley winery located on Fulford Road, features a cellar door for wine tastings, occasional live music, and an annual cider festival in autumn.

The median property price for a house in Wonga Park is approximately $1,360,000, with an annual capital growth of -0.69%. Rental yields for houses are currently around 2.59%, with a median weekly rent of $775.

Wonga Park offers a blend of residential living, access to essential services, and recreational opportunities in a green wedge setting.

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