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Tecoma
AREA REPORTS

Tecoma

Tecoma - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3160

house

TECOMA, 3160 delivered a stronger 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 TECOMA, 3160 values up and netting property investors a capital gain of 26.6% for the past year.

Investors saw the median home price rise to $940,000.

Profits due to an upward trend in home prices in the suburb averaged 11.43% per annum over a 3-year period.

TECOMA now ranks at the 112th 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 TECOMA are low, as opposed to average gains per annum over the past five years.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In TECOMA, homes and units usually stay on listing for an average of 18.5 days.

In 2016, 36 properties were sold in TECOMA during the past year, making it the 290th most active market in VIC based on total real estate transactions.

Data report can be found below

Tecoma
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $940,000 N/A
GROWTH REPORT
Median Quarterly 8.05% N/A
Median 12 month 26.6% N/A
Median 3 years 34.29% N/A
Median 5 years 56.28% N/A
10 years average annual 8.78% N/A
Weekly media advert. rent N/A N/A
Time on Market 18.5 days N/A
Gross Rental Yield Percent N/A N/A
demographics (median values)*
Total Population
9014
Weekly Household Income
1688
Household Size
2.80
Age
39
Monthly Loan Repayment
1700
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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