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Essendon North, VIC 3041

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If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Essendon North, VIC 3041 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

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3BR

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Rent 

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Yield 

2BR

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5BR

Buy 

1BR

2BR

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Rent 

1BR

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Yield 

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3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Essendon North, VIC 3041”

  1. The total adult population (15 years or older) of Essendon North 3041 VIC is 2,626, with a median age of 38. Of those, 41.32% are married, 11.96% are divorced or separated, 41.43% are single and 5.56% are widowed.

    The average household size is 2.1 people per dwelling, and the median household monthly income is estimated to be $9,788. The median monthly mortgage repayment for households in this suburb is $2,000 which is 20.43% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Essendon North, with the postcode 3041, is located in Victoria and is home to an estimated 2,088 households. As per the Q3 data for 2023, the typical price for houses in the charming locale of Essendon North has been pegged at $1,179,183. Median weekly rent is at a robust $529, which equates to an indicative yield of 2.33%, a figure below the 3% threshold desired by cash flow-focused property investors.

    Essendon North suburb showcases a commendable IRSAD score of 1043 out of 1217, indicating a strong socio-economic status. The renter to owner ratio is slightly high at 46%, suggesting a higher proportion of renters, which could have implications on long-term returns and competitiveness within the local investor market. A close look at the housing composition reveals a units to houses ratio of 62%, indicative of a relatively heavy saturation of units which could influence competition among landlords and impact rental yields.

    When we divert our attention to the affordability index, the duration required to fully own a house stands at 47 years, a figure that surpasses the 31-year threshold, hinting at decreased affordability. However, the strong socio-economic score could offset this concern, indicating a population with higher income levels who can potentially manage this longer payoff period.

    On the supply front, Essendon North has a cautiously optimistic outlook. The stock on market Percentage for houses clocks in at a low 0.27%, indicating a favourable market with limited supply. Furthermore, the inventory level for houses is just 0.8 months, showing an absorbent property market and underscoring the low supply. The building approvals Ratio for houses is 1.91%, marking a healthy balance between supply and demand.

    The quest for a house in Essendon North appears to be a moderately competitive one, with days on market for houses placed at 46 days. Simultaneously, the vacancy rate for combined houses and units is a moderate 1.67%, indicating a balanced market with decent demand. However, with a buy search index for houses resting at 3, there could be limited demand for home purchases.

    Rife with its unique complexion of opportunities and challenges, the Essendon North property market beckons a calculated approach. While some metrics fall outside the ideal range, one should remember that trends play a significant role in shaping market dynamics. Analytical tools like the RCS (Relative Composite Score), which incorporates over 80 metrics, can come in handy when navigating this real estate landscape. Investors are poised to benefit immensely from being in-the-know, and using all relevant statistics to make informed decisions.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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