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Northcote, VIC 3070

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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 Northcote, VIC 3070 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 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

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Yield 

1BR

2BR

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 “Northcote, VIC 3070”

  1. The total adult population (15 years or older) of Northcote 3070 VIC is 21,495, with a median age of 37. Of those, 34.42% are married, 8.71% are divorced or separated, 53.05% are single and 3.80% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $12,724. The median monthly mortgage repayment for households in this suburb is $2,400 which is 18.86% of their earnings.

    Source: ABS Census Data (2021)

  2. The vibrant suburb of Northcote 3070, nestled within the dynamic real estate market of VIC, is home to approximately 13,275 households. As we move into the third quarter of 2023, the typical property prices for houses in Northcote 3070 are comfortably positioned at $1,659,584. The median weekly rent here stands at $771, which presents a worthwhile indicative yield of 2.42%, although this falls slightly short of the ideal yield of 3%.

    Northcote 3070 boasts an impressive IRSAD score of 1117 out of 1217, signaling a high socio-economic status of the residents in the area. Also interesting to note is the renter to owner ratio, which currently sits at 37%. While this is slightly above the optimal 30%, it indicates a healthy level of rental activity without exceeding the 45% threshold that might suggest an overly saturated rental market.

    The units to houses ratio in the suburb is a favourable 34%, which encourages less competition among landlords for tenants and helps uphold a positive rental yield. Furthermore, a lower ratio like this is often indicative of a market where homes tend to attract family tenants who commonly commit to longer tenancy periods.

    However, affordability in Northcote 3070 is worth examining. With a high affordability index of 51 years, it implies a longer duration than the common 30-year mortgage period to fully own a property here. This elevated index could suggest a decreased affordability in the suburb.

    On the supply side, the metrics showcase promising figures. The stock on market Percentage for houses is a favourable 0.12%, indicating a low supply. Adjacently, the inventory level is a favourable 0.42 months, revealing that the market can swiftly absorb new listings. The building approvals ratio sitting at 0.14%, well under the 0.3% threshold, indicating a low supply of new dwellings coming onto the market.

    With houses spending an average of 26 days on the market, we see a high demand, hence it’s favourable. The combined vacancy rate for houses and units is a reasonable 1.06%. The relatively low figure suggests high demand and less competition for property owners seeking to attract tenants.

    The buy search index for houses is at a neutral 4. Though this falls short of the high demand indication above 6, it’s not limited demand.

    While there are some mixed signals, particularly in affordability and yield, the portrait of Northcote 3070 in the Q3 of 2023 is of a promising property market for those looking to invest. All these aspects underscore the importance of keeping a close eye on the Australian property market and making investment decisions based on comprehensive, up-to-date data.

    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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