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Truganina, VIC 3029

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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 Truganina, VIC 3029 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

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Rent 

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Yield 

2BR

3BR

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5BR

Buy 

1BR

2BR

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Rent 

1BR

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Yield 

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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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1 thought on “Truganina, VIC 3029”

  1. The total adult population (15 years or older) of Truganina 3029 VIC is 25,727, with a median age of 30. Of those, 61.03% are married, 6.63% are divorced or separated, 30.53% are single and 1.87% are widowed.

    The average household size is 3.4 people per dwelling, and the median household monthly income is estimated to be $8,432. The median monthly mortgage repayment for households in this suburb is $2,000 which is 23.72% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Truganina, postcode 3029, is located in Victoria and boasts an estimated 18,517 households. Being one-fifth into the third quarter of 2023, house prices in Truganina are typically around $703,187. The median weekly rent is $408, offering an indicative yield of 3.02%. This yield is aligned with the minimum attractive market requirement for cash flow-focused property investors, thus making Truganina a viable investment option.

    In assessing the Truganina’s socio-economic climate, it scored 1020 out of 1217 on the IRSAD index suggesting it fosters a considerably favourable economic environment. A renter to owner ratio of 31% signifies a fair distribution with a small tilt towards homeownership, which can contribute to neighbourhood stability and appeal.

    The market predominance is heavily skewed towards the houses with a units to houses ratio of just 4%. This balance signifies a market that fosters less competition among landlords and maintains higher rental yields. It also indicates that Truganina primarily attracts families leading to longer tenancy periods.

    However, future homeowners may face a slight affordability crunch as the years to own a property in Truganina stands at 33 years, 3 years above the standard mortgage period. The stock on market Percentage is 0.88%, which falls into the neutral category, indicating a balanced supply and demand situation.

    Furthermore, the houses have an inventory level of 3.44 months, implying that the property market in Truganina has a fair amount of supply. This is exacerbated by a somewhat high building approvals Ratio of 5.48% which may indicate increased supply in the future.

    When considering the demand parameters, houses tend to stay 34 days on the market, showing a relatively quick turnover and high demand. A vacancy rate of 1.07% indicates an above-average demand for rental properties, whilst the buy search index for houses is at 3, which may suggest a limited demand but still falls into the neutral range.

    In summary, the Truganina region, while touching on affordability challenges, presents a balanced property investment climate. The area’s high socio-economic score, low units to house ratio, and short days on market time are all strong indicators that contribute to its investment potential. However, it’s vital to keep an eye on market indicators, such as inventory levels and building approval rates, to understand the supply situation going forward. As always, understanding the data and keeping abreast of market trends is essential when making informed property investment 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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