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Essendon West, VIC 3040
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,485,000
market range $1.4M-$1.6M
Median Unit
$785,000
market range $750K-$825K
Gross Yield (houses)
3.1%
1yr Growth (houses)
+3.8%
market range -7.5% to +15.0%
Investment snapshot for Essendon West
Essendon West has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Essendon West market and investor summary
In Essendon West, VIC 3040, the median house sells for around $1.5M, on a gross rental yield of 3.1% for houses. House prices have moved +3.8% over the past year. At 3.1% vacancy, it is a softer rental market with more choice for tenants.
For an investor, this reads as a capital-growth market more than a cashflow one. A gross house yield around 3.1% will not cover holding costs in the early years, so the case leans on price appreciation.
Living in Essendon West: people, income and schools
Essendon West is home to around 1,559 people, a number that has held fairly steady over five years. At a median age of 39, it reads as broadly working-age, and 73% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
The typical household income runs to around $122,000 a year (about $2,340 a week). On socio-economic measures it ranks among the most advantaged in the country (9 out of 10 on the ABS advantage index). At current prices a median house runs to a steep 12.2 times local household income, so affordability is a genuine constraint on local buyers. Incomes have risen about 15% over five years, which tends to underpin what local buyers can pay.
Families have 63 schools within roughly 5km to choose from, testing a little above the national school average on ICSEA. Essendon West sits about 9.7 km from the CBD. It is fairly car-dependent; the suburb scores 43 for walkability and 83 for transit out of 100. Fixed broadband is delivered over the NBN's Hybrid Fibre Coaxial (HFC).
- Population
- 1,559
- +2% over 5yr
- Median age
- 39 years
- Median household income
- $122,000/yr
- Households renting
- 27%
- Family households
- 49%
- Socio-economic rank
- 9/10
- ABS advantage index
- Schools within 5km
- 63
- avg ICSEA 1068
- Unemployment
- 3.8%
- Distance to CBD
- 9.7 km
- Walk score
- 43/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Essendon West
View all →Frequently asked questions about Essendon West
What should I check before investing in Essendon West?
Essendon West has enough public data for first-pass screening across yield, vacancy, price and supply signals. Unit gross rental yield of 4.6% gives a usable rent-to-price starting point. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Essendon West?
The median property price in Essendon West, VIC 3040 is $1.5M for houses and $785K for units.
What rental yield does Essendon West show?
The gross rental yield in Essendon West is 3.1% for houses and 4.6% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
What does recent house price growth show for Essendon West?
House prices in Essendon West are up 3.8% over the past year. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in Essendon West?
The current vacancy rate in Essendon West is 3.1%. A rate under 2% generally signals a tight rental market. This suburb's rental market is softer, with tenants having more choice and rents possibly under pressure.
How many people live in Essendon West?
Essendon West has a population of approximately 1,559 residents, with a median age of 39.
What schools are near Essendon West?
There are 63 schools within roughly 5km of Essendon West. Their average ICSEA is a little above the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Essendon West affordable to buy in?
A median house in Essendon West costs about 12.2 times the median local household income (a high multiple that makes the suburb a stretch for median local earners). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Essendon West's population growing?
The population of Essendon West has grown modestly, about 2% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is Essendon West from the CBD?
Essendon West is about 9.7 km from the CBD.
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