Most affordable suburbs within 5 – 10 km north of Melbourne

5 Younger street, Coburg

For Sale ~ 5 Younger street, Coburg. Price guide: $520,000 - $570,000

Based purely on median price, Coburg, Thornbury and Brunswick appear to be the most affordable suburbs among 11 selected suburbs immediately north of Melbourne.

It should be noted Hawthorn has a median house price of $1,152,500 and this may distort the average of median house prices up a little. If Hawthorn is excluded from the calculation, the average of median house prices is $649,000 for the selected suburbs.

Suburb

Median house price $

Km from Melb CBD

5-year growth %

Ave annual growth %

Weekly median rent $

Median yield %

Coburg

525,000

8

50.0

10.4

380

3.8

Thornbury

585,000

8

56.0

10.3

420

3.7

Brunswick

586,000

5.4

51.8

10.5

420

3.7

Brunswick West

600,000

7

54.8

10.0

400

3.5

Brunswick East

605,000

5.2

57.1

10.4

450

3.7

Northcote

665,500

7

58.4

10.7

450

3.5

Fairfield

675,250

8

45.7

10.8

475

3.6

Clifton Hill

702,000

5

46.2

10.3

470

3.5

Essendon

767,000

9

47.5

9.9

390

2.6

Alphington

780,500

10

44.5

9.2

425

2.8

Hawthorn

1,152,500

5.6

54.7

11.6

593

2.7

Average

694,886

7.1

51.5

10.4

443

3.3

Source: RP Data, April 2010

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

How it’s calculated:

Median price: Median price for the 12 months to December 2009

Average annual growth: Average percentage change over the past 10 years as a per annum figure

5-year growth: Median price percentage change over the past 5 years to December 2009

Weekly median advertised rent: Median price of rental listings for the 12 months to December 2009

Gross yield: Estimated rental return, based on advertised rent to median price

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