Coburg North is a mid-sized suburb in Victoria within the Moreland local government area (postcode 3058). The area has roughly 8,327 residents and an established family demographic, with a median age of 38. Households earn a median income of $103K per year, with an average household size of 2.5 people. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, technicians & trades. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Italian.
The median house price in Coburg North is $1.1 million, having grown strongly by 8.7% over the past year. Units have a median price of $740,000 (-6% YoY). The current median weekly rent is $550. This gives a gross rental yield of approximately 2.7%. The median monthly mortgage repayment is $2,167.
Public transport access includes 6 rail stations, 51 bus stops.
On the investment side, The gross rental yield works out to roughly 2.7%, which reads as low yield. Property prices are near the state median ($1.1M/$875K). The price-to-income ratio of 10.4x is considered stretched. House prices have moved +8.7% year-on-year.