Essendon North is a smaller suburb in Victoria within the Moonee Valley local government area (postcode 3041). The area has roughly 3,071 residents and an established family demographic, with a median age of 38. Households earn a median income of $89K per year, with an average household size of 2.1 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% year-on-year at the LGA level. 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, clerical & administrative, managers. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Italian.
Essendon North has a median house price of $1.2 million, which has edged higher by 1.6% year-on-year. Units have a median price of $380,000 (-1.3% YoY). The current median weekly rent is $550. This gives a gross rental yield of approximately 2.3%. The median monthly mortgage repayment is $2,000.
Essendon North is served by 1 school, including 1 primary. The average ICSEA score is 1116, which is well above the national average of 1,000. Public transport access includes 13 bus stops. The crime rate in the Moonee Valley LGA is moderate at 7,876 incidents per 100,000 population.
From an investment perspective, Essendon North shows a gross rental yield of approximately 2.3%, rated as low yield. Property prices are above the state median ($1.2M/$875K), placing it in the premium segment. The price-to-income ratio of 13.8x is considered stretched. House prices have moved +1.6% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.