Tongala is a small community in Victoria within the Campaspe local government area (postcode 3621). The area has roughly 1,973 residents and an established family demographic, with a median age of 41. Households earn a median income of $63K per year, with an average household size of 2.4 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at -0.1% 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 labourers, technicians & trades, managers. Employment in the area leans toward agriculture and healthcare. The top ancestries reported are Australian, English, Scottish.
The median house price in Tongala is $450,000, having climbed sharply by 11% over the past year. The current median weekly rent is $460. This gives a gross rental yield of approximately 5.3%. The median monthly mortgage repayment is $1,127.
Tongala is served by 2 schools, including 2 primary. The average ICSEA score is 980, which is around the national average of 1,000. Public transport access includes 2 bus stops. The crime rate in the Campaspe LGA is higher than average at 10,244 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 5.3% (high yield). Property prices sit below the state median ($450K/$875K), which can point to relative value. The price-to-income ratio of 7.1x is considered moderate. House prices have moved +11.0% year-on-year. Population growth of -0.1% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.