Located in Victoria within the Latrobe (Vic.) local government area, Traralgon is a large suburb (postcode 3844). With a population of 26,907, the suburb has a settled mid-life population with a median age of 39. Households earn a median income of $77K per year, with an average household size of 2.3 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, technicians & trades, clerical & administrative. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are English, Australian, Scottish.
Traralgon has a median house price of $523,000, which has increased by 3.1% year-on-year. Units have a median price of $353,000 (+9.1% YoY). The current median weekly rent is $450. This gives a gross rental yield of approximately 4.5%. The median monthly mortgage repayment is $1,300.
Traralgon is served by 9 schools, including 6 primary, 2 secondary, 1 special. The average ICSEA score is 982, which is around the national average of 1,000. Public transport access includes 8 rail stations, 129 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Latrobe (Vic.) LGA is higher than average at 17,840 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 4.5% (moderate yield). Property prices sit below the state median ($523K/$875K), which can point to relative value. The price-to-income ratio of 6.8x is considered moderate. House prices have moved +3.1% year-on-year.