tarneit

3029, Victoria

Real Estate & Property Information

Median
Price Rank
405

tarneit Suburb Profile & Review

Tarniet is a rapidly expanding western suburb in the City of Wyndham found half an hour from the city. Extensive bus services cater to commuters, while the nearest train stations are located in Hoppers Crossing and Laverton. Two new train stations are set to be built in Tarniet to provide for those who travel into the city on a regular basis.

Baden Powell College is a Prep to Year 9 college with a campus in Tarneit. Thomas Carr College can also be found in the suburb and Westbourne Grammer School is a well-regarded school in nearby Truganina. Wyndham Village Shopping Centre is a large shopping centre on Sayers Road featuring newsagents, supermarkets, cafes and takeaway shops, while Werribee Plaza is also a short drive away.

Geelong is less than an hour along the Princes Highway, while the kids will enjoy their proximity to Werribee Zoo. The Wyndham Leisure and Events Centre, the largest indoor aquatic centre in the Western region of Melbourne, can be found mere minutes down the road.

tarneit Demographic Data

$ 367,500 Median House Price

29 Minutes Average Commute

29 Median Age

21,690 Population

50.18 % Female

49.82 % Male

5866 NO OF FAMILIES

1.9 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in tarneit, Victoria.

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tarneit Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

tarneit Median House Prices

  • 2008 $ 290,500
  • 2009 $ 297,900
  • 2010 $ 325,000
  • 2011 $ 355,000
  • 2012 $ 367,500

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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tarneit 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in tarneit have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term tarneit property price predictions.

tarneit Market Property Types

  • 95 % Seperate House
  • 5 % Semi Detached
  • 1 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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tarneit Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

tarneit Income & Mortgage Stats

  • $ 1,563 Median Weekly Household Income
  • $ 2,000 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in tarneit

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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tarneit Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

tarneit Sold Property Prices

tarneit Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

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tarneit Restaurants

  • Sushi Hinode380 Sayers Rd tarneit VIC 302903 8742 1117
  • SnappersShop 24, 380 Sayers Roadtarneit VIC 302903 8742 2166
  • Hotel 520520 Sayers Rd tarneit VIC 302903 9748 8520

tarneit Cafes

  • StarbucksShop 41, Wyndham Village Shopping Centretarneit VIC 302903 8742 2844
  • Abnar Cafe and Catering2 Edmund Drivetarneit VIC 30290421 782 817

Find out How Much your House is Worth in tarneit

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