Suburb Profile Report for Varsity Lakes QLD (4227)

Varsity Lakes House: Median price $608,250, Annual capital growth 4.00%, Number of sales 151, Weekly median advertised rent $540

Varsity Lakes Unit: Median price $412,250, Annual capital growth 1.76%, Number of sales 330, Weekly median advertised rent $450

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Varsity Lakes has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 10.39%

Varsity Lakes,4227 was ranked 641 in Australia by increase in median property value over the quarter.

Vendor discounting in Varsity Lakes is giving property investors an average Vendor Discount of around -3.98%. This puts suburb at number 783th in QLD when ranking the most discounted suburbs.

On average over the past year, suburb has had 12.58 sales per month, which equates to 151 per year.

Using the current median advertised rental of $540 and the average annual increase in value of a median property of 4.00%, investors should hope to achieve an overall return of 4.62%

Varsity Lakes is an average performer in QLD when comparing median price capital growth over the last year. Varsity Lakes gave property investors a good capital gain figure when compared to the rest of the state, with 3.32%.

Over the longer term, Varsity Lakes has seen property prices show investors a 12.95% return over the last 3 years. This is worse than over the last 12 months

The most recent median price for Varsity Lakes is $412250, with sellers offering an average of -4.48% off the asking price.

Using the current median advertised rental of $450 and the average annual increase in value of a median property of 1.76%, investors should hope to achieve an overall return of 5.68%

HOUSE UNIT
$608,250 $412,250
5.42% 1.04%
10.39% 3.32%
4.00% 1.76%
$540 $450
151 330
4.62% 5.68%
35.66 68.75

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 14365
Median household income ($/weekly) 1136
Median age of persons 32
Median housing loan repayment ($/monthly) 2167
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 1866 13.0
    20-24 years 1430 10.0
    25-34 years 2350 16.4
    35-44 years 2174 15.1
    45-54 years 1615 11.2
    Others 4930 34.3
    Age Group
    Census Count Percent(%)
    Not Married 4692 46.4
    Registered Married 4163 41.2
    Defacto Relationship 1253 12.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 8770 65.5
    Croatia 257 1.9
    Papua New Guinea 1162 8.7
    United Kingdom 808 6.0
    Other 696 5.2
    Others 1703 12.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 335 2.6
    Christianity 8468 65.9
    Hinduism 124 1.0
    Islam 208 1.6
    No Religion 3574 27.8
    Others 142 1.1
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 457 9.9
    $600-$799 512 11.1
    $1,000-$1,249 450 9.8
    $1,500-$1,999 633 13.8
    $2,000-$2,499 449 9.8
    Others 2099 45.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3886 36.0
    Not in the labour force 3652 33.9
    Employed, worked part-time 2284 21.2
    Unemployed, looking for work 587 5.4
    Employed, away from work 372 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 769 11.8
    Professionals 1219 18.6
    Technicians & trades workers 934 14.3
    Clerical & administrative workers 946 14.5
    Sales 949 14.5
    Others 1727 26.4
    Occupation
    Census Count Percent(%)
    Pre-school 205 5.1
    Infants/Primary 1183 29.3
    Secondary 932 23.0
    Technical or Further Educational Institution 314 7.8
    University or other Tertiary Institutions 1301 32.2
    Others 109 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7540 57.7
    Semi-detached, row or terrace house, townhouse 3844 29.4
    Flat, unit or apartment 1667 12.8
    House or flat attached to a shop, office 18 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2345 46.8
    Being purchased 1678 33.5
    Fully owned 963 19.2
    Other tenure type 24 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals