Suburb Profile Report for Lalor VIC (3075)

Lalor House: Median price $475,000, Annual capital growth 6.84%, Number of sales 242, Weekly median advertised rent $340

Lalor Unit: Median price $345,000, Annual capital growth 5.77%, Number of sales 61, Weekly median advertised rent $310

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Lalor 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 9.07%

Lalor,3075 was ranked 1969 in Australia by increase in median property value over the quarter.

Property buyers and investors in Lalor 3075 should be seeing an average reduction in asking price of around -12.10% . This means that Lalor is holding prices well when compared to other suburbs in VIC.

Often selling an investment property can take time, and in Lalor the average time real estate has been on the market is 69.78 days.

A $340 per week rent on the median house gives suburb investors a gross yield of circa 3.72%, without taking into account capital value appreciation, which has been averaging out at 6.84%.

Property investors who have had real estate in Lalor, 3075 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 7.06%

The five-year average increase in median property values for Lalor,3075 has given property investors a potential capital gain of 7.48% across each of those five years.

Vendor discounting in Lalor is giving property investors an average Vendor Discount of around -7.06%. This puts suburb at number 39th in VIC when ranking the most discounted suburbs.

Often selling an investment property can take time, and in Lalor the average time real estate has been on the market is 92.43 days.

YIP MAG Information supplied by:

YIP MAG
August 2015

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Lalor’s key strength is no doubt its affordability.Full summary Lalor’s key strength is no doubt its affordability.

With a median house price of just $385,000, investors can pick up a lovely three-bedroom family home on a quiet street close to sought-after amenities.

In particular, residents in Lalor’s large population of roughly 20,000 (according to the most recent ABS Census) benefit from its wide range of schools and shops.

This includes the Lalor Shopping Centre located on Station Street and May Road.

It’s also located just 18km north of the Melbourne CBD and has excellent transport (bus and train) options to get residents there.

Increasing demand for this suburb can be seen by its vacancy rate of 1.15%, according to Real Estate Investar.

Three-bedroom houses on Mount View Rd are within walking distance of Lalor train station, schools and shops. Woodlands Pl and Parkview Ct offer affordable three-bedroom houses from around $320,000.Close
HOUSE UNIT
$475,000 $345,000
1.06% 1.47%
9.07% 7.06%
6.84% 5.77%
$340 $310
242 61
3.72% 4.67%
69.78 92.43

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 19873
Median household income ($/weekly) 920
Median age of persons 38
Median housing loan repayment ($/monthly) 1574
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 2317 11.7
    25-34 years 2969 14.9
    35-44 years 2649 13.3
    45-54 years 2327 11.7
    55-64 years 2338 11.8
    Others 7273 36.6
    Age Group
    Census Count Percent(%)
    Registered Married 8208 53.1
    Not Married 6672 43.1
    Defacto Relationship 590 3.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 9468 50.2
    Germany 1158 6.1
    Hong Kong 1159 6.1
    Japan 1453 7.7
    Other 1026 5.4
    Others 4582 24.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 1175 6.3
    Christianity 11891 64.0
    Islam 2763 14.9
    Other Religious Groups 643 3.5
    No Religion 1614 8.7
    Others 487 2.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 929 15.6
    $600-$799 738 12.4
    $800-$999 594 10.0
    $1,000-$1,249 652 10.9
    $1,500-$1,999 712 12.0
    Others 2332 39.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 7568 49.0
    Employed, worked full-time 4487 29.0
    Employed, worked part-time 2148 13.9
    Unemployed, looking for work 668 4.3
    Employed, away from work 576 3.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 768 10.6
    Technicians & trades workers 1173 16.3
    Clerical & administrative workers 1033 14.3
    Machinery operators & drivers 950 13.2
    Labourers 1203 16.7
    Others 2085 28.9
    Occupation
    Census Count Percent(%)
    Pre-school 255 6.5
    Infants/Primary 1307 33.1
    Secondary 1191 30.1
    Technical or Further Educational Institution 414 10.5
    University or other Tertiary Institutions 564 14.3
    Others 222 5.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 17907 93.4
    Semi-detached, row or terrace house, townhouse 799 4.2
    Flat, unit or apartment 448 2.3
    House or flat attached to a shop, office 28 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 3126 48.7
    Being purchased 1790 27.9
    Rented 1462 22.8
    Other tenure type 40 0.6
    Tenure Type
Census 2011, ABS
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