Suburb Profile Report for Lalor VIC (3075)

Lalor House: Median price $470,000, Annual capital growth 6.83%, Number of sales 267, Weekly median advertised rent $340

Lalor Unit: Median price $340,000, Annual capital growth 4.49%, Number of sales 69, Weekly median advertised rent $310

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 604th in the list of Australian suburbs ordered by increase in median house value over the last year, Lalor, 3075 is in the top 20% with a property value increase of 14.63% recorded in median house prices.

Taking the average capital gain, or increase in median house value, Lalor,3075 has racked up an average of 14.63% over the period. This ranks it number 1067th in the whole country for real estate investors looking at median house price increases.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.99% offered to property buyers. Sellers in Lalor itself are offering an average vendor discount of -10.28% to real estate investors.

VIC has seen average median house prices change by 3.56% which means that Lalor, 3075 has done well for property investors by showing a capital gain of 6.08% over the last year

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Lalor has increased when compared to the 5 year average annual rate.

Lalor3075 is located in VIC which offers an average discount of -5.33% to property investors. Lalor itself is showing figures that indicate -7.14% is the average achievable by property buyers investing in the suburb.

Advertised rents are around the $310 mark per week – giving a return of 4.74% based on the median price in Suburb

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
$470,000 $340,000
3.07% 0.29%
14.63% 6.08%
6.83% 4.49%
$340 $310
267 69
3.76% 4.74%
72.46 96.43

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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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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