Suburb Profile Report for Lalor VIC (3075)

Lalor House: Median price $470,000, Annual capital growth 6.83%, Number of sales 257, Weekly median advertised rent $340

Lalor Unit: Median price $340,500, Annual capital growth 5.50%, Number of sales 74, Weekly median advertised rent $310

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

VIC has seen average median house prices change by 7.80% which means that Lalor, 3075 has done well for property investors by showing a capital gain of 12.10% over the last year

Over the longer term, Lalor has seen property prices show investors a 30.56% return over the last 3 years. This is worse than over the last 12 months

Lalor, 3075 is offering VIC ‘s 18th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this VIC.

Property investors should expect to get $340 weekly from the median priced house in this suburb.

VIC has seen average median house prices change by 3.63% which means that Lalor, 3075 has done well for property investors by showing a capital gain of 6.41% over the last year

When looking at the potential capital gains offered to property investors over the last 3 years, Lalor comes in at number 218th in VIC.

Our latest figures would indicate that property sellers in Lalor are currently offering property investors an average price cut of -6.63% below the asking price at the moment.

In the last year 74 properties changed hands in Lalor, which puts it as the 123th most active market in VIC when comparing the number of sales per suburb.

Property investors should expect to get $310 weekly from the median priced house in this 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 $340,500
2.17% 0.44%
12.10% 6.41%
6.83% 5.50%
$340 $310
257 74
3.76% 4.73%
71.03 91.46

Source: CoreLogic

DSR Score for property investment : Above average (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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