Suburb Profile Report for Lalor VIC (3075)

Lalor House: Median price $518,000, Annual capital growth 7.80%, Number of sales 260, Weekly median advertised rent $340

Lalor Unit: Median price $345,500, Annual capital growth 5.53%, Number of sales 44, Weekly median advertised rent $317

  • 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 9.04% which means that Lalor, 3075 has done well for property investors by showing a capital gain of 13.85% over the last year

Taking the average capital gain, or increase in median house value, Lalor,3075 has racked up an average of 13.85% over the period. This ranks it number 906th in the whole country for real estate investors looking at median house price increases.

Property investors looking for a bargain in Lalor should be aiming for at least -8.95% off the asking price, which is the average vendor discount being achieved at the moment.

At number 1941 in a list of fastest selling suburbs, Lalor is just in the bottom half of suburbs in Australia with an average of days on market 81.18 for properties listed there.

Using the current median advertised rental of $340 and the average annual increase in value of a median property of 7.80%, investors should hope to achieve an overall return of 3.41%

Lalor, 3075 ranked 205th in VIC when comparing growth in median property values or capital gain over the last 12 months. Lalor is one of 2098 in our list for VIC

When looking at the potential capital gains offered to property investors over the last 3 years, Lalor comes in at number 169th in VIC.

Lalor3075 is located in VIC which offers an average discount of -5.03% to property investors. Lalor itself is showing figures that indicate -7.21% is the average achievable by property buyers investing in the suburb.

Often selling an investment property can take time, and in Lalor the average time real estate has been on the market is 151.57 days.

Property investors should expect to get $317 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
Metrics i HOUSE UNIT
$518,000 $345,500
3.81% -1.29%
13.85% 3.13%
7.80% 5.53%
$340 $317
260 44
3.41% 4.77%
81.18 151.57

Source: CoreLogic

DSR Score for property investment : Good (H), Good (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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