Suburb Profile Report for Lower Plenty VIC (3093)

Lower Plenty House: Median price $845,000, Annual capital growth 7.39%, Number of sales 43, Weekly median advertised rent $495

Lower Plenty Unit: Median price $521,500, Annual capital growth 7.84%, Number of sales 35, Weekly median advertised rent $340

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Lower Plenty has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 12.67%

Across a shorter period, Lower Plenty, 3093 has seen a median price increase of 3.99% over the last quarter.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.03% offered to property buyers. Sellers in Lower Plenty itself are offering an average vendor discount of -7.69% to real estate investors.

Renters in Suburb are facing rents around $5940 per annum or $495 every week.

If you compare the increase in value of investment property in Lower Plenty, 3093 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 5.57%.

If we look at median property appreciation over just the last three months, Lower Plenty has given property investors a paper return of 7.19%. This puts Suburb as 30 on a list of fastest fasting appreciating suburbs in VIC

The most recent median price for Lower Plenty is $521500, with sellers offering an average of -7.14% off the asking price.

Often selling an investment property can take time, and in Lower Plenty the average time real estate has been on the market is 55.64 days.

HOUSE UNIT
$845,000 $521,500
3.99% 7.19%
12.67% 5.57%
7.39% 7.84%
$495 $340
43 35
3.05% 3.39%
48.93 55.64

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 3782
Median household income ($/weekly) 1588
Median age of persons 42
Median housing loan repayment ($/monthly) 2000
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 424 11.2
    25-34 years 445 11.8
    35-44 years 497 13.1
    45-54 years 540 14.3
    55-64 years 508 13.4
    Others 1368 36.2
    Age Group
    Census Count Percent(%)
    Registered Married 1461 52.6
    Not Married 1128 40.6
    Defacto Relationship 187 6.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 3080 84.1
    Japan 46 1.3
    Papua New Guinea 39 1.1
    United Kingdom 149 4.1
    Other 117 3.2
    Others 232 6.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 35 1.0
    Christianity 2302 68.5
    Hinduism 22 0.7
    Islam 33 1.0
    No Religion 950 28.2
    Others 21 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 99 8.1
    $1,250-$1,499 97 8.0
    $1,500-$1,999 143 11.8
    $2,000-$2,499 115 9.4
    $2,500-$2,999 156 12.8
    Others 607 49.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1148 37.4
    Not in the labour force 1084 35.3
    Employed, worked part-time 650 21.2
    Employed, away from work 126 4.1
    Unemployed, looking for work 65 2.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 359 18.7
    Professionals 528 27.5
    Technicians & trades workers 219 11.4
    Clerical & administrative workers 304 15.8
    Sales 189 9.9
    Others 319 16.6
    Occupation
    Census Count Percent(%)
    Pre-school 68 7.9
    Infants/Primary 274 31.6
    Secondary 248 28.6
    Technical or Further Educational Institution 57 6.6
    University or other Tertiary Institutions 195 22.5
    Others 24 2.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2743 80.3
    Semi-detached, row or terrace house, townhouse 542 15.9
    Flat, unit or apartment 130 3.8
    House or flat attached to a shop, office 3 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 575 42.7
    Being purchased 519 38.5
    Rented 242 18.0
    Other tenure type 11 0.8
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals