Suburb Profile Report for Lara VIC (3212)

Lara House: Median price $365,000, Annual capital growth 3.32%, Number of sales 237, Weekly median advertised rent $350

Lara Unit: Median price $292,500, Annual capital growth 4.35%, Number of sales 35, Weekly median advertised rent $290

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

Source: CoreLogic

  • House Report
  • Unit Report

Lara is in the bottom 20% in VIC when comparing median price capital growth over the last year. Lara gave property investors a dismal capital gain figure when compared to the rest of the state, with 0.00%.

Over the longer term, Lara has seen property prices show investors a 3.18% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Lara is giving property investors an average Vendor Discount of around -4.93%. This puts suburb at number 402th in VIC when ranking the most discounted suburbs.

A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.99%, without taking into account capital value appreciation, which has been averaging out at 3.32%.

Lara is in the bottom 40% in VIC when comparing median price capital growth over the last year. Lara gave property investors a disappointing capital gain figure when compared to the rest of the state, with 1.30%.

If we look at median property appreciation over just the last three months, Lara has given property investors a paper return of -0.85%. This puts Suburb as 233 on a list of fastest fasting appreciating suburbs in VIC

At number 110th of VIC’s most discounted properties, Lara is in the bottom 40% of the state/territory when listing in order of most discounted to least.

Advertised rents are around the $290 mark per week – giving a return of 5.16% based on the median price in Suburb

HOUSE UNIT
$365,000 $292,500
-1.35% -0.85%
0.00% 1.30%
3.32% 4.35%
$350 $290
237 35
4.99% 5.16%
60.55 83.6

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (U)
Find a mortgage broker in Lara VIC
Demographics
Total population 13845
Median household income ($/weekly) 1399
Median age of persons 36
Median housing loan repayment ($/monthly) 1625
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 1965 14.2
    25-34 years 1872 13.5
    35-44 years 2349 17.0
    45-54 years 1890 13.7
    55-64 years 1565 11.3
    Others 4204 30.4
    Age Group
    Census Count Percent(%)
    Registered Married 5154 54.2
    Not Married 3424 36.0
    Defacto Relationship 937 9.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 11269 84.3
    New Zealand 117 0.9
    Philippines 199 1.5
    United Kingdom 808 6.0
    Other 227 1.7
    Others 755 5.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 121 1.0
    Christianity 8595 71.1
    Islam 68 0.6
    Other Religious Groups 48 0.4
    No Religion 3227 26.7
    Others 34 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 379 9.2
    $1,000-$1,249 383 9.3
    $1,500-$1,999 667 16.2
    $2,000-$2,499 528 12.8
    $2,500-$2,999 377 9.1
    Others 1795 43.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 4081 38.5
    Not in the labour force 3740 35.3
    Employed, worked part-time 2070 19.5
    Employed, away from work 412 3.9
    Unemployed, looking for work 288 2.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1022 15.6
    Technicians & trades workers 1142 17.4
    Community & personal service workers 697 10.6
    Clerical & administrative workers 953 14.5
    Sales 683 10.4
    Others 2063 31.4
    Occupation
    Census Count Percent(%)
    Pre-school 270 8.0
    Infants/Primary 1269 37.7
    Secondary 1083 32.2
    Technical or Further Educational Institution 298 8.9
    University or other Tertiary Institutions 333 9.9
    Others 110 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 11942 95.2
    Semi-detached, row or terrace house, townhouse 251 2.0
    Flat, unit or apartment 318 2.5
    Caravan, cabin, houseboat 14 0.1
    House or flat attached to a shop, office 9 0.1
    Others 6 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2145 47.6
    Fully owned 1376 30.5
    Rented 959 21.3
    Other tenure type 25 0.6
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals