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 1.39%.
A 4.58% growth in median value for property investors in Lara,3212 puts this suburb at number 573th in terms of best performing suburbs in VIC
Property investors looking for a bargain in Lara should be aiming for at least -5.04% off the asking price, which is the average vendor discount being achieved at the moment.
In the last year 243 properties changed hands in Lara, which puts it as the 82th most active market in VIC when comparing the number of sales per suburb.
Advertised rents are around the $350 mark per week – giving a return of 4.99% based on the median price in Suburb
Property value increases in Lara have tracked just lower than the VIC average of 3.56% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Lara has increased when compared to the 5 year average annual rate.
Our latest figures would indicate that property sellers in Lara are currently offering property investors an average price cut of -4.96% below the asking price at the moment.
A $285 per week rent on the median house gives suburb investors a gross yield of circa 5.04%, without taking into account capital value appreciation, which has been averaging out at 4.41%.