Suburb Profile Report for Lara VIC (3212)

Lara House: Median price $413,750, Annual capital growth 4.46%, Number of sales 221, Weekly median advertised rent $360

Lara Unit: Median price $311,000, Annual capital growth 5.51%, Number of sales 32, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Lara have tracked close to the VIC average of 10.43% 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.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Lara, 3212. Typically our figures indicate that -4.13% is being offered, which puts this VIC suburb at 2947th most discounted overall in Australia.

The VIC suburb of Lara, 3212 is in the Greater Geelong local government area.

At number 724th in the list of Australian suburbs ordered by increase in median house value over the last year, Lara, 3212 is in the top half with a property value increase of 5.42% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, Lara comes in at number 104th in VIC.

Vendor discounting in Lara is giving property investors an average Vendor Discount of around -4.76%. This puts suburb at number 140th in VIC when ranking the most discounted suburbs.

Lara, 3212’s gross rental yield is 5.02%

Metrics i HOUSE UNIT
$413,750 $311,000
3.44% 5.60%
11.82% 5.42%
4.46% 5.51%
$360 $300
221 32
4.52% 5.02%
40.03 60.82

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
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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
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Recent sales & rentals