Suburb Profile Report for Norlane VIC (3214)

Norlane House: Median price $250,000, Annual capital growth 5.91%, Number of sales 189, Weekly median advertised rent $240

Norlane Unit: Median price $242,500, Annual capital growth 1.87%, Number of sales 20, Weekly median advertised rent $253

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Norlane have tracked just higher than the VIC average of 9.78% over the last 12 months.

While Norlane,3214 ranked number 130th in VIC for increase in median house value (annualised) increase, it is ranked 433th over the last 5 years.

Vendor discounting in Norlane is giving property investors an average Vendor Discount of around -4.49%. This puts suburb at number 398th in VIC when ranking the most discounted suburbs.

Often selling an investment property can take time, and in Norlane the average time real estate has been on the market is 49.95 days.

Norlane is 117th on a list of best yielding suburbs for rents in VIC with a 4.99% return

With a capital gain of 10.73% for the last 12 months, Norlane, 3214 has performed for property investments than its average annual 1.87% property growth over the last 5 years.

If we look at median property appreciation over just the last three months, Norlane has given property investors a paper return of 3.19%. This puts Suburb as 108 on a list of fastest fasting appreciating suburbs in VIC

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 Norlane, 3214. Typically our figures indicate that -4.20% is being offered, which puts this VIC suburb at 975th most discounted overall in Australia.

At number 772 in a list of fastest selling suburbs, Norlane is just in the bottom half of suburbs in Australia with an average of days on market 78 for properties listed there.

Property investors should expect to get $252.5 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$250,000 $242,500
5.71% 3.19%
13.64% 10.73%
5.91% 1.87%
$240 $253
189 20
4.99% 5.41%
49.95 78

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 8011
Median household income ($/weekly) 625
Median age of persons 39
Median housing loan repayment ($/monthly) 1083
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 984 12.3
    25-34 years 927 11.6
    35-44 years 1026 12.8
    45-54 years 1038 13.0
    55-64 years 961 12.0
    Others 3076 38.4
    Age Group
    Census Count Percent(%)
    Not Married 3527 58.5
    Registered Married 1992 33.1
    Defacto Relationship 506 8.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 5561 74.4
    Egypt 183 2.4
    Germany 165 2.2
    United Kingdom 275 3.7
    Other 418 5.6
    Others 870 11.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 155 2.2
    Christianity 4717 65.6
    Islam 178 2.5
    Other Religious Groups 69 1.0
    No Religion 2046 28.5
    Others 26 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $200-$299 272 9.1
    $300-$399 505 16.8
    $400-$599 522 17.4
    $600-$799 462 15.4
    $800-$999 298 9.9
    Others 946 31.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 3270 54.0
    Employed, worked full-time 1297 21.4
    Employed, worked part-time 837 13.8
    Unemployed, looking for work 423 7.0
    Employed, away from work 224 3.7
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 389 16.5
    Community & personal service workers 270 11.5
    Sales 245 10.4
    Machinery operators & drivers 339 14.4
    Labourers 577 24.5
    Others 533 22.7
    Occupation
    Census Count Percent(%)
    Pre-school 105 6.7
    Infants/Primary 574 36.8
    Secondary 487 31.2
    Technical or Further Educational Institution 185 11.9
    Other type of educational institution 109 7.0
    Others 99 6.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6852 89.3
    Flat, unit or apartment 521 6.8
    Semi-detached, row or terrace house, townhouse 293 3.8
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1574 48.5
    Fully owned 984 30.3
    Being purchased 665 20.5
    Other tenure type 24 0.7
    Tenure Type
Census 2011, ABS
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