Suburb Profile Report for Norlane VIC (3214)

Norlane House: Median price $228,250, Annual capital growth 5.12%, Number of sales 182, Weekly median advertised rent $240

Norlane Unit: Median price $230,000, Annual capital growth 1.16%, Number of sales 22, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report

VIC has seen average median house prices change by 7.68% which means that Norlane, 3214 has done well for property investors by showing a capital gain of 4.70% over the last year

Over the longer term, Norlane has seen property prices show investors a 11.34% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Norlane is giving property investors an average Vendor Discount of around -6.21%. This puts suburb at number 240th in VIC when ranking the most discounted suburbs.

Residents and property investors in Norlane have been waiting around 64.04 days to sell a property.

Situated 61.75km from the CBD, Norlane is one of Greater Geelong localities in the postcode 3214.

Norlane is an average performer in VIC when comparing median price capital growth over the last year. Norlane gave property investors a good capital gain figure when compared to the rest of the state, with 7.23%.

Taking the average capital gain, or increase in median house value, Norlane,3214 has racked up an average of 7.23% over the period. This ranks it number 1263th in the whole country for real estate investors looking at median house price increases.

At number 126th of VIC’s most discounted properties, Norlane is in the bottom 40% of the state/territory when listing in order of most discounted to least.

Advertised rents are around the $250 mark per week – giving a return of 5.65% based on the median price in Suburb

HOUSE UNIT
$228,250 $230,000
2.35% 2.00%
4.70% 7.23%
5.12% 1.16%
$240 $250
182 22
5.47% 5.65%
64.04 126.94

Source: CoreLogic

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