Suburb Profile Report for Norlane VIC (3214)

Norlane House: Median price $265,000, Annual capital growth 6.35%, Number of sales 210, Weekly median advertised rent $250

Norlane Unit: Median price $247,500, Annual capital growth 2.06%, Number of sales 27, Weekly median advertised rent $260

  • 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 11.00% over the last 12 months.

While Norlane,3214 ranked number 202th in VIC for increase in median house value (annualised) increase, it is ranked 396th over the last 5 years.

Vendor discounting in Norlane is giving property investors an average Vendor Discount of around -4.27%. This puts suburb at number 384th in VIC when ranking the most discounted suburbs.

At number 693 in a list of fastest selling suburbs, Norlane is in the TOP 20% of suburbs in Australia with an average of days on market 48.15 for properties listed there.

Property investors should expect to get $250 weekly from the median priced house in this suburb.

Norlane has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 10.00% to date .

A 18.71% growth in median value for property investors in Norlane,3214 puts this suburb at number 128th in terms of best performing suburbs in VIC

Norlane, 3214 is offering VIC ‘s 42th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this VIC.

On average over the past year, suburb has had 2.25 sales per month, which equates to 27 per year.

Norlane, 3214’s gross rental yield is 5.46%

Metrics i HOUSE UNIT
$265,000 $247,500
3.92% 2.91%
18.30% 10.00%
6.35% 2.06%
$250 $260
210 27
4.91% 5.46%
48.15 87.52

Source: CoreLogic

DSR Score for property investment : 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