Suburb Profile Report for Norlane VIC (3214)

Norlane House: Median price $231,750, Annual capital growth 5.30%, Number of sales 184, Weekly median advertised rent $240

Norlane Unit: Median price $227,750, Annual capital growth 1.04%, Number of sales 20, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report

Over the last year, property investments in Norlane, 3214 have given investors a capital gain of 6.31%. This compares badly with the 8.06% for VIC as a whole.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Norlane has increased when compared to the 5 year average annual rate.

Sellers are offering property buyers an average discount of -5.66% to buyers in Norlane at the moment, which is less than average for the rest of VIC.

A $240 per week rent on the median house gives suburb investors a gross yield of circa 5.39%, without taking into account capital value appreciation, which has been averaging out at 5.30%.

If you compare the increase in value of investment property in Norlane, 3214 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 6.05%.

Over the longer term, Norlane has seen property prices show investors a 1.22% return over the last 3 years. This is an improvement over the last 12 months

LACK OF BUYER INTEREST may well be the reason that Norlane is offering property investors an average of -5.12. This rate of discount on properties puts Suburb at number 132th in terms of most discounted suburbs in VIC

With the median price for a house in Norlane being $227750 and the advertised rent reaching $250 the gross rental yield for property investors calculates out to be 5.71%

HOUSE UNIT
$231,750 $227,750
3.00% 1.00%
6.31% 6.05%
5.30% 1.04%
$240 $250
184 20
5.39% 5.71%
61.95 119.76

Source: CoreLogic

DSR Score for property investment : Very good (H), Above average (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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