Suburb Profile Report for Norlane VIC (3214)

Norlane House: Median price $225,000, Annual capital growth 5.00%, Number of sales 167, Weekly median advertised rent $235

Norlane Unit: Median price $233,750, Annual capital growth 1.50%, 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

If you compare the increase in value of investment property in Norlane, 3214 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 4.41%.

Over the longer term, Norlane has seen property prices show investors a 9.76% return over the last 3 years. This is worse than over the last 12 months

LACK OF BUYER INTEREST may well be the reason that Norlane is offering property investors an average of -5.99. This rate of discount on properties puts Suburb at number 167th in terms of most discounted suburbs in VIC

VIC has seen average median house prices change by 3.56% which means that Norlane, 3214 has done well for property investors by showing a capital gain of 8.97% over the last year

Across a shorter period, Norlane, 3214 has seen a median price increase of 2.75% over the last quarter.

Property investors looking for a bargain in Norlane should be aiming for at least -7.70% off the asking price, which is the average vendor discount being achieved at the moment.

HOUSE UNIT
$225,000 $233,750
2.27% 2.75%
4.41% 8.97%
5.00% 1.50%
$235 $250
167 20
5.43% 5.56%
71.14 147.46

Source: CoreLogic

DSR Score for property investment : Above average (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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