Suburb Profile Report for Lorne VIC (3232)

Lorne House: Median price $755,000, Annual capital growth 1.19%, Number of sales 47, Weekly median advertised rent N/A

Lorne Unit: Median price $567,500, Annual capital growth -0.25%, Number of sales 37, Weekly median advertised rent N/A

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 4008th in the list of Australian suburbs ordered by increase in median house value over the last year, Lorne, 3232 is in the BOTTOM 10% with a property value increase of -15.64% recorded in median house prices.

Over the longer term, Lorne has seen property prices show investors a -10.12% return over the last 3 years. This is worse than over the last 12 months

The most recent median price for Lorne is $755000, with sellers offering an average of -5.26% off the asking price.

Lorne is in the bottom 10% in VIC when comparing median price capital growth over the last year. Lorne gave property investors a dismal capital gain figure when compared to the rest of the state, with -27.48%.

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

LACK OF BUYER INTEREST may well be the reason that Lorne is offering property investors an average of -5.12. This rate of discount on properties puts Suburb at number 165th in terms of most discounted suburbs in VIC

The VIC suburb of Lorne, 3232 is in the Surf Coast local government area.

HOUSE UNIT
$755,000 $567,500
-3.94% -4.86%
-15.64% -27.48%
1.19% -0.25%
N/A N/A
47 37
N/A N/A
125.71 99.25

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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Demographics
Total population 1393
Median household income ($/weekly) 972
Median age of persons 49
Median housing loan repayment ($/monthly) 1600
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 133 9.5
    35-44 years 181 13.0
    45-54 years 200 14.4
    55-64 years 231 16.6
    65-74 years 178 12.8
    Others 470 33.7
    Age Group
    Census Count Percent(%)
    Registered Married 435 51.2
    Not Married 321 37.8
    Defacto Relationship 94 11.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 1042 84.8
    Papua New Guinea 20 1.6
    Philippines 12 1.0
    United Kingdom 65 5.3
    Other 32 2.6
    Others 58 4.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 12 1.0
    Christianity 653 57.0
    Hinduism 6 0.5
    Judaism 9 0.8
    No Religion 459 40.1
    Others 6 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 54 13.0
    $600-$799 48 11.6
    $800-$999 52 12.6
    $1,000-$1,249 47 11.4
    $1,500-$1,999 41 9.9
    Others 172 41.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 418 40.7
    Employed, worked full-time 290 28.2
    Employed, worked part-time 242 23.5
    Employed, away from work 58 5.6
    Unemployed, looking for work 20 1.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 140 23.6
    Professionals 98 16.5
    Technicians & trades workers 97 16.4
    Sales 64 10.8
    Labourers 78 13.2
    Others 116 19.6
    Occupation
    Census Count Percent(%)
    Pre-school 21 9.6
    Infants/Primary 74 33.8
    Secondary 67 30.6
    Technical or Further Educational Institution 21 9.6
    University or other Tertiary Institutions 28 12.8
    Others 8 3.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 877 82.6
    Semi-detached, row or terrace house, townhouse 97 9.1
    Flat, unit or apartment 85 8.0
    Caravan, cabin, houseboat 3 0.3
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 231 49.3
    Rented 130 27.7
    Being purchased 105 22.4
    Other tenure type 3 0.6
    Tenure Type
Census 2011, ABS
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