Suburb Profile Report for Lorne VIC (3232)

Lorne House: Median price $1,050,000, Annual capital growth 4.08%, Number of sales 46, Weekly median advertised rent N/A

Lorne Unit: Median price $567,500, Annual capital growth -0.71%, Number of sales 33, 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 92th in the list of Australian suburbs ordered by increase in median house value over the last year, Lorne, 3232 is in the top 10% with a property value increase of 29.63% recorded in median house prices.

Taking the average capital gain, or increase in median house value, Lorne,3232 has racked up an average of 29.63% over the period. This ranks it number 1392th in the whole country for real estate investors looking at median house price increases.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.80% offered to property buyers. Sellers in Lorne itself are offering an average vendor discount of -5.09% to real estate investors.

Residents and property investors in Lorne have been waiting around 128.45 days to sell a property.

Property value increases in Lorne have tracked lower than the VIC average of 4.28% over the last 12 months.

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

Vendor discounting in Lorne is giving property investors an average Vendor Discount of around -6.97%. This puts suburb at number 40th in VIC when ranking the most discounted suburbs.

Metrics i HOUSE UNIT
$1,050,000 $567,500
13.21% -6.97%
29.63% -13.75%
4.08% -0.71%
N/A N/A
46 33
N/A N/A
128.45 99.9

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Lorne VIC
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
Chart Table
Recent sales & rentals