Suburb Profile Report for Lake Wendouree VIC (3350)

Lake Wendouree House: Median price $680,000, Annual capital growth 9.30%, Number of sales 47, Weekly median advertised rent $300

Lake Wendouree Unit: Median price $305,500, Annual capital growth 1.19%, Number of sales 23, Weekly median advertised rent $278

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

Source: CoreLogic

  • House Report
  • Unit Report

Lake Wendouree is in the bottom 40% in VIC when comparing median price capital growth over the last year. Lake Wendouree gave property investors a disappointing capital gain figure when compared to the rest of the state, with 4.62%.

Comparing Lake Wendouree,3350 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Property investors looking for a bargain in Lake Wendouree should be aiming for at least -7.84% off the asking price, which is the average vendor discount being achieved at the moment.

On average over the past year, suburb has had 3.92 sales per month, which equates to 47 per year.

Advertised rents are around the $300 mark per week – giving a return of 2.29% based on the median price in Suburb

With a capital gain of -10.15% for the last 12 months, Lake Wendouree, 3350 has performed for property investments than its average annual 1.19% property growth over the last 5 years.

The five-year average increase in median property values for Lake Wendouree,3350 has given property investors a potential capital gain of -16.30% across each of those five years.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.33% offered to property buyers. Sellers in Lake Wendouree itself are offering an average vendor discount of -6.22% to real estate investors.

Often selling an investment property can take time, and in Lake Wendouree the average time real estate has been on the market is 104.4 days.

HOUSE UNIT
$680,000 $305,500
0.00% 1.33%
4.62% -10.15%
9.30% 1.19%
$300 $278
47 23
2.29% 4.72%
70.11 104.4

Source: CoreLogic

DSR Score for property investment : Balanced (H), Good (U)
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Demographics
Total population 2883
Median household income ($/weekly) 1385
Median age of persons 47
Median housing loan repayment ($/monthly) 1733
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 312 10.8
    35-44 years 308 10.7
    45-54 years 415 14.4
    55-64 years 416 14.4
    65-74 years 265 9.2
    Others 1168 40.5
    Age Group
    Census Count Percent(%)
    Registered Married 1066 52.8
    Not Married 823 40.8
    Defacto Relationship 130 6.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 2441 89.1
    Indonesia 30 1.1
    Papua New Guinea 31 1.1
    United Kingdom 82 3.0
    Other 52 1.9
    Others 103 3.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 14 0.5
    Christianity 1970 74.6
    Hinduism 17 0.6
    Islam 10 0.4
    No Religion 622 23.5
    Others 9 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 102 10.4
    $600-$799 89 9.1
    $1,500-$1,999 112 11.4
    $2,000-$2,499 83 8.5
    $2,500-$2,999 92 9.4
    Others 504 51.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 957 41.6
    Employed, worked full-time 761 33.1
    Employed, worked part-time 423 18.4
    Employed, away from work 96 4.2
    Unemployed, looking for work 63 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 220 17.2
    Professionals 448 35.0
    Technicians & trades workers 143 11.2
    Clerical & administrative workers 166 13.0
    Sales 104 8.1
    Others 200 15.6
    Occupation
    Census Count Percent(%)
    Pre-school 43 6.7
    Infants/Primary 200 31.3
    Secondary 201 31.5
    Technical or Further Educational Institution 50 7.8
    University or other Tertiary Institutions 127 19.9
    Others 18 2.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2164 85.5
    Semi-detached, row or terrace house, townhouse 186 7.3
    Flat, unit or apartment 173 6.8
    House or flat attached to a shop, office 8 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 507 47.5
    Rented 307 28.8
    Being purchased 248 23.2
    Other tenure type 5 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals