Suburb Profile Report for Wallan VIC (3756)

Wallan House: Median price $395,000, Annual capital growth 4.64%, Number of sales 232, Weekly median advertised rent $340

Wallan Unit: Median price $280,250, Annual capital growth 1.96%, Number of sales 29, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Wallan is an average performer in VIC when comparing median price capital growth over the last year. Wallan gave property investors a average capital gain figure when compared to the rest of the state, with 11.27%.

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

Property buyers and investors in Wallan 3756 should be seeing an average reduction in asking price of around -3.92% . This means that Wallan is holding prices well when compared to other suburbs in VIC.

Giving property investors a an unimpressive capital gain of 0.99% for the last year, Wallan, 3756 is the 1093th highest performer in Australia in this respect.

Over the longer term, Wallan has seen property prices show investors a 10.99% 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 Wallan is offering property investors an average of -4.68. This rate of discount on properties puts Suburb at number 177th in terms of most discounted suburbs in VIC

With the median price for a house in Wallan being $280250 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 5.57%

Information supplied by:


May 2017

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Wallan is the fastest-growing town in the Shire of Mitchell. It is well stocked with amenities in the form of the Wellington Square Shopping Centre, which contains a supermarket. There are several schools in the area, including kindergartens, as well as childcare centres.Full summary

Also known as Wallan Wallan, the suburb of Wallan has the Great Dividing Range as its picturesque background.

It is the fastest-growing town in the Shire of Mitchell. It is well stocked with amenities in the form of the Wellington Square Shopping Centre, which contains a supermarket. There are several schools in the area, including kindergartens, as well as childcare centres.

Wallan also serves as a connection between Melbourne and rural areas like Kilmore, since it is situated just beyond the metropolitan boundary less than an hour’s drive from the CBD. This could account for its steady growth over the past five years. Being a regional suburb, its prices are relatively low as well, and investors can get significant yields.

Close
Metrics i HOUSE UNIT
$395,000 $280,250
5.33% 1.54%
11.27% 0.99%
4.64% 1.96%
$340 $300
232 29
4.48% 5.57%
64.47 96.69

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Wallan VIC
Demographics
Total population 8502
Median household income ($/weekly) 1427
Median age of persons 32
Median housing loan repayment ($/monthly) 1762
Average household size 3
  • Census Count Percent(%)
    5-14 years 1471 17.3
    25-34 years 1178 13.9
    35-44 years 1464 17.2
    45-54 years 1167 13.7
    55-64 years 842 9.9
    Others 2382 28.0
    Age Group
    Census Count Percent(%)
    Registered Married 2979 52.6
    Not Married 2010 35.5
    Defacto Relationship 675 11.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 6802 85.9
    Japan 81 1.0
    Papua New Guinea 120 1.5
    United Kingdom 308 3.9
    Other 125 1.6
    Others 479 6.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 45 0.6
    Christianity 5354 70.9
    Islam 120 1.6
    Other Religious Groups 42 0.6
    No Religion 1948 25.8
    Others 47 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 251 10.9
    $1,250-$1,499 265 11.5
    $1,500-$1,999 381 16.6
    $2,000-$2,499 277 12.0
    $2,500-$2,999 200 8.7
    Others 925 40.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2678 45.9
    Not in the labour force 1586 27.2
    Employed, worked part-time 1121 19.2
    Employed, away from work 266 4.6
    Unemployed, looking for work 179 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 456 11.2
    Professionals 482 11.9
    Technicians & trades workers 782 19.2
    Clerical & administrative workers 651 16.0
    Machinery operators & drivers 426 10.5
    Others 1268 31.2
    Occupation
    Census Count Percent(%)
    Pre-school 174 7.9
    Infants/Primary 920 41.8
    Secondary 678 30.8
    Technical or Further Educational Institution 165 7.5
    University or other Tertiary Institutions 186 8.5
    Others 76 3.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7129 90.9
    Semi-detached, row or terrace house, townhouse 503 6.4
    Flat, unit or apartment 208 2.7
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1587 62.1
    Fully owned 528 20.7
    Rented 431 16.9
    Other tenure type 10 0.4
    Tenure Type
Census 2011, ABS
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