Suburb Profile Report for Wallan VIC (3756)

Wallan House: Median price $370,000, Annual capital growth 3.93%, Number of sales 217, Weekly median advertised rent $340

Wallan Unit: Median price $272,250, Annual capital growth 2.93%, Number of sales 33, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report

Wallan is in the bottom 40% in VIC when comparing median price capital growth over the last year. Wallan gave property investors a disappointing capital gain figure when compared to the rest of the state, with 5.11%.

When looking at the potential capital gains offered to property investors over the last 3 years, Wallan comes in at number 555th in VIC.

At number 402th of VIC’s most discounted properties, Wallan is in the TOP 40% of the state/territory when listing in order of most discounted to least.

The VIC suburb of Wallan, 3756 is in the Mitchell local government area.

VIC has seen average median house prices change by 4.26% which means that Wallan, 3756 has done well for property investors by showing a capital gain of -1.36% over the last year

Over the longer term, Wallan has seen property prices show investors a 6.76% return over the last 3 years. This is worse than over the last 12 months

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.07% offered to property buyers. Sellers in Wallan itself are offering an average vendor discount of -4.33% to real estate investors.

In the last year 33 properties changed hands in Wallan, which puts it as the 243th most active market in VIC when comparing the number of sales per suburb.

Advertised rents are around the $300 mark per week – giving a return of 5.73% based on the median price in Suburb

Metrics i HOUSE UNIT
$370,000 $272,250
1.37% -1.71%
5.11% -1.36%
3.93% 2.93%
$340 $300
217 33
4.78% 5.73%
67.2 114.29

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (U)
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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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