Suburb Profile Report for Lakes Entrance VIC (3909)

Lakes Entrance House: Median price $280,000, Annual capital growth 1.68%, Number of sales 118, Weekly median advertised rent $275

Lakes Entrance Unit: Median price $250,000, Annual capital growth -0.64%, Number of sales 22, Weekly median advertised rent $238

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

Source: CoreLogic

  • House Report
  • Unit Report

With a capital gain of 7.90% for the last 12 months, Lakes Entrance, 3909 has performed for property investments than its average annual 1.68% property growth over the last 5 years.

If we look at median property appreciation over just the last three months, Lakes Entrance has given property investors a paper return of 3.32%. This puts Suburb as 253 on a list of fastest fasting appreciating suburbs in VIC

Property investors looking for a bargain in Lakes Entrance should be aiming for at least -6.24% off the asking price, which is the average vendor discount being achieved at the moment.

Often selling an investment property can take time, and in Lakes Entrance the average time real estate has been on the market is 148.5 days.

A $275 per week rent on the median house gives suburb investors a gross yield of circa 5.11%, without taking into account capital value appreciation, which has been averaging out at 1.68%.

If you compare the increase in value of investment property in Lakes Entrance, 3909 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -5.66%.

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

Lakes Entrance, 3909 is offering VIC ‘s 14th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this VIC.

Renters in Suburb are facing rents around $2850 per annum or $237.5 every week.

HOUSE UNIT
$280,000 $250,000
3.32% 1.52%
7.90% -5.66%
1.68% -0.64%
$275 $238
118 22
5.11% 4.94%
148.5 158.33

Source: CoreLogic

DSR Score for property investment : Above average (H), Balanced (U)
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Demographics
Total population 4569
Median household income ($/weekly) 694
Median age of persons 49
Median housing loan repayment ($/monthly) 1300
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 490 10.7
    35-44 years 461 10.1
    45-54 years 579 12.7
    55-64 years 716 15.7
    65-74 years 686 15.0
    Others 1637 35.8
    Age Group
    Census Count Percent(%)
    Registered Married 1613 49.5
    Not Married 1364 41.9
    Defacto Relationship 280 8.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 3595 86.1
    New Zealand 43 1.0
    Papua New Guinea 50 1.2
    United Kingdom 231 5.5
    Other 53 1.3
    Others 201 4.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 22 0.6
    Christianity 2740 69.6
    Hinduism 6 0.2
    Other Religious Groups 15 0.4
    No Religion 1142 29.0
    Others 9 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 235 14.6
    $400-$599 305 19.0
    $600-$799 245 15.3
    $800-$999 168 10.5
    $1,000-$1,249 123 7.7
    Others 529 33.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1867 52.9
    Employed, worked full-time 803 22.7
    Employed, worked part-time 598 16.9
    Unemployed, looking for work 132 3.7
    Employed, away from work 130 3.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 193 12.6
    Technicians & trades workers 247 16.1
    Community & personal service workers 199 13.0
    Sales 185 12.1
    Labourers 268 17.5
    Others 439 28.7
    Occupation
    Census Count Percent(%)
    Pre-school 68 8.9
    Infants/Primary 265 34.8
    Secondary 243 31.9
    Technical or Further Educational Institution 116 15.2
    University or other Tertiary Institutions 39 5.1
    Others 30 3.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3320 82.9
    Flat, unit or apartment 288 7.2
    Semi-detached, row or terrace house, townhouse 203 5.1
    Caravan, cabin, houseboat 170 4.2
    House or flat attached to a shop, office 26 0.6
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 807 45.6
    Rented 569 32.2
    Being purchased 380 21.5
    Other tenure type 12 0.7
    Tenure Type
Census 2011, ABS
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