Suburb Profile Report for Lakes Entrance VIC (3909)

Lakes Entrance House: Median price $275,000, Annual capital growth 0.94%, Number of sales 118, Weekly median advertised rent $273

Lakes Entrance Unit: Median price $260,000, Annual capital growth -0.49%, Number of sales 23, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Lakes Entrance have tracked just lower than the VIC average of 8.27% 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 Lakes Entrance has fallen somewhat when compared to the 5 year average annual rate.

Lakes Entrance, 3909 is offering VIC ‘s 205th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.

At number 3620 in a list of fastest selling suburbs, Lakes Entrance is in the bottom 10% of suburbs in Australia with an average of days on market 149.09 for properties listed there.

A $272.5 per week rent on the median house gives suburb investors a gross yield of circa 5.15%, without taking into account capital value appreciation, which has been averaging out at 0.94%.

If you compare the increase in value of investment property in Lakes Entrance, 3909 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was 0.00%.

LACK OF BUYER INTEREST may well be the reason that Lakes Entrance is offering property investors an average of -5.13. This rate of discount on properties puts Suburb at number 13th in terms of most discounted suburbs in VIC

In the last year 23 properties changed hands in Lakes Entrance, which puts it as the 277th most active market in VIC when comparing the number of sales per suburb.

Renters in Suburb are facing rents around $3000 per annum or $250 every week.

Metrics i HOUSE UNIT
$275,000 $260,000
-1.79% N/A
3.77% 0.00%
0.94% -0.49%
$273 $250
118 23
5.15% 5.00%
149.09 177.23

Source: CoreLogic

DSR Score for property investment : Above average (H), Below average (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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