Suburb Profile Report for Lakes Entrance VIC (3909)

Lakes Entrance House: Median price $280,000, Annual capital growth 1.92%, Number of sales 117, Weekly median advertised rent $280

Lakes Entrance Unit: Median price $250,000, Annual capital growth -0.19%, Number of sales 22, Weekly median advertised rent $230

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

Source: CoreLogic

  • House Report
  • Unit Report

Property investors who have had real estate in Lakes Entrance, 3909 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 7.90%

Lakes Entrance,3909 has offered an average of 7.90% return per annum in house price rises to property investors over the last three years.

Sellers are offering property buyers an average discount of -6.44% to buyers in Lakes Entrance at the moment, which is less than average for the rest of VIC.

In the last year 117 properties changed hands in Lakes Entrance, which puts it as the 213th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Lakes Entrance being $280000 and the advertised rent reaching $280 the gross rental yield for property investors calculates out to be 5.20%

Lakes Entrance has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -5.66% to date .

Over the longer term, Lakes Entrance has seen property prices show investors a 7.76% return over the last 3 years. This is worse than over the last 12 months

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Lakes Entrance, 3909. Typically our figures indicate that -9.56% is being offered, which puts this VIC suburb at 61th most discounted overall in Australia.

In the last year 22 properties changed hands in Lakes Entrance, which puts it as the 284th most active market in VIC when comparing the number of sales per suburb.

Using the current median advertised rental of $230 and the average annual increase in value of a median property of -0.19%, investors should hope to achieve an overall return of 4.78%

HOUSE UNIT
$280,000 $250,000
0.72% -1.96%
7.90% -5.66%
1.92% -0.19%
$280 $230
117 22
5.20% 4.78%
140.31 158.33

Source: CoreLogic

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