Suburb Profile Report for Lang Lang VIC (3984)

Lang Lang House: Median price $360,000, Annual capital growth 5.92%, Number of sales 32, Weekly median advertised rent $320

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

Source: CoreLogic

  • House Report
  • Expert Report

Lang Lang, 3984 ranked 413th in VIC when comparing growth in median property values or capital gain over the last 12 months. Lang Lang is one of 2098 in our list for VIC

Lang Lang, 3984 is offering VIC ‘s 276th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.

Residents and property investors in Lang Lang have been waiting around 48.59 days to sell a property.

Lang Lang is 154th on a list of best yielding suburbs for rents in VIC with a 4.62% return

Information supplied by:


March 2017

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Houses are inexpensive at Lang Lang, despite strong and consistent growth over the past five years. The average rental return generated is also reasonably high at nearly 5%. Those looking to sell do not have to offer high discounts, thus increasing profit.Full summary

Farm town offers affordability with growth

Median house price: $360,000

Three-year growth: 33.33%

Rental yield: 4.69%

Just off the South Gippsland Highway, the small suburb of Lang Lang is known for producing the biggest crops of asparagus in the southern hemisphere.

Houses are inexpensive here at a median price of $360,000, despite strong and consistent growth over the past five years. The average rental return generated is also reasonably high at nearly 5%. Those looking to sell do not have to offer high discounts, thus increasing profit.

The suburb is right on the Lang Lang River and cultivates a thriving agricultural industry that also includes beef and dairy farming. There is an annual rodeo held in town, a tradition dating back to the 1940s. The suburb is home to a golf course as well. 

Cranbourne is approximately 30 minutes away via the highway, and buses run from the Comfort Station Bus Interchange all the way to Melbourne.

Close
Metrics i HOUSE UNIT
$360,000 N/A
N/A N/A
8.76% N/A
5.92% N/A
$320 N/A
32 N/A
4.62% N/A
48.59 N/A

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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Demographics
Total population 1346
Median household income ($/weekly) 915
Median age of persons 38
Median housing loan repayment ($/monthly) 1343
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 201 14.9
    25-34 years 137 10.2
    35-44 years 186 13.8
    45-54 years 179 13.3
    55-64 years 160 11.9
    Others 483 35.9
    Age Group
    Census Count Percent(%)
    Registered Married 482 48.4
    Not Married 387 38.9
    Defacto Relationship 126 12.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 1173 90.0
    New Zealand 12 0.9
    Papua New Guinea 10 0.8
    United Kingdom 57 4.4
    Other 12 0.9
    Others 39 3.0
    Country of Birth
    Census Count Percent(%)
    Christianity 790 66.6
    No Religion 390 32.9
    Buddhism 4 0.3
    Other Religious Groups 3 0.3
    Hinduism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 55 12.2
    $600-$799 56 12.4
    $800-$999 48 10.6
    $1,000-$1,249 46 10.2
    $1,500-$1,999 49 10.9
    Others 197 43.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 394 38.4
    Not in the labour force 374 36.5
    Employed, worked part-time 195 19.0
    Employed, away from work 38 3.7
    Unemployed, looking for work 25 2.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 83 13.2
    Technicians & trades workers 121 19.3
    Clerical & administrative workers 71 11.3
    Machinery operators & drivers 80 12.7
    Labourers 98 15.6
    Others 175 27.9
    Occupation
    Census Count Percent(%)
    Pre-school 30 9.5
    Infants/Primary 117 36.9
    Secondary 117 36.9
    Technical or Further Educational Institution 29 9.1
    University or other Tertiary Institutions 18 5.7
    Others 6 1.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1233 95.0
    Flat, unit or apartment 40 3.1
    Semi-detached, row or terrace house, townhouse 18 1.4
    House or flat attached to a shop, office 4 0.3
    Improvised home, tent, sleepers out 3 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 209 42.1
    Fully owned 191 38.4
    Rented 90 18.1
    Other tenure type 7 1.4
    Tenure Type
Census 2011, ABS
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Recent sales & rentals