Suburb Profile Report for Lang Lang VIC (3984)

Lang Lang House: Median price $370,000, Annual capital growth 5.93%, Number of sales 28, Weekly median advertised rent $320

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

Source: CoreLogic

  • House Report
  • Expert Report

Over the last year, property investments in Lang Lang, 3984 have given investors a capital gain of 13.85%. This compares averagely with the 11.00% for VIC as a whole.

Lang Lang,3984 has offered an average of 13.85% return per annum in house price rises to property investors over the last three years.

Lang Lang3984 is located in VIC which offers an average discount of -5.26% to property investors. Lang Lang itself is showing figures that indicate -6.00% is the average achievable by property buyers investing in the suburb.

A $320 per week rent on the median house gives suburb investors a gross yield of circa 4.50%, without taking into account capital value appreciation, which has been averaging out at 5.93%.

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.

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Metrics i HOUSE UNIT
$370,000 N/A
2.78% N/A
13.85% N/A
5.93% N/A
$320 N/A
28 N/A
4.50% N/A
54.41 N/A

Source: CoreLogic

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