Suburb Profile Report for Lucknow VIC (3875)

Lucknow House: Median price $280,000, Annual capital growth -0.08%, Number of sales 22, Weekly median advertised rent $295

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

Source: CoreLogic

  • House Report
  • Expert Report

Property investors who have had real estate in Lucknow, 3875 should be 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 34.94%

Vendor discounting in Lucknow is giving property investors an average Vendor Discount of around -2.49%. This puts suburb at number 623th in VIC when ranking the most discounted suburbs.

Often selling an investment property can take time, and in Lucknow the average time real estate has been on the market is 73.85 days.

Lucknow is 53th on a list of best yielding suburbs for rents in VIC with a 5.48% return

Information supplied by:


February 2018

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Situated in East Gippsland, the suburb of Lucknow boasts very low-priced housesFull summary

Buyers on a budget look to rising suburb

Postcode: 3875

Median house price: $240,000

Three-year growth: 3.4%

Rental yield: 6.7%

Situated in East Gippsland, the suburb of Lucknow boasts very low-priced houses.

Lucknow’s rise began only three years ago, but the increasing rates of growth indicate that this suburb has potential. Over the last 12 months leading up to November 2017, house prices went up by 7.1%, and this trend is set to continue based on the 11.6% hike recorded in the November 2017 quarter.

Even then, the median value remains under $250,000, which is ideal for buyers who are looking to save. The average rental yield is very high at 6.7%, which could appeal to investors seeking cash flow.

Lucknow sits on the Mitchell River, and provides easy access to the regional centre of Bairnsdale. Thus, schools and train transport are close by.

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Metrics i HOUSE UNIT
$280,000 N/A
3.70% N/A
34.94% N/A
-0.08% N/A
$295 N/A
22 N/A
5.48% N/A
73.85 N/A

Source: CoreLogic

DSR Score for property investment : Very good (H), Above average (U)
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Demographics
Total population 1065
Median household income ($/weekly) 931
Median age of persons 42
Median housing loan repayment ($/monthly) 1335
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 134 12.6
    25-34 years 101 9.5
    35-44 years 131 12.3
    45-54 years 148 13.9
    55-64 years 179 16.8
    Others 372 34.9
    Age Group
    Census Count Percent(%)
    Registered Married 428 54.8
    Not Married 275 35.2
    Defacto Relationship 78 10.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 950 92.1
    Japan 6 0.6
    Papua New Guinea 15 1.5
    United Kingdom 32 3.1
    Other 10 1.0
    Others 19 1.8
    Country of Birth
    Census Count Percent(%)
    Christianity 635 65.2
    No Religion 331 34.0
    Buddhism 4 0.4
    Hinduism 4 0.4
    Islam 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 56 15.9
    $600-$799 47 13.4
    $800-$999 52 14.8
    $1,000-$1,249 45 12.8
    $1,500-$1,999 36 10.2
    Others 116 33.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 296 35.5
    Employed, worked full-time 272 32.7
    Employed, worked part-time 199 23.9
    Employed, away from work 42 5.0
    Unemployed, looking for work 24 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 59 11.5
    Professionals 63 12.3
    Technicians & trades workers 79 15.4
    Sales 70 13.7
    Labourers 76 14.8
    Others 165 32.2
    Occupation
    Census Count Percent(%)
    Pre-school 20 9.1
    Infants/Primary 86 39.1
    Secondary 65 29.5
    Technical or Further Educational Institution 28 12.7
    University or other Tertiary Institutions 13 5.9
    Others 8 3.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 922 92.9
    Caravan, cabin, houseboat 33 3.3
    Flat, unit or apartment 32 3.2
    Semi-detached, row or terrace house, townhouse 5 0.5
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 161 41.3
    Being purchased 136 34.9
    Rented 93 23.8
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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Recent sales & rentals