Suburb Profile Report for Lennox Head NSW (2478)

Lennox Head House: Median price $942,500, Annual capital growth 4.92%, Number of sales 88, Weekly median advertised rent $650

Lennox Head Unit: Median price $722,500, Annual capital growth 5.03%, Number of sales 63, Weekly median advertised rent $590

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
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At number 2957th in the list of Australian suburbs ordered by increase in median house value over the last year, Lennox Head, 2478 is in the BOTTOM 30% with a property value increase of -3.83% recorded in median house prices.

Comparing Lennox Head,2478 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

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 Lennox Head, 2478. Typically our figures indicate that -7.88% is being offered, which puts this NSW suburb at 675th most discounted overall in Australia.

Using the current median advertised rental of $650 and the average annual increase in value of a median property of 4.92%, investors should hope to achieve an overall return of 3.59%

Property value increases in Lennox Head have tracked close to the NSW average of -0.92% over the last 12 months.

The five-year average increase in median property values for Lennox Head,2478 has given property investors a potential capital gain of 36.97% across each of those five years.

Property investors looking for a bargain in Lennox Head should be aiming for at least -4.64% off the asking price, which is the average vendor discount being achieved at the moment.

Advertised rents are around the $590 mark per week – giving a return of 4.25% based on the median price in Suburb

Information supplied by:


May 2017

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Vendors sell easily in surfers paradise

Median unit price: $620,000

Three-year growth: 16.98%

Rental yield: 4.28%

Although it is a suburb of NSW, the seaside surfers’ hub of Lennox Head is actually closer to the Gold Coast. Thus, it may be getting attention from both NSW and Queensland buyers.

The suburb’s unit market reported nearly 20% growth in the past year, and the positive growth trend has been maintained into the February 2017 quarter. The low average discount rate of 3.24% suggests that sellers are having little trouble unloading apartments here. 

Lennox Head is quite popular as a holiday destination for beachgoers; hence, it has the amenities to meet the needs of both visitors and residents. There is a recreational spot beside nearby Lake Ainsworth that provides barbecue facilities, and the lake itself is ideal for kayaking. The famous Lennox Point is located at the southern end of Seven Mile Beach. There is also a small primary school catering to families with kids.


 
Metrics i HOUSE UNIT
$942,500 $722,500
-0.53% 0.00%
-3.83% -3.67%
4.92% 5.03%
$650 $590
88 63
3.59% 4.25%
117.023255813954 80.1612903225806

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Good (U)
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Demographics
Total population 6146
Median household income ($/weekly) 1258
Median age of persons 40
Median housing loan repayment ($/monthly) 2000
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 936 15.2
    25-34 years 590 9.6
    35-44 years 953 15.5
    45-54 years 1046 17.0
    55-64 years 847 13.8
    Others 1774 28.9
    Age Group
    Census Count Percent(%)
    Registered Married 2323 53.2
    Not Married 1568 35.9
    Defacto Relationship 477 10.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 5140 86.9
    Papua New Guinea 120 2.0
    United Kingdom 299 5.1
    United States of America 40 0.7
    Other 114 1.9
    Others 201 3.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 107 1.9
    Christianity 3763 67.1
    Islam 17 0.3
    Other Religious Groups 36 0.6
    No Religion 1668 29.7
    Others 18 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 224 11.3
    $600-$799 229 11.6
    $800-$999 188 9.5
    $1,500-$1,999 278 14.0
    $2,000-$2,499 194 9.8
    Others 868 43.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1594 34.3
    Not in the labour force 1476 31.8
    Employed, worked part-time 1207 26.0
    Unemployed, looking for work 186 4.0
    Employed, away from work 184 4.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 418 14.0
    Professionals 790 26.5
    Technicians & trades workers 395 13.2
    Community & personal service workers 346 11.6
    Clerical & administrative workers 353 11.8
    Others 683 22.9
    Occupation
    Census Count Percent(%)
    Pre-school 142 8.6
    Infants/Primary 608 36.7
    Secondary 514 31.1
    Technical or Further Educational Institution 102 6.2
    University or other Tertiary Institutions 247 14.9
    Others 42 2.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4661 80.8
    Semi-detached, row or terrace house, townhouse 1034 17.9
    Flat, unit or apartment 43 0.7
    House or flat attached to a shop, office 23 0.4
    Caravan, cabin, houseboat 9 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 811 37.2
    Fully owned 792 36.3
    Rented 575 26.3
    Other tenure type 5 0.2
    Tenure Type
Census 2011, ABS
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