Suburb Profile Report for Varsity Lakes QLD (4227)

Varsity Lakes House: Median price $599,000, Annual capital growth 3.02%, Number of sales 159, Weekly median advertised rent $580

Varsity Lakes Unit: Median price $423,500, Annual capital growth 0.88%, Number of sales 184, Weekly median advertised rent $470

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Investment property in Varsity Lakes has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -0.17%

Taking the average capital gain, or increase in median house value, Varsity Lakes,4227 has racked up an average of -0.17% over the period. This ranks it number 2414th in the whole country for real estate investors looking at median house price increases.

Our latest figures would indicate that property sellers in Varsity Lakes are currently offering property investors an average price cut of -4.51% below the asking price at the moment.

Situated 78.59km from the CBD, Varsity Lakes is one of Gold Coast (C) localities in the postcode 4227.

QLD has seen average median house prices change by -0.57% which means that Varsity Lakes, 4227 has not done well for property investors by showing a capital gain of 2.05% over the last year

The five-year average increase in median property values for Varsity Lakes,4227 has given property investors a potential capital gain of 8.59% across each of those five years.

Vendor discounting in Varsity Lakes is giving property investors an average Vendor Discount of around -5.61%. This puts suburb at number 145th in QLD when ranking the most discounted suburbs.

Metrics i HOUSE UNIT
$599,000 $423,500
-0.17% 0.95%
-0.17% 2.05%
3.02% 0.88%
$580 $470
159 184
5.04% 5.77%
60.6 76.7538461538462

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Balanced (U)
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Demographics
Total population 14365
Median household income ($/weekly) 1136
Median age of persons 32
Median housing loan repayment ($/monthly) 2167
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 1866 13.0
    20-24 years 1430 10.0
    25-34 years 2350 16.4
    35-44 years 2174 15.1
    45-54 years 1615 11.2
    Others 4930 34.3
    Age Group
    Census Count Percent(%)
    Not Married 4692 46.4
    Registered Married 4163 41.2
    Defacto Relationship 1253 12.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 8770 65.5
    Croatia 257 1.9
    Papua New Guinea 1162 8.7
    United Kingdom 808 6.0
    Other 696 5.2
    Others 1703 12.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 335 2.6
    Christianity 8468 65.9
    Hinduism 124 1.0
    Islam 208 1.6
    No Religion 3574 27.8
    Others 142 1.1
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 457 9.9
    $600-$799 512 11.1
    $1,000-$1,249 450 9.8
    $1,500-$1,999 633 13.8
    $2,000-$2,499 449 9.8
    Others 2099 45.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3886 36.0
    Not in the labour force 3652 33.9
    Employed, worked part-time 2284 21.2
    Unemployed, looking for work 587 5.4
    Employed, away from work 372 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 769 11.8
    Professionals 1219 18.6
    Technicians & trades workers 934 14.3
    Clerical & administrative workers 946 14.5
    Sales 949 14.5
    Others 1727 26.4
    Occupation
    Census Count Percent(%)
    Pre-school 205 5.1
    Infants/Primary 1183 29.3
    Secondary 932 23.0
    Technical or Further Educational Institution 314 7.8
    University or other Tertiary Institutions 1301 32.2
    Others 109 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7540 57.7
    Semi-detached, row or terrace house, townhouse 3844 29.4
    Flat, unit or apartment 1667 12.8
    House or flat attached to a shop, office 18 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2345 46.8
    Being purchased 1678 33.5
    Fully owned 963 19.2
    Other tenure type 24 0.5
    Tenure Type
Census 2011, ABS
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