Suburb Profile Report for Varsity Lakes QLD (4227)

Varsity Lakes House: Median price $615,000, Annual capital growth 2.94%, Number of sales 150, Weekly median advertised rent $550

Varsity Lakes Unit: Median price $446,500, Annual capital growth 2.07%, Number of sales 501, Weekly median advertised rent $465

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

Source: CoreLogic

  • House Report
  • Unit Report

Property investors who have had real estate in Varsity Lakes, 4227 should be relatively unhappy with this QLD suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 2.50%

Varsity Lakes,4227 has offered an average of 2.50% return per annum in house price rises to property investors over the last three years.

At number 774th of QLD’s most discounted properties, Varsity Lakes is in the TOP 10% of the state/territory when listing in order of most discounted to least.

At number 619 in a list of fastest selling suburbs, Varsity Lakes is in the TOP 20% of suburbs in Australia with an average of days on market 45.13 for properties listed there.

With the median price for a house in Varsity Lakes being $615000 and the advertised rent reaching $550 the gross rental yield for property investors calculates out to be 4.65%

At number 1118th in the list of Australian suburbs ordered by increase in median house value over the last year, Varsity Lakes, 4227 is in the BOTTOM 40% with a property value increase of 0.79% recorded in median house prices.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Varsity Lakes has increased when compared to the 5 year average annual rate.

Property investors looking for a bargain in Varsity Lakes should be aiming for at least -4.72% off the asking price, which is the average vendor discount being achieved at the moment.

Property investors should expect to get $465 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$615,000 $446,500
0.00% -0.33%
2.50% 0.79%
2.94% 2.07%
$550 $465
150 501
4.65% 5.42%
45.13 62.78

Source: CoreLogic

DSR Score for property investment : Good (H), Good (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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Recent sales & rentals