Suburb Profile Report for Laverton VIC (3028)

Laverton House: Median price $528,750, Annual capital growth 5.60%, Number of sales 77, Weekly median advertised rent $350

Laverton Unit: Median price $475,000, Annual capital growth 9.25%, Number of sales 12, Weekly median advertised rent $370

  • 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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Property value increases in Laverton have tracked lower than the VIC average of 2.87% over the last 12 months.

Taking the average capital gain, or increase in median house value, Laverton,3028 has racked up an average of -8.84% over the period. This ranks it number 862th in the whole country for real estate investors looking at median house price increases.

LACK OF BUYER INTEREST may well be the reason that Laverton is offering property investors an average of -6.51. This rate of discount on properties puts Suburb at number 337th in terms of most discounted suburbs in VIC

In the last year 77 properties changed hands in Laverton, which puts it as the 301th most active market in VIC when comparing the number of sales per suburb.

Situated 17.45km from the CBD, Laverton is one of Hobsons Bay (C) localities in the postcode 3028.

Investment property in Laverton has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 11.57%

Across a shorter period, Laverton, 3028 has seen a median price increase of 9.01% over the last quarter.

In the last year 12 properties changed hands in Laverton, which puts it as the 354th most active market in VIC when comparing the number of sales per suburb.

Advertised rents are around the $370 mark per week – giving a return of 4.05% based on the median price in Suburb

Information supplied by:




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Laverton, VIC – Sharp drop in vacancies

Postcode: 3028

Median house price: $535,000

Vacancy rate: 2.3%

Three-year growth: 6.6%

A part of both the Hobsons Bay and Wyndham LGAs, the small suburb of Laverton is known for its cultural diversity, which has helped attract a population of young working professionals. In the year to November 2019, the average vacancy rate dropped to 2.3%.

Properties are reasonably priced in this suburb – a big advantage especially for buyers who don’t have a lot saved up but want to be close to the CBD. It is connected to numerous access points as well, including the Princes Highway. The Laverton train station is a stop along the Werribee railway line.

The suburb is home to the Melbourne Ballpark stadium, which hosts several baseball games throughout the season.

Metrics i HOUSE UNIT
$528,750 $475,000
0.43% 9.01%
-8.84% 11.57%
5.60% 9.25%
$350 $370
77 12
3.44% 4.05%
89.6724137931034 91.76

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), Above average (U)
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Demographics
Total population 4064
Median household income ($/weekly) 953
Median age of persons 31
Median housing loan repayment ($/monthly) 1300
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 419 10.3
    20-24 years 448 11.0
    25-34 years 942 23.2
    35-44 years 511 12.6
    45-54 years 491 12.1
    Others 1253 30.8
    Age Group
    Census Count Percent(%)
    Not Married 1748 55.6
    Registered Married 1202 38.3
    Defacto Relationship 192 6.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 1918 50.7
    Indonesia 571 15.1
    Philippines 105 2.8
    United Kingdom 139 3.7
    Other 445 11.8
    Others 603 15.9
    Country of Birth
    Census Count Percent(%)
    Christianity 2081 56.5
    Hinduism 277 7.5
    Islam 152 4.1
    Other Religious Groups 313 8.5
    No Religion 727 19.7
    Others 136 3.7
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 136 10.7
    $600-$799 199 15.7
    $800-$999 140 11.0
    $1,000-$1,249 138 10.9
    $1,500-$1,999 161 12.7
    Others 494 39.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1267 40.2
    Employed, worked full-time 976 31.0
    Employed, worked part-time 577 18.3
    Unemployed, looking for work 200 6.3
    Employed, away from work 132 4.2
    Person Characteristics
  • Census Count Percent(%)
    Professionals 180 10.7
    Technicians & trades workers 252 14.9
    Clerical & administrative workers 205 12.2
    Machinery operators & drivers 252 14.9
    Labourers 352 20.9
    Others 446 26.4
    Occupation
    Census Count Percent(%)
    Infants/Primary 222 22.4
    Secondary 216 21.8
    Technical or Further Educational Institution 189 19.0
    University or other Tertiary Institutions 176 17.7
    Other type of educational institution 155 15.6
    Others 35 3.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3500 90.8
    Flat, unit or apartment 226 5.9
    Semi-detached, row or terrace house, townhouse 121 3.1
    House or flat attached to a shop, office 7 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 593 43.3
    Being purchased 404 29.5
    Fully owned 367 26.8
    Other tenure type 5 0.4
    Tenure Type
Census 2011, ABS
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