Suburb Profile Report for Lower Plenty VIC (3093)

Lower Plenty House: Median price $1,023,500, Annual capital growth 7.21%, Number of sales 27, Weekly median advertised rent $470

Lower Plenty Unit: Median price $580,000, Annual capital growth 5.42%, Number of sales 35, Weekly median advertised rent $380

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

At number 1240th in the list of Australian suburbs ordered by increase in median house value over the last year, Lower Plenty, 3093 is in the top 40% with a property value increase of 8.31% recorded in median house prices.

Lower Plenty,3093 was ranked 227 in Australia by increase in median property value over the quarter.

Our latest figures would indicate that property sellers in Lower Plenty are currently offering property investors an average price cut of -5.29% below the asking price at the moment.

Using the current median advertised rental of $470 and the average annual increase in value of a median property of 7.21%, investors should hope to achieve an overall return of 2.39%

With a capital gain of 6.42% for the last 12 months, Lower Plenty, 3093 has performed for property investments than its average annual 5.42% property growth over the last 5 years.

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 Lower Plenty, 3093. Typically our figures indicate that -3.13% is being offered, which puts this VIC suburb at 1287th most discounted overall in Australia.

The VIC suburb of Lower Plenty, 3093 is in the Banyule local government area.

Metrics i HOUSE UNIT
$1,023,500 $580,000
7.96% N/A
8.31% 6.42%
7.21% 5.42%
$470 $380
27 35
2.39% 3.41%
46 53.2

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 3782
Median household income ($/weekly) 1588
Median age of persons 42
Median housing loan repayment ($/monthly) 2000
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 424 11.2
    25-34 years 445 11.8
    35-44 years 497 13.1
    45-54 years 540 14.3
    55-64 years 508 13.4
    Others 1368 36.2
    Age Group
    Census Count Percent(%)
    Registered Married 1461 52.6
    Not Married 1128 40.6
    Defacto Relationship 187 6.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 3080 84.1
    Japan 46 1.3
    Papua New Guinea 39 1.1
    United Kingdom 149 4.1
    Other 117 3.2
    Others 232 6.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 35 1.0
    Christianity 2302 68.5
    Hinduism 22 0.7
    Islam 33 1.0
    No Religion 950 28.2
    Others 21 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 99 8.1
    $1,250-$1,499 97 8.0
    $1,500-$1,999 143 11.8
    $2,000-$2,499 115 9.4
    $2,500-$2,999 156 12.8
    Others 607 49.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1148 37.4
    Not in the labour force 1084 35.3
    Employed, worked part-time 650 21.2
    Employed, away from work 126 4.1
    Unemployed, looking for work 65 2.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 359 18.7
    Professionals 528 27.5
    Technicians & trades workers 219 11.4
    Clerical & administrative workers 304 15.8
    Sales 189 9.9
    Others 319 16.6
    Occupation
    Census Count Percent(%)
    Pre-school 68 7.9
    Infants/Primary 274 31.6
    Secondary 248 28.6
    Technical or Further Educational Institution 57 6.6
    University or other Tertiary Institutions 195 22.5
    Others 24 2.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2743 80.3
    Semi-detached, row or terrace house, townhouse 542 15.9
    Flat, unit or apartment 130 3.8
    House or flat attached to a shop, office 3 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 575 42.7
    Being purchased 519 38.5
    Rented 242 18.0
    Other tenure type 11 0.8
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals