Suburb Profile Report for Lower Plenty VIC (3093)

Lower Plenty House: Median price $925,000, Annual capital growth 5.17%, Number of sales 32, Weekly median advertised rent $580

Lower Plenty Unit: Median price $542,500, Annual capital growth 5.07%, Number of sales 18, Weekly median advertised rent $385

  • 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

Property value increases in Lower Plenty have tracked just lower than the VIC average of -1.79% over the last 12 months.

Across a shorter period, Lower Plenty, 3093 has seen a median price increase of -9.31% over the last quarter.

LACK OF BUYER INTEREST may well be the reason that Lower Plenty is offering property investors an average of -6.90. This rate of discount on properties puts Suburb at number 23th in terms of most discounted suburbs in VIC

Lower Plenty, 3093’s gross rental yield is 3.26%

Investment property in Lower Plenty has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -6.47%

If we look at median property appreciation over just the last three months, Lower Plenty has given property investors a paper return of 19.23%. This puts Suburb as 6 on a list of fastest fasting appreciating suburbs in VIC

Lower Plenty3093 is located in VIC which offers an average discount of -6.31% to property investors. Lower Plenty itself is showing figures that indicate -9.20% is the average achievable by property buyers investing in the suburb.

At number 559 in a list of fastest selling suburbs, Lower Plenty is just in the top half of suburbs in Australia with an average of days on market 75.4 for properties listed there.

Using the current median advertised rental of $385 and the average annual increase in value of a median property of 5.07%, investors should hope to achieve an overall return of 3.69%

Metrics i HOUSE UNIT
$925,000 $542,500
-9.31% 19.23%
-9.62% -6.47%
5.17% 5.07%
$580 $385
32 18
3.26% 3.69%
90.4210526315789 75.4

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 : Above average (H), Very good (U)
Find a mortgage broker in Lower Plenty VIC
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