Suburb Profile Report for Lara VIC (3212)

Lara House: Median price $430,000, Annual capital growth 4.97%, Number of sales 229, Weekly median advertised rent $360

Lara Unit: Median price $318,500, Annual capital growth 5.22%, Number of sales 26, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report

Lara, 3212 ranked 290th in VIC when comparing growth in median property values or capital gain over the last 12 months. Lara is one of 2098 in our list for VIC

Comparing Lara,3212 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -3.33% offered to property buyers. Sellers in Lara itself are offering an average vendor discount of -2.68% to real estate investors.

At number 37 in a list of fastest selling suburbs, Lara is in the TOP 10% of suburbs in Australia with an average of days on market 7.29 for properties listed there.

Using the current median advertised rental of $360 and the average annual increase in value of a median property of 4.97%, investors should hope to achieve an overall return of 4.35%

Lara has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 9.64% to date .

The five-year average increase in median property values for Lara,3212 has given property investors a potential capital gain of 23.09% across each of those five years.

Advertised rents are around the $300 mark per week – giving a return of 4.90% based on the median price in Suburb

Metrics i HOUSE UNIT
$430,000 $318,500
4.24% 0.63%
14.67% 9.64%
4.97% 5.22%
$360 $300
229 26
4.35% 4.90%
7.29 N/A

Source: CoreLogic

DSR Score for property investment : Very good (H), Very good (U)
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Demographics
Total population 13845
Median household income ($/weekly) 1399
Median age of persons 36
Median housing loan repayment ($/monthly) 1625
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 1965 14.2
    25-34 years 1872 13.5
    35-44 years 2349 17.0
    45-54 years 1890 13.7
    55-64 years 1565 11.3
    Others 4204 30.4
    Age Group
    Census Count Percent(%)
    Registered Married 5154 54.2
    Not Married 3424 36.0
    Defacto Relationship 937 9.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 11269 84.3
    New Zealand 117 0.9
    Philippines 199 1.5
    United Kingdom 808 6.0
    Other 227 1.7
    Others 755 5.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 121 1.0
    Christianity 8595 71.1
    Islam 68 0.6
    Other Religious Groups 48 0.4
    No Religion 3227 26.7
    Others 34 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 379 9.2
    $1,000-$1,249 383 9.3
    $1,500-$1,999 667 16.2
    $2,000-$2,499 528 12.8
    $2,500-$2,999 377 9.1
    Others 1795 43.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 4081 38.5
    Not in the labour force 3740 35.3
    Employed, worked part-time 2070 19.5
    Employed, away from work 412 3.9
    Unemployed, looking for work 288 2.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1022 15.6
    Technicians & trades workers 1142 17.4
    Community & personal service workers 697 10.6
    Clerical & administrative workers 953 14.5
    Sales 683 10.4
    Others 2063 31.4
    Occupation
    Census Count Percent(%)
    Pre-school 270 8.0
    Infants/Primary 1269 37.7
    Secondary 1083 32.2
    Technical or Further Educational Institution 298 8.9
    University or other Tertiary Institutions 333 9.9
    Others 110 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 11942 95.2
    Semi-detached, row or terrace house, townhouse 251 2.0
    Flat, unit or apartment 318 2.5
    Caravan, cabin, houseboat 14 0.1
    House or flat attached to a shop, office 9 0.1
    Others 6 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2145 47.6
    Fully owned 1376 30.5
    Rented 959 21.3
    Other tenure type 25 0.6
    Tenure Type
Census 2011, ABS
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