Suburb Profile Report for Norlane VIC (3214)

Norlane House: Median price $356,000, Annual capital growth 9.17%, Number of sales 213, Weekly median advertised rent $265

Norlane Unit: Median price $290,000, Annual capital growth 7.83%, Number of sales 22, Weekly median advertised rent $280

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

With a capital gain of 23.26% for the last 12 months, Norlane, 3214 has performed for property investments than its average annual 9.15% property growth over the last 5 years.

Taking the average capital gain, or increase in median house value, Norlane,3214 has racked up an average of 23.26% over the period. This ranks it number 84th in the whole country for real estate investors looking at median house price increases.

Norlane, 3214 is offering VIC ‘s 477th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this VIC.

Often selling an investment property can take time, and in Norlane the average time real estate has been on the market is 34.68 days.

Advertised rents are around the $260 mark per week – giving a return of 3.81% based on the median price in Suburb

Norlane has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 12.06% to date .

A 27.00% growth in median value for property investors in Norlane,3214 puts this suburb at number 119th in terms of best performing suburbs in VIC

Norlane, 3214 is offering VIC ‘s 89th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this VIC.

In the last year 26 properties changed hands in Norlane, which puts it as the 228th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Norlane being $285750 and the advertised rent reaching $287.5 the gross rental yield for property investors calculates out to be 5.23%

Metrics i HOUSE UNIT
$356,000 $290,000
0.99% 3.57%
22.76% 7.81%
9.17% 7.83%
$265 $280
213 22
3.87% 5.02%
32.78857 43

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 8011
Median household income ($/weekly) 625
Median age of persons 39
Median housing loan repayment ($/monthly) 1083
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 984 12.3
    25-34 years 927 11.6
    35-44 years 1026 12.8
    45-54 years 1038 13.0
    55-64 years 961 12.0
    Others 3076 38.4
    Age Group
    Census Count Percent(%)
    Not Married 3527 58.5
    Registered Married 1992 33.1
    Defacto Relationship 506 8.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 5561 74.4
    Egypt 183 2.4
    Germany 165 2.2
    United Kingdom 275 3.7
    Other 418 5.6
    Others 870 11.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 155 2.2
    Christianity 4717 65.6
    Islam 178 2.5
    Other Religious Groups 69 1.0
    No Religion 2046 28.5
    Others 26 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $200-$299 272 9.1
    $300-$399 505 16.8
    $400-$599 522 17.4
    $600-$799 462 15.4
    $800-$999 298 9.9
    Others 946 31.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 3270 54.0
    Employed, worked full-time 1297 21.4
    Employed, worked part-time 837 13.8
    Unemployed, looking for work 423 7.0
    Employed, away from work 224 3.7
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 389 16.5
    Community & personal service workers 270 11.5
    Sales 245 10.4
    Machinery operators & drivers 339 14.4
    Labourers 577 24.5
    Others 533 22.7
    Occupation
    Census Count Percent(%)
    Pre-school 105 6.7
    Infants/Primary 574 36.8
    Secondary 487 31.2
    Technical or Further Educational Institution 185 11.9
    Other type of educational institution 109 7.0
    Others 99 6.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6852 89.3
    Flat, unit or apartment 521 6.8
    Semi-detached, row or terrace house, townhouse 293 3.8
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1574 48.5
    Fully owned 984 30.3
    Being purchased 665 20.5
    Other tenure type 24 0.7
    Tenure Type
Census 2011, ABS
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