Suburb Profile Report for Norlane VIC (3214)

Norlane House: Median price $341,000, Annual capital growth 8.46%, Number of sales 164, Weekly median advertised rent $280

Norlane Unit: Median price $290,000, Annual capital growth 4.85%, Number of sales 18, Weekly median advertised rent $290

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

Source: Monthly data update for Jan 2020 as supplied by CoreLogic. Data is reported to the period ending Oct 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

With a capital gain of -3.94% for the last 12 months, Norlane, 3214 has performed for property investments than its average annual 8.46% property growth over the last 5 years.

While Norlane,3214 ranked number 618th in VIC for increase in median house value (annualised) increase, it is ranked 40th over the last 5 years.

Property investors looking for a bargain in Norlane should be aiming for at least -9.68% off the asking price, which is the average vendor discount being achieved at the moment.

The VIC suburb of Norlane, 3214 is in the Greater Geelong (C) local government area.

Norlane, 3214 ranked 137th in VIC when comparing growth in median property values or capital gain over the last 12 months. Norlane is one of 2099 in our list for VIC

When looking at the potential capital gains offered to property investors over the last 3 years, Norlane comes in at number 57th in VIC.

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 Norlane, 3214. Typically our figures indicate that -11.88% is being offered, which puts this VIC suburb at 14th most discounted overall in Australia.

Often selling an investment property can take time, and in Norlane the average time real estate has been on the market is 107.824 days.

Norlane is 53th on a list of best yielding suburbs for rents in VIC with a 5.20% return

Metrics i HOUSE UNIT
$341,000 $290,000
-2.57% -1.69%
-3.94% 3.57%
8.46% 4.85%
$280 $290
164 18
4.27% 5.20%
73.4861111111111 107.823529411765

Source: Monthly data update for Jan 2020 as supplied by CoreLogic. Data is reported to the period ending Oct 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (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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