Suburb Profile Report for Norlane VIC (3214)

Norlane House: Median price $285,000, Annual capital growth 7.02%, Number of sales 211, Weekly median advertised rent $250

Norlane Unit: Median price $266,000, Annual capital growth 2.97%, Number of sales 28, Weekly median advertised rent $270

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

Source: CoreLogic

  • House Report
  • Unit Report

With a capital gain of 23.38% for the last 12 months, Norlane, 3214 has performed for property investments than its average annual 7.02% property growth over the last 5 years.

Norlane,3214 was ranked 370 in Australia by increase in median property value over the quarter.

State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.00% offered to property buyers. Sellers in Norlane itself are offering an average vendor discount of -4.08% to real estate investors.

Norlane, 3214’s gross rental yield is 4.56%

Norlane is in the TOP 20% in VIC when comparing median price capital growth over the last year. Norlane gave property investors a very good capital gain figure when compared to the rest of the state, with 15.65%.

If we look at median property appreciation over just the last three months, Norlane has given property investors a paper return of 7.47%. This puts Suburb as 42 on a list of fastest fasting appreciating suburbs in VIC

Our latest figures would indicate that property sellers in Norlane are currently offering property investors an average price cut of -6.33% below the asking price at the moment.

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

Metrics i HOUSE UNIT
$285,000 $266,000
7.55% 7.47%
23.38% 15.65%
7.02% 2.97%
$250 $270
211 28
4.56% 5.28%
36.89 86.21

Source: CoreLogic

DSR Score for property investment : Very good (H), Above average (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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