Suburb Profile Report for Lorne VIC (3232)

Lorne House: Median price $1,100,000, Annual capital growth 4.33%, Number of sales 37, Weekly median advertised rent N/A

Lorne Unit: Median price $507,500, Annual capital growth 2.65%, Number of sales 20, Weekly median advertised rent $445

  • 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

If you compare the increase in value of investment property in Lorne, 3232 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -7.64%.

When looking at the potential capital gains offered to property investors over the last 3 years, Lorne comes in at number 56th in VIC.

At number 379th of VIC’s most discounted properties, Lorne is in the TOP 40% of the state/territory when listing in order of most discounted to least.

Often selling an investment property can take time, and in Lorne the average time real estate has been on the market is 88.0833 days.

Investment property in Lorne has done 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 -21.92%

If we look at median property appreciation over just the last three months, Lorne has given property investors a paper return of -32.33%. This puts Suburb as 336 on a list of fastest fasting appreciating suburbs in VIC

Sellers are offering property buyers an average discount of -2.60% to buyers in Lorne at the moment, which is less than average for the rest of VIC.

Lorne is 121th on a list of best yielding suburbs for rents in VIC with a 4.56% return

Metrics i HOUSE UNIT
$1,100,000 $507,500
0.00% -32.33%
-7.64% -21.92%
4.33% 2.65%
N/A $445
37 20
N/A 4.56%
88.0833333333333 94

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), Above average (U)
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Demographics
Total population 1393
Median household income ($/weekly) 972
Median age of persons 49
Median housing loan repayment ($/monthly) 1600
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 133 9.5
    35-44 years 181 13.0
    45-54 years 200 14.4
    55-64 years 231 16.6
    65-74 years 178 12.8
    Others 470 33.7
    Age Group
    Census Count Percent(%)
    Registered Married 435 51.2
    Not Married 321 37.8
    Defacto Relationship 94 11.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 1042 84.8
    Papua New Guinea 20 1.6
    Philippines 12 1.0
    United Kingdom 65 5.3
    Other 32 2.6
    Others 58 4.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 12 1.0
    Christianity 653 57.0
    Hinduism 6 0.5
    Judaism 9 0.8
    No Religion 459 40.1
    Others 6 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 54 13.0
    $600-$799 48 11.6
    $800-$999 52 12.6
    $1,000-$1,249 47 11.4
    $1,500-$1,999 41 9.9
    Others 172 41.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 418 40.7
    Employed, worked full-time 290 28.2
    Employed, worked part-time 242 23.5
    Employed, away from work 58 5.6
    Unemployed, looking for work 20 1.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 140 23.6
    Professionals 98 16.5
    Technicians & trades workers 97 16.4
    Sales 64 10.8
    Labourers 78 13.2
    Others 116 19.6
    Occupation
    Census Count Percent(%)
    Pre-school 21 9.6
    Infants/Primary 74 33.8
    Secondary 67 30.6
    Technical or Further Educational Institution 21 9.6
    University or other Tertiary Institutions 28 12.8
    Others 8 3.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 877 82.6
    Semi-detached, row or terrace house, townhouse 97 9.1
    Flat, unit or apartment 85 8.0
    Caravan, cabin, houseboat 3 0.3
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 231 49.3
    Rented 130 27.7
    Being purchased 105 22.4
    Other tenure type 3 0.6
    Tenure Type
Census 2011, ABS
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