With a capital gain of -7.88% for the last 12 months, Lake Gardens, 3355 has performed for property investments than its average annual 6.04% property growth over the last 5 years.
Comparing Lake Gardens,3355 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
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 Lake Gardens, 3355. Typically our figures indicate that -5.22% is being offered, which puts this VIC suburb at 2530th most discounted overall in Australia.
Renters in Suburb are facing rents around $20800 per annum or $400 every week.
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Lake Gardens is a suburb on the rural-urban fringe of western Ballarat. It is roughly 3km from the centre of Ballarat, which itself is approximately 105km from Melbourne. Many residents work flexible hours in Melbourne locations, preferring the long drive to city living. Ballarat’s service industries, mines and small manufacturing sector are also prominent employers in the area.
Lake Gardens is situated by the town’s botanical gardens, set close to Lake Wendouree. The demand for property there is evident by the short time that properties are usually on the market – 66 days. This is despite a median house price of over $400,000, which is considered high for the area. The area’s desirability is also reinforced by its popularity with renters, with vacancies especially tight at 0.92%.
There is also a marginal level of stock on the market. Only 0.09% of the total properties in the suburb are up for sale, suggesting that strong demand is being met by a short supply of available property – an indication that prices could hike soon.