Suburb Profile Report for Wallan VIC (3756)

Wallan House: Median price $468,500, Annual capital growth 5.74%, Number of sales 189, Weekly median advertised rent $370

Wallan Unit: Median price $359,000, Annual capital growth 5.04%, Number of sales 25, Weekly median advertised rent $325

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

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

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  • House Report
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Property investors who have had real estate in Wallan, 3756 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -4.39%

Wallan,3756 has offered an average of -4.39% return per annum in house price rises to property investors over the last three years.

At number 192th of VIC’s most discounted properties, Wallan is in the bottom 40% of the state/territory when listing in order of most discounted to least.

Residents and property investors in Wallan have been waiting around 77.6503 days to sell a property.

Property investors should expect to get $370 weekly from the median priced house in this suburb.

Wallan, 3756 ranked 171th in VIC when comparing growth in median property values or capital gain over the last 12 months. Wallan is one of 2099 in our list for VIC

If we look at median property appreciation over just the last three months, Wallan has given property investors a paper return of 1.13%. This puts Suburb as 177 on a list of fastest fasting appreciating suburbs in VIC

The most recent median price for Wallan is $359000, with sellers offering an average of -5.54% off the asking price.

Using the current median advertised rental of $325 and the average annual increase in value of a median property of 5.04%, investors should hope to achieve an overall return of 4.71%

Information supplied by:


November 2018

M
O

W
E

Vendors have a ball

Postcode: 3756

Median unit price: $322,000

Three-year growth: 28.8%

Rental yield: 5.0%

A suburb located between the outer fringes of Melbourne and the countryside of north-central Victoria, semi-rural Wallan serves as a midway point between the city and fully rural towns like Kilmore, Broadford and Seymour.

This community-oriented suburb enjoys fresh produce, limited traffic and affordable properties. Nonetheless, it’s still close to the Craigieburn Central shopping complex and Epping Plaza via the Hume Highway. Wallan Primary School, which has an excellent reputation in the area, makes it home here.

Units are going strong in this suburb, with values soaring by 15% in the year to August 2018. Even then, the median price is very affordable at under $350,000 – making it a low-priced market with a lot of upside. The average discount rate is astoundingly low at an average of 0.9%, indicating that apartments sell at almost full price.

Metrics i HOUSE UNIT
$468,500 $359,000
-1.06% 1.13%
-4.39% 4.82%
5.74% 5.04%
$370 $325
189 25
4.11% 4.71%
77.6503067484663 64.5238095238095

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. 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 8502
Median household income ($/weekly) 1427
Median age of persons 32
Median housing loan repayment ($/monthly) 1762
Average household size 3
  • Census Count Percent(%)
    5-14 years 1471 17.3
    25-34 years 1178 13.9
    35-44 years 1464 17.2
    45-54 years 1167 13.7
    55-64 years 842 9.9
    Others 2382 28.0
    Age Group
    Census Count Percent(%)
    Registered Married 2979 52.6
    Not Married 2010 35.5
    Defacto Relationship 675 11.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 6802 85.9
    Japan 81 1.0
    Papua New Guinea 120 1.5
    United Kingdom 308 3.9
    Other 125 1.6
    Others 479 6.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 45 0.6
    Christianity 5354 70.9
    Islam 120 1.6
    Other Religious Groups 42 0.6
    No Religion 1948 25.8
    Others 47 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 251 10.9
    $1,250-$1,499 265 11.5
    $1,500-$1,999 381 16.6
    $2,000-$2,499 277 12.0
    $2,500-$2,999 200 8.7
    Others 925 40.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2678 45.9
    Not in the labour force 1586 27.2
    Employed, worked part-time 1121 19.2
    Employed, away from work 266 4.6
    Unemployed, looking for work 179 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 456 11.2
    Professionals 482 11.9
    Technicians & trades workers 782 19.2
    Clerical & administrative workers 651 16.0
    Machinery operators & drivers 426 10.5
    Others 1268 31.2
    Occupation
    Census Count Percent(%)
    Pre-school 174 7.9
    Infants/Primary 920 41.8
    Secondary 678 30.8
    Technical or Further Educational Institution 165 7.5
    University or other Tertiary Institutions 186 8.5
    Others 76 3.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7129 90.9
    Semi-detached, row or terrace house, townhouse 503 6.4
    Flat, unit or apartment 208 2.7
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1587 62.1
    Fully owned 528 20.7
    Rented 431 16.9
    Other tenure type 10 0.4
    Tenure Type
Census 2011, ABS
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