Suburb Profile Report for Wallan VIC (3756)

Wallan House: Median price $481,500, Annual capital growth 6.28%, Number of sales 159, Weekly median advertised rent $360

Wallan Unit: Median price $330,000, Annual capital growth 4.38%, Number of sales 22, Weekly median advertised rent $320

  • 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.

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  • House Report
  • Unit Report

Property value increases in Wallan have tracked just higher than the VIC average of -1.79% over the last 12 months.

When looking at the potential capital gains offered to property investors over the last 3 years, Wallan comes in at number 101th in VIC.

Property investors looking for a bargain in Wallan should be aiming for at least -8.11% off the asking price, which is the average vendor discount being achieved at the moment.

On average over the past year, suburb has had 13.25 sales per month, which equates to 159 per year.

Property investors who have had real estate in Wallan, 3756 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 0.23%

Wallan,3756 was ranked 435 in Australia by increase in median property value over the quarter.

Property buyers and investors in Wallan 3756 should be seeing an average reduction in asking price of around -6.80% . This means that Wallan is holding prices well when compared to other suburbs in VIC.

At number 323 in a list of fastest selling suburbs, Wallan is in the TOP 30% of suburbs in Australia with an average of days on market 65.2857 for properties listed there.

With the median price for a house in Wallan being $330000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 5.04%

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
$481,500 $330,000
-1.28% 1.54%
0.31% 0.23%
6.28% 4.38%
$360 $320
159 22
3.89% 5.04%
71.7315436241611 65.2857142857143

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 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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