Suburb Profile Report for Lang Lang VIC (3984)

Lang Lang House: Median price $491,250, Annual capital growth 6.42%, Number of sales 26, Weekly median advertised rent $338

  • 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.

  • Expert Report
  • House Report

Investment property in Lang Lang has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.97%

Lang Lang,3984 has offered an average of 7.97% return per annum in house price rises to property investors over the last three years.

Sellers are offering property buyers an average discount of -9.65% to buyers in Lang Lang at the moment, which is less than average for the rest of VIC.

In the last year 26 properties changed hands in Lang Lang, which puts it as the 534th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Lang Lang being $491250 and the advertised rent reaching $337.5 the gross rental yield for property investors calculates out to be 3.57%

Information supplied by:


March 2017

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Farm town offers affordability with growth

Median house price: $360,000

Three-year growth: 33.33%

Rental yield: 4.69%

Just off the South Gippsland Highway, the small suburb of Lang Lang is known for producing the biggest crops of asparagus in the southern hemisphere.

Houses are inexpensive here at a median price of $360,000, despite strong and consistent growth over the past five years. The average rental return generated is also reasonably high at nearly 5%. Those looking to sell do not have to offer high discounts, thus increasing profit.

The suburb is right on the Lang Lang River and cultivates a thriving agricultural industry that also includes beef and dairy farming. There is an annual rodeo held in town, a tradition dating back to the 1940s. The suburb is home to a golf course as well. 

Cranbourne is approximately 30 minutes away via the highway, and buses run from the Comfort Station Bus Interchange all the way to Melbourne.

Metrics i HOUSE UNIT
$491,250 N/A
-0.76% N/A
7.97% N/A
6.42% N/A
$338 N/A
26 N/A
3.57% N/A
104.407407407407 N/A

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), Balanced (U)
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Demographics
Total population 1346
Median household income ($/weekly) 915
Median age of persons 38
Median housing loan repayment ($/monthly) 1343
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 201 14.9
    25-34 years 137 10.2
    35-44 years 186 13.8
    45-54 years 179 13.3
    55-64 years 160 11.9
    Others 483 35.9
    Age Group
    Census Count Percent(%)
    Registered Married 482 48.4
    Not Married 387 38.9
    Defacto Relationship 126 12.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 1173 90.0
    New Zealand 12 0.9
    Papua New Guinea 10 0.8
    United Kingdom 57 4.4
    Other 12 0.9
    Others 39 3.0
    Country of Birth
    Census Count Percent(%)
    Christianity 790 66.6
    No Religion 390 32.9
    Buddhism 4 0.3
    Other Religious Groups 3 0.3
    Hinduism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 55 12.2
    $600-$799 56 12.4
    $800-$999 48 10.6
    $1,000-$1,249 46 10.2
    $1,500-$1,999 49 10.9
    Others 197 43.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 394 38.4
    Not in the labour force 374 36.5
    Employed, worked part-time 195 19.0
    Employed, away from work 38 3.7
    Unemployed, looking for work 25 2.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 83 13.2
    Technicians & trades workers 121 19.3
    Clerical & administrative workers 71 11.3
    Machinery operators & drivers 80 12.7
    Labourers 98 15.6
    Others 175 27.9
    Occupation
    Census Count Percent(%)
    Pre-school 30 9.5
    Infants/Primary 117 36.9
    Secondary 117 36.9
    Technical or Further Educational Institution 29 9.1
    University or other Tertiary Institutions 18 5.7
    Others 6 1.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1233 95.0
    Flat, unit or apartment 40 3.1
    Semi-detached, row or terrace house, townhouse 18 1.4
    House or flat attached to a shop, office 4 0.3
    Improvised home, tent, sleepers out 3 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 209 42.1
    Fully owned 191 38.4
    Rented 90 18.1
    Other tenure type 7 1.4
    Tenure Type
Census 2011, ABS
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