Lara

The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $380,000.

Average median unit prices in VIC have risen as a whole, pulling LARA, 3212 values up and netting property investors a capital gain of 1% for the past year.

Investors saw the median home price rise to $380,000.

The upward trend in home prices in LARA, 3212 averaged 6.62% per annum over a 3-year period.

LARA now ranks at the 145th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in LARA are low, as opposed to average gains per annum over the past five years.

Real estate investors could earn a rental income of $330 based on current median home prices for the suburb.

It is expected for properties to spend some time on the market prior to a successful sale. In LARA, homes and units usually stay on listing for an average of 44.2 days.

17 properties were sold in LARA in 2016, making it the 252nd most active market in VIC based on total real estate transactions.