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Lara
AREA REPORTS

Lara

Lara - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3212

house
unit

LARA, 3212 ranks 2733rd on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 18.1% for property investors.

Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.

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 $672,000.

The upward trend in home prices in LARA, 3212 averaged 9.91% per annum over a 3-year period.

Average weekly rents on listings have reached the $460 mark, reflecting a 3.56% increase in returns based on the current median price in LARA.

An average of 23.5 real estate transactions take place per month in LARA which translates to 282 per annum.

282 properties were sold in LARA in 2016, making it the 373rd most active market in VIC based on total real estate transactions.

LARA, 3212 places 343rd in Australia based on median property value growth during the quarter.

Data report can be found below

Lara
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $672,000 $473,500
GROWTH REPORT
Median Quarterly 4.17% 4.07%
Median 12 month 18.1% 26.27%
Median 3 years 29.73% 35.29%
Median 5 years 71.1% 63.28%
10 years average annual 6.93% 5.6%
Weekly media advert. rent $460 $365
Time on Market 22.5 days 15.6 days
Gross Rental Yield Percent 3.56% 4.01%
demographics (median values)*
Total Population
16652
Weekly Household Income
1557
Household Size
2.80
Age
37
Monthly Loan Repayment
1690
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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