Norlane

POSTAL CODE: VIC, 3214

HOUSE

UNIT

NORLANE ranks 224th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.

The suburb’s capital gain of 7.61% for the past year is higher than average compared to its 32% growth within a five-year period.

Also in NORLANE, the median home price is sitting at $495,000, and the average rent at $400, this suggests property owners could potentially earn a 4.2% increase in gross rental yield.

Property investors have seen a 4.21% gain in NORLANE based on an increase in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 9.13% growth over a ten-year period. It ranks 438th on our list of suburbs that property investors should look into.

A steady increase in median property prices over a five-year period in NORLANE, 3214 translates to a -5.7% capital gain.

NORLANE, 3214 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 $438,500.

Augmented property values in NORLANE are trailing above the VIC average of 2.9% for the past year.

Real estate investors could earn a rental income of $410 based on current median home prices for the suburb.

Home owners selling their properties and realtors in NORLANE usually have to wait an average of 28.3 days days before their assets are lifted off the market.

NORLANE ranks 121st on the list of best yielding suburbs for rental properties in VIC, posting a 4.86% return.

NORLANE, 3214 places 208th in Australia based on median property value growth during the quarter.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$495,000	$438,500
Growth Report
Median Quarterly	4.21%	0.8%
Median 12 month	7.61%	12.44%
Median 3 years	3.13%	-5.7%
Median 5 years	32%	31.88%
10 years average annual	9.13%	7.87%
Weekly media advert. rent	$400	$410
Time on Market	48.2 days	28.3 days
Gross Rental Yield Percent	4.2%	4.86%

Demographics (Median Values)*

Total Population 23964

Weekly Household Income 828

Household Size 2.40

Average Age 36

Monthly Loan Repayment 1127

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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