Lorne

POSTAL CODE: VIC, 3232

HOUSE

UNIT

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

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,955,000.

The downward trend in home prices in LORNE, 3232 averaged -3.71% per annum over a 3-year period.

Average weekly rents on listings have reached the N/A mark, reflecting a N/A increase in returns based on the current median price in LORNE.

An average of 3.33 real estate transactions take place per month in LORNE which translates to 40 per annum.

40 properties were sold in LORNE in 2016, making it the 242nd most active market in VIC based on total real estate transactions.

LORNE, 3232 places 226th in Australia based on median property value growth during the quarter.

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $750,000.

Investors saw the median home price rise to $750,000.

The downward trend in home prices in LORNE, 3232 averaged -8.33% per annum over a 3-year period.

LORNE now ranks at the 372nd 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 LORNE are low, as opposed to average gains per annum over the past five years.

Real estate investors could earn a rental income of N/A 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 LORNE, homes and units usually stay on listing for an average of 69 days.

17 properties were sold in LORNE in 2016, making it the 288th most active market in VIC based on total real estate transactions.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,955,000	$750,000
Growth Report
Median Quarterly	2.89%	-10.98%
Median 12 month	2.36%	-36.17%
Median 3 years	-11.14%	-25%
Median 5 years	28.2%	3.88%
10 years average annual	9.44%	4.8%
Weekly media advert. rent	N/A	N/A
Time on Market	127.3 days	69 days
Gross Rental Yield Percent	0%	0%

Demographics (Median Values)*

Total Population 1114

Weekly Household Income 1257

Household Size 2.10

Average Age 53

Monthly Loan Repayment 2000

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

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