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 $1,062,500.
The upward trend in home prices in LORNE, 3232 averaged 9.6% per annum over a 3-year period.
Average weekly rents on listings have reached the N/A mark, reflecting a 0% increase in returns based on the current median price in LORNE.
An average of 5.42 real estate transactions take place per month in LORNE which translates to 65 per annum.
65 properties were sold in LORNE in 2016, making it the 111th most active market in VIC based on total real estate transactions.
LORNE, 3232 places 624th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||35.26%||-37.13%|
|Median 3 years||28.79%||-25%|
|Median 5 years||28.79%||-37.76%|
|10 years average annual||4.38%||-3.82%|
|Weekly media advert. rent||N/A||N/A|
|Time on Market||114.8 days||125.2 days|
|Gross Rental Yield Percent||N/A||N/A|