Fraud Blocker

Longlea, VIC 3551

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Longlea, VIC 3551 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

Upgrade to Professional Plan to see the score

Capital Growth RCS™

Upgrade to Professional Plan to see the score

Cashflow RCS™

Upgrade to Professional Plan to see the score

FREE Investment Property Checklist

Secure your golden ticket to property investment success! Get our meticulously crafted Property Investment Checklist upon subscribing to our newsletter. It’s jam-packed with valuable insights from prime locations to specific building nuances.

Essentials
No Price Data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

No Rent Data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

Upgrade to Personal Plan to see Yield data.
Yield chart
Upgrade to Professional Plan to see Growth Rate Cycle data.
GRC chart
Fundamentals
Upgrade to Personal Plan to see IRSAD data.
IRSAD chart
Upgrade to Personal Plan to see U|H and R|O data.
Renters to owners pie chart
Upgrade to Personal Plan to see U|H and R|O data.
unit to houses pie charts
Upgrade to Personal Plan to see Demand Profile data.
Demand chart
Upgrade to Professional Plan to see Affordability Index data.
Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

Upgrade to Professional Plan to see Stock On Market trend.
SOM chart
Upgrade to Professional Plan to see Inventory trend.
Inventory chart
Upgrade to Professional Plan to see Building Approvals trend.
Inventory chart
Upgrade to Professional Plan to see Hold Period trend.
Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

Upgrade to Professional Plan to see Days On Market trend.
DOM chart
Upgrade to Professional Plan to see Vacancy Rate trend.
Inventory chart
Upgrade to Professional Plan to see Search Index trend.
Index chart
Upgrade to Professional Plan to see Clearance Rate trend.
Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

Have a question? You can either leave a comment below or post it on our forum.

0 thoughts on “Longlea, VIC 3551”

  1. The total adult population (15 years or older) of Longlea 3551 VIC is 440, with a median age of 43. Of those, 62.95% are married, 8.86% are divorced or separated, 24.55% are single and 3.41% are widowed.

    The average household size is 2.9 people per dwelling, and the median household monthly income is estimated to be $9,580. The median monthly mortgage repayment for households in this suburb is $1,733 which is 18.09% of their earnings.

    Source: ABS Census Data (2021)

  2. Longlea, a suburb situated in Victoria (VIC), boasts an estimated 226 households. As we enter the 3rd quarter of 2023, the real estate market for houses in Longlea offers an interesting tableau for property investors and buyers alike.

    With house prices in Longlea currently sitting at an average of $914,427, and median weekly rents figured at $400, an indicative yield of 2.27% emerges. While this yield is slightly below the 3% benchmark, which is often regarded as the minimum attractive market requirement for cashflow-focused property investors, it warrants consideration when viewed in conjunction with other factors.

    Longlea lays claim to an impressive IRSAD score of 1032 out of a maximum 1217. Such a high score undoubtedly signifies the suburb’s commendable socio-economic status, often associated with access to economic resources, high income levels and a concentration of skilled professionals.

    With a renter to owner ratio coming in at a mere 5%, rental property saturation is remarkably low. This suggests lower competition among landlords for tenants, potentially leading to higher rental yields. Accompanied by a units to houses ratio marked at 0%, the dominance of houses in the property market is pronounced. This, in turn, suggests stability as it limits the risk associated with oversupply of units – a scenario that could have wide-reaching impacts such as potential price drops.

    However, on the aspect of affordability, it requires an estimated 37 years for a median family income to fully own a house, considerably higher than the standard 30-year mortgage rate. This indicates relatively lower affordability in Longlea’s property market, possibly dampening appeal for potential buyers.

    Regarding supply metrics, the stock on market Percentage sits at 0.88% – a neutral figure that doesn’t flag any significant oversupply or scarcity. The 3.0-month reading of the inventory metric furthers the assertion of neutral supply conditions, as well as the building approvals Ratio coming in at a moderate 0.44%.

    Turning to demand-side metrics, houses in Longlea spend an average of just 28 days on the market, thus indicating a high demand. It’s worth noting, however, that the vacancy rate stands at an elevated 8.33%, suggesting a possible oversupply of properties, the higher percentage perhaps attributed to the combined figures for both houses and units.

    Lastly, with a buy search index for houses scoring at 3, Longlea’s property demand within the state is rated as neutral, despite showing a slightly lower level of interest.

    In conclusion, while Longlea presents some excellent socio-economic figures and an evident potential for high rental yields, considerations such as affordability and supply-demand balance should also be taken into account before making investment decisions. As always, valuable insight can be drawn from powerful tools such as HtAG Analytics’ Relative Composite Score which integrates over 80 metrics to facilitate detailed market research.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

Leave a comment