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Lovely Banks, VIC 3213

Home » VIC Real Estate Data » Greater Geelong City, VIC » Lovely Banks, VIC 3213

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 Lovely Banks, VIC 3213 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.

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Capital Growth RCS™

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Cashflow RCS™

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Yield chart
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Fundamentals
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Renters to owners pie chart
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unit to houses pie charts
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Supply

Stock on Market

Inventory

Hold Period

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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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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.

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0 thoughts on “Lovely Banks, VIC 3213”

  1. The total adult population (15 years or older) of Lovely Banks 3213 VIC is 2,296, with a median age of 37. Of those, 48.04% are married, 10.02% are divorced or separated, 38.50% are single and 3.35% are widowed.

    The average household size is 2.9 people per dwelling, and the median household monthly income is estimated to be $8,744. The median monthly mortgage repayment for households in this suburb is $1,747 which is 19.98% of their earnings.

    Source: ABS Census Data (2021)

  2. Encompassed within the state of Victoria (VIC), LOVELY BANKS 3213 is a charming suburb boasting approximately 1,261 households. As we delve into the third quarter of 2023, we see the housing market in LOVELY BANKS 3213 demonstrating an engaging dynamic.

    Expressing a view of the market, the typical house price in this region stands at $776,743 and mirrors a median weekly rent of $499. These figures combine to produce an indicative yield of 3.34%, an outcome which surpasses the minimum market attractive yield of 3%, appearing enticing to many property investors whose focus lies in attaining strong cash flows from their investments.

    Delving deeper into the socio-economic elements of the area, the IRSAD score for LOVELY BANKS 3213 is calculated at 961 out of a possible 1217, illuminating an area of capable economic resources and fluent access to advanced professions. High IRSAD scores correspond to prosperous living conditions, undoubtedly favourable for property investments.

    Furthermore, the suburbs renter to owner ratio sits at a comfortable 13%, providing market stability against over-saturated rental markets which can inversely impact long-term returns. A figure of this value suggests a balanced mix of long-term residents and renters which may elevate the overall vibe and desirability of the neighbourhood.

    Adding another layer of charm to LOVELY BANKS 3213, the unit to house ratio also stands at 13%. This lowers the occurrence of market saturation by rental units, minimising competition among landlords for tenants, and in turn, holds the potential to maintain attractive rental yields. This ratio also draws the likelihood of attracting more families seeking houses over units, promoting long tenancy periods.

    While the typical house price in LOVELY BANKS 3213 may surmount the national average, the affordability index for houses stands at 35 years. This signifies a higher duration estimated for complete property ownership, slightly exceeding the preferred 30-year benchmark. However, the solidity of the other market aspects balances this factor.

    Supply metrics reveal enticing results. With a stock on market percentage of 0.1%, supplies lean towards the lower side, creating favourable conditions. This reflects a lower ratio of unsold stock to total dwellings in the area. Moreover, the suburb holds an impressive inventory level of 0.63 months, also denoting a favourable low supply market.

    Despite a building approvals ratio of 3.4% suggesting a slight surge in supply of new dwelling stock, the average number of days houses remain listed on market depicts a strong demand standing at 65 days, a figure below the threshold for low demand status.

    To cap it all off, LOVELY BANKS 3213 exhibits an ideal vacancy rate of 1.19% and a buy search index of 4, though neutral, these readings add to the suburb’s attractiveness as a prosperous market, underpinning a decent demand with great potential.

    While analysing such markets, it is crucial to not only consider metric values but understand their trend as well. Stay informed about the ongoing market status to reap substantial returns on your property investments. Lastly, HtAG’s new RCS (Relative Composite Score) metric allows automatic reports on property markets, based on over 80 metrics. Keep an eye on this for a comprehensive market picture.

    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.

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