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Lucas, VIC 3350

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 Lucas, VIC 3350 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™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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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.

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

4 thoughts on “Lucas, VIC 3350”

  1. The total adult population (15 years or older) of Lucas 3350 VIC is 2,225, with a median age of 32. Of those, 48.76% are married, 11.82% are divorced or separated, 35.55% are single and 3.64% are widowed.

    The average household size is 2.8 people per dwelling, and the median household monthly income is estimated to be $8,672. The median monthly mortgage repayment for households in this suburb is $1,700 which is 19.60% of their earnings.

    Source: ABS Census Data (2021)

  2. Nestled in the state of Victoria, the suburb of LUCAS 3350 is home to an estimated 2,576 households. As we delve into the third quarter of 2023, the typical price for houses in LUCAS 3350 weighs in at $706,414. Coupled with a median weekly rent of $427, this equates to an indicative yield of just over 3.13%, which is in line with the minimum market requirement for cashflow-focused property investors.

    LUCAS scores an IRSAD rating of 1,016 out of 1,217, which reflects a relatively superior socio-economic status of its population. The renter to owner ratio stands at 34%, which while higher than the most favourable range, it is still lower than the threshold for questionable investments, thereby balancing the risk.

    Interestingly, in LUCAS, the units to houses ratio is 0%, indicating a strong appeal for families and longer tenancy periods, with less competition among landlords. In terms of affordability, however, the metric suggests it would take around 32 years for a full property ownership, signaling decreased affordability in the area.

    Supply indicators for houses present some caution with a 0.68% stock on market Percentage, falling in the neutral range. The inventory level edges slightly towards a higher supply situation with 2.49 months, but still remains in the favourable zone. The building approvals Ratio, however, hints at a potential supply increase with a 2.75%.

    Despite these supply indicators, demand seems quite balanced for houses in the area. The typical house spends 45 days on the market, which is slightly more than the desirable range but less than the level indicating low demand. The vacancy rate, combining both houses and units, is 1.93%, which falls within the neutral demand range.

    The house-specific buy search index rests at 4, close to the state/city average, reflecting neutral demand from potential homeowners. This paints a picture of LUCAS as a potential investment location, but it’s crucial to keep an eye on the fluctuations and flow of market dynamics. Following tools like HtAG Analytics’ Relative Composite Score (RCS) may assist potential property investors in this endeavour.

    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.

  3. Why Lucas is given a low RCS risk rating which is calculated mostly on environment factors ? It is not in Bush fire, flood or any other environmental risk. I would love to understand what I am missing here.

    • Hi Amit,

      Thank you for your question about the risk rating for Lucas, VIC 3350.

      It’s important to understand that risk is about more than just natural disasters, and here’s why.

      First, even though Lucas may not be bushfire or flood zone, the environmental part of our risk score includes other things. It also considers coastal/river erosion, high wind risk etc. as well as several other factors.

      Second, market risk part of the score also asks if jobs in Lucas depend too much on a few industries. If they do, and those industries are labour intensive and subject to transient workforce, it could be bad news for house prices.

      Finally, data risk is all about trust in what we know. If only a few houses are sold often, it’s harder to be sure about prices and other metrics. We watch this closely because more transactions mean more certainty and pinpoint a more active property market.

      Hope this explanation helps you see all the pieces that go into the calculation of the Lower Risk Score.

      It’s worth noting that these examples are just a snapshot of over 80 different metrics we analyse when we calculate risk. To protect our intellectual property, we keep the full list of these metrics under wraps.

      Feel free to learn more about Lower Risk RCS here.

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