Thinking about buying in Lorne? Now could not be a better time, with just 154 residential dwellings it's a highly sought after location. The average property price in this area is in the region of $1,075,000 with prices in this suburb ranging from $309,000 to $1,903,000. Lorne is located fairly close to the coast at just 7Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.
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Consistent high demand relative to supply is a key feature in Lorne driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. Incomes in Lorne are above average indicating a preference for good quality housing and lifestyle. That ensures consistent price growth. A mix of professions and above average income earners in Lorne provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Lower than average population density constrains growth in Lorne to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. With very low industrial sector presence in Lorne the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.
985 ERSKINE FALLS RD, LORNE, VIC, 3232 | $3,700,000 Plus GST |
Hannam Vale Public School
(While the above schools are located with the suburb of Lorne there may also be nearby schools whose catchments cover this suburb)Incidents Trend State Average
(mm) RAIN | Min (°C) TEMP | Max (°C) TEMP | Min (%) HUMIDITY | Max (%) HUMIDITY | (m/sec) WIND | (MJ/sq m) SOLAR | |
---|---|---|---|---|---|---|---|
Jan | 1.5 | 14.3 | 24.2 | 50.6 | 89.8 | 4.7 | 24.5 |
Feb | 1.0 | 14.9 | 23.4 | 55.3 | 89.8 | 4.4 | 19.6 |
Mar | 1.4 | 14.0 | 22.1 | 53.7 | 89.7 | 4.3 | 15.1 |
Apr | 1.3 | 11.8 | 19.6 | 55.9 | 91.1 | 4.2 | 11.4 |
May | 2.2 | 9.8 | 16.4 | 60.7 | 91.6 | 4.7 | 8.4 |
Jun | 2.1 | 8.0 | 14.1 | 66.4 | 92.7 | 4.7 | 7.1 |
Jul | 2.4 | 7.3 | 13.5 | 64.2 | 91.8 | 5.2 | 7.5 |
Aug | 2.0 | 7.3 | 14.4 | 59.2 | 91.6 | 5.2 | 10.1 |
Sept | 1.9 | 8.4 | 16.7 | 53.2 | 90.6 | 5.0 | 14.3 |
Oct | 1.9 | 9.7 | 18.9 | 52.0 | 90.3 | 4.7 | 19.2 |
Nov | 1.8 | 11.3 | 20.7 | 52.3 | 90.8 | 4.6 | 22.1 |
Dec | 1.4 | 12.4 | 22.3 | 52.2 | 90.3 | 4.5 | 25.1 |
source: Australian Government Bureau of Meteorology
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