Located in Victoria within the Ballarat local government area, Lake Gardens is a close-knit residential community (postcode 3355). It is home to about 1,801 residents, with a mature demographic and a median age of 51. Households earn a median income of $80K per year, with an average household size of 2.3 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.7% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Irish.
Lake Gardens has a median house price of $745,000, which has fallen by 5.1% year-on-year. The current median weekly rent is $420. This gives a gross rental yield of approximately 2.9%. The median monthly mortgage repayment is $1,733.
Lake Gardens is served by 2 schools, including 1 secondary, 1 special. The average ICSEA score is 983, which is around the national average of 1,000. Public transport access includes 6 bus stops. The crime rate in the Ballarat LGA is higher than average at 11,695 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 2.9% (low yield). Property prices are near the state median ($745K/$875K). The price-to-income ratio of 9.3x is considered moderate. House prices have moved -5.1% year-on-year. Population growth of +1.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.