Lake Wendouree (postcode 3350) is a smaller suburb in Victoria within the Ballarat local government area. It is home to about 2,878 residents, with a settled, mature resident base and a median age of 53. Households earn a median income of $102K per year, with an average household size of 2.2 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.
The median house price in Lake Wendouree is $1.3 million, having dipped slightly by 1.5% over the past year. Units have a median price of $495,000 (-5.7% YoY). The current median weekly rent is $420. This gives a gross rental yield of approximately 1.7%. The median monthly mortgage repayment is $2,106.
Lake Wendouree is served by 1 school, including 1 primary. The average ICSEA score is 1095, which is above the national average of 1,000. Public transport access includes 20 bus stops. The crime rate in the Ballarat LGA is higher than average at 11,695 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 1.7%, which reads as low yield. Property prices are above the state median ($1.3M/$875K), placing it in the premium segment. The price-to-income ratio of 12.7x is considered stretched. House prices have moved -1.5% 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.