Lakes Entrance is a mid-sized suburb in Victoria within the East Gippsland local government area (postcode 3909). With a population of 5,145, the suburb has an older demographic with a median age of 55. Households earn a median income of $45K per year, with an average household size of 2.1 people. The most common occupations are community & personal service, labourers, professionals. The top ancestries reported are English, Australian, Scottish.
The median house price in Lakes Entrance is $520,000, having risen modestly 2% over the past year. Units have a median price of $693,000 (+65.1% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 4.0%. The median monthly mortgage repayment is $1,227.
Lakes Entrance is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 941, which is below the national average of 1,000. Public transport access includes 3 rail stations, 49 bus stops. The crime rate in the East Gippsland LGA is higher than average at 13,055 incidents per 100,000 population.
From an investment perspective, Lakes Entrance offers a gross rental yield of 4.0%, rated as moderate yield. Property prices sit below the state median ($520K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 11.5x is considered stretched. House prices have moved +2.0% year-on-year.
Lakes Entrance is a mid-sized suburb in Victoria within the East Gippsland local government area (postcode 3909). With a population of 5,145, the suburb has an older demographic with a median age of 55. Households earn a median income of $45K per year, with an average household size of 2.1 people. The most common occupations are community & personal service, labourers, professionals. The top ancestries reported are English, Australian, Scottish.
The median house price in Lakes Entrance is $520,000, having risen modestly 2% over the past year. Units have a median price of $693,000 (+65.1% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 4.0%. The median monthly mortgage repayment is $1,227.
Lakes Entrance is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 941, which is below the national average of 1,000. Public transport access includes 3 rail stations, 49 bus stops. The crime rate in the East Gippsland LGA is higher than average at 13,055 incidents per 100,000 population.
From an investment perspective, Lakes Entrance offers a gross rental yield of 4.0%, rated as moderate yield. Property prices sit below the state median ($520K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 11.5x is considered stretched. House prices have moved +2.0% year-on-year.