Located in Victoria within the Surf Coast local government area, Lorne is a small locality (postcode 3232). It is home to about 1,327 residents, with an older demographic and a median age of 56. Households earn a median income of $79K per year, with an average household size of 2.1 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.1% 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 managers, professionals, technicians & trades. Employment in the area leans toward accommodation & food and construction. The top ancestries reported are English, Australian, Irish.
Median house prices in Lorne stand at $1.9 million, having moved lower by 4.9% over the last twelve months. Units have a median price of $1.1 million (-14.3% YoY). The current median weekly rent is $580. This gives a gross rental yield of approximately 1.6%. The median monthly mortgage repayment is $2,167.
Lorne is served by 1 school, including 1 combined. The average ICSEA score is 1038, which is around the national average of 1,000. Public transport access includes 4 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Surf Coast LGA is below average at 3,149 incidents per 100,000 population.
On the investment side, Lorne shows a gross rental yield of approximately 1.6%, rated as low yield. Property prices are above the state median ($1.9M/$875K), placing it in the premium segment. The price-to-income ratio of 24.3x is considered stretched. House prices have moved -4.9% year-on-year. Population growth of +1.1% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.