Located in Victoria within the Greater Geelong local government area, Lovely Banks is a smaller residential area (postcode 3213). The area has roughly 2,782 residents and a blend of families and working-age professionals, with a median age of 37. Households earn a median income of $104K per year, with an average household size of 2.9 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +2.2% 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 technicians & trades, labourers, professionals. Employment in the area leans toward healthcare and construction. The top ancestries reported are Australian, English, Italian.
The median house price in Lovely Banks is $759,000, having posted strong gains by 9.9% over the past year. The current median weekly rent is $500. This gives a gross rental yield of approximately 3.4%. The median monthly mortgage repayment is $1,747.
Lovely Banks is served by 1 school, including 1 combined. The average ICSEA score is 1031, which is around the national average of 1,000. Public transport access includes 5 bus stops. The crime rate in the Greater Geelong LGA is higher than average at 8,641 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 3.4%, which reads as moderate yield. Property prices are near the state median ($759K/$875K). The price-to-income ratio of 7.3x is considered moderate. House prices have moved +9.9% year-on-year. Population growth of +2.2% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.