Lucas (postcode 3350) is a smaller residential area in Victoria within the Ballarat local government area. It is home to about 2,994 residents, with a blend of families and working-age professionals and a median age of 32. Households earn a median income of $102K per year, with an average household size of 2.8 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, community & personal service, clerical & administrative. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are English, Australian, Irish.
Lucas has a median house price of $620,000, which has softened modestly by 2.4% year-on-year. The current median weekly rent is $420. This gives a gross rental yield of approximately 3.5%. The median monthly mortgage repayment is $1,700.
Lucas is served by 2 schools, including 2 primary. The average ICSEA score is 1042, which is around the national average of 1,000. Public transport access includes 7 bus stops. The crime rate in the Ballarat LGA is higher than average at 11,695 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 3.5% (moderate yield). Property prices are near the state median ($620K/$875K). The price-to-income ratio of 6.1x is considered moderate. House prices have moved -2.4% 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.