Wallan is a well-established suburb in Victoria within the Mitchell local government area (postcode 3756). With a population of 15,004, the suburb has a mix of young professionals and families with a median age of 33. Households earn a median income of $100K per year, with an average household size of 3 people. The most common occupations are technicians & trades, clerical & administrative, community & personal service. The top ancestries reported are Australian, English, Irish.
The median house price in Wallan is $356,000, having remained flat 0% over the past year. Units have a median price of $434,000 (-2.5% YoY). The current median weekly rent is $440. This gives a gross rental yield of approximately 6.4%. The median monthly mortgage repayment is $1,733.
Wallan is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 988, which is around the national average of 1,000. Public transport access includes 3 rail stations, 33 bus stops. The crime rate in the Mitchell LGA is higher than average at 9,406 incidents per 100,000 population.
From an investment perspective, Wallan offers a gross rental yield of 6.4%, rated as high yield. Property prices sit below the state median ($356K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 3.6x is considered affordable. House prices have moved +0.0% year-on-year.
Wallan is a well-established suburb in Victoria within the Mitchell local government area (postcode 3756). With a population of 15,004, the suburb has a mix of young professionals and families with a median age of 33. Households earn a median income of $100K per year, with an average household size of 3 people. The most common occupations are technicians & trades, clerical & administrative, community & personal service. The top ancestries reported are Australian, English, Irish.
The median house price in Wallan is $356,000, having remained flat 0% over the past year. Units have a median price of $434,000 (-2.5% YoY). The current median weekly rent is $440. This gives a gross rental yield of approximately 6.4%. The median monthly mortgage repayment is $1,733.
Wallan is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 988, which is around the national average of 1,000. Public transport access includes 3 rail stations, 33 bus stops. The crime rate in the Mitchell LGA is higher than average at 9,406 incidents per 100,000 population.
From an investment perspective, Wallan offers a gross rental yield of 6.4%, rated as high yield. Property prices sit below the state median ($356K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 3.6x is considered affordable. House prices have moved +0.0% year-on-year.