Market Report

Lakes Entrance Market Update - Your Gateway to Property Success with Rykers Real Estate

Hello, dear property enthusiasts and savvy investors! We at Rykers Real Estate are thrilled to bring you the latest and most exciting market insights from the beautiful Lakes Entrance, Victoria. Whether you're dreaming of settling in this idyllic location or eyeing a rewarding investment opportunity, understanding the local market trends can illuminate your path forward. Let’s dive into the vibrant data and explore what it means for your property journey!

Current Market Snapshot

• Median Property Price: Currently, both houses and units in Lakes Entrance boast a median price of $495,000. While the past year has seen a modest dip in house prices with a 12-month capital growth of -4.44%, this presents a golden opportunity for buyers to enter the market at a favourable price point and with future interest rate drops on the horizon with the potential for future growth, investing now could lead to substantial returns.
• Sales Activity: Over the past year, a significant number of 89 houses were successfully sold. On average, properties here spend about 82 days on the market, offering buyers a comfortable timeframe to explore options and make well-informed decisions. This steady market activity demonstrates a dynamic and resilient property environment, perfect for those looking to make their next big move.
• Rental Insights: For those considering rental investments, Lakes Entrance offers promising prospects. Houses provide a healthy rental yield of 4.35%, with weekly median rent standing at $478. This steady rental income stream makes Lakes Entrance an attractive option for investors seeking reliable returns in a serene coastal setting.

Demographic Highlights

Lakes Entrance isn't just about properties; it's a thriving community with a rich tapestry of demographics:

• Population Growth: From 2011 to 2016, the population grew from 4,569 to 4,801 residents, marking a robust growth of 5.1%. This upward trend signals a vibrant community that continues to attract new residents, enhancing the area's appeal and potential for future property value appreciation.
• Age and Lifestyle: The demographic landscape is richly diverse, with the predominant age group being 60-69 years. Many households are childless couples, offering a tranquil and mature community vibe. Whether you're looking to retire or invest in a community with a laid-back lifestyle, Lakes Entrance is a perfect choice.
• Occupational Trends: The local economy is diverse, with a significant portion of the workforce engaged in labour occupations. This diversity contributes to the resilience and adaptability of the local economy, promising stable growth and opportunities for businesses and investors alike.

Key Takeaways for Investors

• Harness Demographic Insights: Understanding the local demographics can help tailor your investment or relocation plans, ensuring they align with community dynamics.
• Seize Rental Opportunities: With stable rental yields and a growing population, Lakes Entrance is an ideal location for property investors seeking consistent returns.
• Take Advantage of Market Timing: With properties averaging 82 days on the market, you have ample time to explore, consider, and invest wisely.

Actionable Tips

• Explore the Local Scene: Take a trip to Lakes Entrance to get a feel for the neighbourhoods and community spirit—immerse yourself in the local lifestyle.
• Engage with Real Estate Experts: Our team at Rykers Real Estate is here to provide expert guidance, personalized advice, and property tours tailored to your needs.
• Consider Financial Strategies: Compare investment home loans to optimize your financing strategy and maximize your investment potential.

Are you ready to explore the abundant opportunities in Lakes Entrance? Let’s discuss how these insights can help you make the most of your property journey. Would you like more information on any specific aspect?