Thinking about buying in Lake Bolac? Now could not be a better time, with just 317 residential dwellings it's a highly sought after location.
The average property price for this area is $353,000 with prices in this suburb ranging from $100,000 to $6,211,000.
Distance to the coast is 68 Km.
|Median Weekly Rent||$150.00|
|Median Monthly Mortgage||$1000.00|
|Median Persons Per Bedroom||0.70|
|Average Household Size||2.00|
|Average Cars Per Dwelling||1.97|
|Average Properties Within 50M||9|
|1 Bed $229,000|
|2 Bed $343,000|
|3 Bed $332,000|
|4 Bed $534,000|
|5 Bed $322,000|
Consistent high demand relative to supply is a key feature in Lake Bolac driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Lake Bolac due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. The slightly lower than average earnings from occupations in Lake Bolac changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. Low population density implies low demand and limits housing choices and price increases. Could be a good entry point for first home buyers needing to somehow get into the market. With very low industrial sector presence in Lake Bolac the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.
|139 MONTGOMERY ST, LAKE BOLAC, VIC, 3351||1||Auction on site December 9, 2023|
Lake Bolac College(While the above schools are located with the suburb of Lake Bolac there may also be nearby schools whose catchments cover this suburb)
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source: Australian Government Bureau of Meteorology
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