lovely banks

3221, Victoria

Real Estate & Property Information

Median
Price Rank
381

lovely banks Suburb Profile & Review

Lovely Banks was initially a rural agricultural area, before demand increased for housing in the northern suburbs of Geelong. Residential pockets are primarily located in the southern part of the suburb, while to the north there is still a definite focus on agriculture. Thanks to Lovely Banks's geographical layout, there are lookout points that provide stunning views of Corio Bay and the city of Geelong.

Geelong Baptist College is a small, modern school that caters to students from Prep to Year 12. While it is Lovely Banks's only school, there are many other educational facilities in the surrounding suburbs, including Geelong Grammar School and Kardinia International College.

Cowies Creek and the Foundation of Friendship Park provide residents with a spectacular space for relaxation and leisure. Just five minutes away is Corio Shopping Centre, which can satisfy virtually any retail requirement with its two supermarkets, Kmart store and 100 specialty stores.

lovely banks Demographic Data

$ 385,000 Median House Price

51 Minutes Average Commute

35 Median Age

2,218 Population

50.63 % Female

49.37 % Male

576 NO OF FAMILIES

2.0 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in lovely banks, Victoria.

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lovely banks Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

lovely banks Median House Prices

  • 2008 $ 325,000
  • 2009 $ 358,000
  • 2010 $ 367,000
  • 2011 $ 365,000
  • 2012 $ 385,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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lovely banks 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in lovely banks have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term lovely banks property price predictions.

lovely banks Market Property Types

  • 87 % Seperate House
  • 1 % Semi Detached
  • 13 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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lovely banks Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

lovely banks Income & Mortgage Stats

  • $ 1,365 Median Weekly Household Income
  • $ 1,733 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in lovely banks

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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lovely banks Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

lovely banks Sold Property Prices

lovely banks Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

lovely banks Related Local Blog Posts

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Where is The Property Market Heading?

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Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

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lovely banks Schools

  • Geelong Baptist College560 Anakie Roadlovely banks VIC 3221(03) 5276 1674Private School
  • Glenvale School260 Purnell Roadlovely banks VIC 3221(03) 9355 0788Private School

lovely banks Sporting Centres and Clubs

  • Corio Bay Archery Clublovely banks VIC 3221
  • Seaview Family Sports & Recreation Clublovely banks VIC 3221
  • Saddle On Riding Schoollovely banks VIC 3221Horse Riding Club

lovely banks Retirement Villages

  • Lovely Banks Gardenslovely banks VIC 3221

Find out How Much your House is Worth in lovely banks

Request a free market Basic Report for lovely banks to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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