Lake Gardens

Lake Gardens, VIC 3355 is a suburb with a total population of 1801 residents. The area has a diverse age group distribution, with significant numbers in the age range of 5-19 years and 45-64 years. The suburb offers various commuting options, with a notable percentage of residents working from home. The dominant occupations in the area include professionals, managers, and technicians/tradeworkers. The suburb provides access to motor vehicle commuting for a substantial portion of residents. For House properties in Lake Gardens, the current market shows promising signs with a high market absorption rate and low vacancy rate, indicating a potentially strong demand. The suburb also exhibits good room demand-supply ratio for rental properties. The sale price IQR suggests opportunities for renovation projects. However, the area has experienced negative median price growth in the past 12 months. On the other hand, Unit properties have a higher rental yield and affordability index compared to Houses, with a significant proportion rented out, which may appeal to investors seeking stable rental income. Lake Gardens, VIC 3355, offers a mix of demographics with a range of commuting options and a higher share of residents working from home. The suburb presents potential investment opportunities, particularly for renovators in Houses, due to a good demand-supply ratio and low vacancy rates. Investors focusing on rental income may find Units appealing given the higher rental yields and affordability index. Overall, the suburb's market shows signs of demand, although recent median price growth has been negative. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022