Lockwood

LOCKWOOD, VIC 3551 is a small suburb with a population of 806 residents. The area has a diverse age range, with a significant number of residents falling in the 5 to 19 years and 45 to 64 years categories. The median household income is $1,800 weekly. The most common occupations include Managers, Technicians and Tradesworkers, and Clerical and Administrative Workers. Commuting by motor vehicle is the most prevalent mode of transport, while a notable portion of residents also work from home. LOCKWOOD presents a unique opportunity for property investors. With a relatively low median house price but steady population growth, the suburb has potential for capital appreciation. The high market absorption rate indicates strong demand, which may lead to future price increases. Homeowners interested in renovation projects may find opportunities due to the high Sale Price IQR Ratio, suggesting a good potential for adding value through renovations. LOCKWOOD, VIC 3551 is a suburb that offers a mix of demographics and a community-oriented lifestyle. With affordable housing options and a growing population, the suburb presents investment opportunities for both homebuyers and property developers looking to add value through renovations. The high market absorption rate signals significant buyer demand, indicating a potentially competitive property market in the future. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022