Lalor suburb profile
Lalor is a culturally diverse suburb located 18km north of Melbourne's CBD, known for its strong community spirit and multicultural atmosphere. The suburb offers a mix of residential options, including post-war homes and modern developments, catering to a variety of lifestyles. Lalor is well-served by public transport, with a train station providing easy access to the city, and is close to major roads and shopping centres. The area boasts several parks and recreational facilities, making it appealing to families and outdoor enthusiasts. Lalor's vibrant community events and local markets reflect its rich cultural tapestry, attracting residents from various backgrounds.
Lalor property market performance
Lalor's property market has shown modest growth over the past 12 months. House values have increased by 1.5%, bringing the median house price to $702,000, while unit values have remained stable with a median price of $517,500. This stability in unit prices suggests a balanced demand in the area.
Sales activity has been consistent, with 47 houses and 16 units sold in the past 12 months. Houses and units are selling at a similar pace, with median days on market at 39 and 36 days, respectively, indicating a steady interest from buyers.
The rental market in Lalor has experienced significant growth, with house rents increasing by 10.6% and unit rents by 13.6% over the last 12 months. This rise in rental prices reflects a strong demand for rental properties in the suburb.
Median price - houses$702KPast 3 months
Median price - units$518KPast 3 months
Change in value - houses1.5%12 months
Change in value - units-0.0%12 months
Houses sold47Past 3 months
Units sold16Past 3 months
Median DOM - houses39Past 12 months
Median DOM - units36Past 12 months
Average rent - houses$520Past 12 months
Average rent - units$480Past 12 months
Change in rent - houses10.6%Past 12 months
Change in rent - units13.6%Past 12 months
Lalor demographics
Lalor, located in the northern suburbs of Melbourne, is a vibrant and diverse community known for its family-friendly atmosphere and multicultural heritage. With a population of 23,219, Lalor offers a suburban lifestyle with a median age of 37, reflecting a balanced mix of young families, professionals, and long-term residents. The suburb's proximity to essential amenities, schools, and public transport makes it an attractive choice for those seeking a convenient yet relaxed living environment.
The housing landscape in Lalor is characterized by a significant proportion of homeownership, with 40.3% of properties owned outright and 31.4% owned with a mortgage. This indicates a stable community with a strong sense of belonging and investment in the area. Additionally, 28.3% of the properties are rented, providing options for those who prefer flexibility or are new to the suburb. The presence of couple families with children, making up 46.5% of the households, highlights Lalor's appeal to families seeking a supportive and nurturing environment.
Lalor's community is enriched by its cultural diversity, with a variety of cultural events and local markets that celebrate its multicultural roots. The suburb's workforce is diverse, with many residents employed in various sectors across Melbourne. The median total household income of $1,348 per week reflects a community that values both work and family life. Overall, Lalor offers a welcoming and inclusive environment, making it a desirable place for families and individuals looking for a balanced lifestyle in Melbourne's northern suburbs.
Lalor infrastructure, key developments and investment opportunities
Lalor is experiencing several developments that could impact its property market. The suburb is set to benefit from the North East Link Project, which will improve connectivity to Melbourne's north, potentially increasing property desirability. Additionally, the Plenty Valley International Employment and Innovation Cluster development in nearby Epping is expected to create job opportunities, which may drive demand for housing in Lalor.
Local infrastructure improvements include the ongoing upgrade of Lalor Library, enhancing community facilities. The suburb's proximity to the expanding Melbourne Polytechnic Epping campus and the Northern Hospital redevelopment in Epping adds to its appeal for families and healthcare workers. These developments, combined with Lalor's established schools and multicultural character, are likely to sustain interest in the local property market and potentially drive growth in the coming years.
Lalor rental market trends
The rental market in Lalor has experienced notable growth, with house rents increasing 10.6% over the past year to $520 per week, while unit rents have surged 13.6% to $480 per week. This upward trend reflects strong demand and makes Lalor an attractive option for both renters and investors seeking promising returns in a well-connected suburb.
Suburbs near Lalor
Some popular suburbs near Lalor include: