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Lara suburb profile

Lara is a charming suburb located in Victoria, approximately 18km north-east of Geelong and 60km south-west of Melbourne. Known for its semi-rural atmosphere, Lara offers a peaceful lifestyle with a strong sense of community. The suburb is surrounded by natural attractions, including the You Yangs Regional Park, which provides opportunities for hiking and outdoor activities. Lara's local amenities include schools, shopping centres, and recreational facilities, making it an ideal location for families and retirees. With convenient access to major transport routes, Lara combines the tranquility of country living with the convenience of city proximity.

Lara property market performance

Current median dwelling price$661,750Past 3 months

Property growth+12.3%Past 12 months

Lara’s property market has shown positive growth over the past 12 months, with house values increasing by 3.7%. The current median house price stands at $740,000. Although unit sales are minimal, with only 3 units sold, their values have surged by 15.9%, indicating a potential rise in demand for units.

Sales activity for houses has been robust, with 138 houses sold in the past year. Houses are selling relatively quickly, with a median of 32 days on the market, while units are moving even faster at 26 days, despite the limited number of sales.

The rental market in Lara has also seen growth, with house rents increasing by 3.6% and unit rents by 7.1% over the last 12 months. The average rent for houses is $570, while units average $450, reflecting a healthy demand for rental properties in the area.

HousesUnits
Median price
Past 3 months
$740KN/A
Change in value
Past 12 months
4.3%20.3%
Sold
Past 3 months
1414
Median days on market
Past 12 months
3126
Average rent
Past 12 months
$570$450
Change in rent
Past 12 months
3.6%4.7%

5 year median price trend for houses and units

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Lara demographics

Lara, a suburb located in Victoria, is known for its family-friendly environment and growing community. With a population of 19,014, Lara offers a blend of suburban tranquility and accessibility to urban amenities, making it an attractive choice for families and professionals alike. The median age of 37 suggests a mature community with a mix of young families and established residents who appreciate the suburb's balance of lifestyle and convenience.

The suburb's housing market is characterized by a high rate of home ownership, with 31.2% of properties owned outright and 46.7% owned with a mortgage. This indicates a stable community with a significant number of long-term residents. The rental market, comprising 22.1% of properties, provides options for those seeking flexibility, including young professionals and families transitioning into home ownership.

Family life is a central aspect of Lara, with 47.5% of households being couple families with children and 36.2% being couple families without children. The presence of one-parent families, making up 15.2% of the community, highlights the suburb's inclusive nature. Lara's proximity to Geelong and Melbourne, combined with its local amenities, parks, and schools, makes it a desirable location for those seeking a balanced lifestyle with easy access to both city and country experiences.

Suburbs near Lara

Some popular suburbs near Lara include:

  • Corio: Known for its affordable housing and community facilities, Corio is located to the southwest of Lara.
  • North Shore: Featuring industrial areas and residential pockets, North Shore is situated to the south of Lara.
  • Lovely Banks: Offering scenic views and a semi-rural lifestyle, Lovely Banks lies directly south of Lara.
  • Norlane: Known for its diverse community and redevelopment projects, Norlane is located to the southwest of Lara.
  • Bell Post Hill: Featuring elevated views and convenient access to amenities, Bell Post Hill is situated to the southwest of Lara.

How does Lara compare to nearby suburbs?

  • Median house prices: Lara’s median house price is 23.3% higher than Corio’s.
  • House price growth: Over the past 12 months, house prices in Lara have grown 4.7% higher than in North Shore.
  • Unit price growth: Over the past 12 months, unit prices in Lara have grown 9.6% higher than in Norlane.
  • Selling speed for houses: Properties in nearby Corio are selling 48.4% faster than in Lara.
  • Selling speed for units: Properties in nearby Corio are selling 42.3% faster than in Lara.
  • Investment considerations: In Lara, the rental yield for house is 9.5% lower than the Melbourne average, while the rental yield for units is 23.2% lower.
  • House price growth: Over the past 12 months, house prices in Lara have grown 30.9% lower than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Lara have grown 10.0% lower than the average rate of growth for units across Melbourne.

Choose the right real estate agents in Lara

In Lara ,120 agents are actively selling property, but a small number do the heavy lifting. Just 5 agents handled 42.1% of all sales in the past year, giving them a strong presence and deep experience in the local market.

Commission rates usually sit between 2% and 2.5%. Comparing agents and understanding what’s included in their fee structure can help you find the right mix of service, value, and motivation—without compromising on outcomes.

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