Question 1

Is Lorne a nice place to live?

Accepted Answer

Lorne is a small seaside town on the Great Ocean Road with a population of 1,327 and a median age of 56. Life is centred on a compact main street, Mountjoy Parade, where cafes, galleries and boutiques sit alongside everyday shops, and the town sits around a sweeping bay, pier and easy beach breaks with the Erskine River flowing into Louttit Bay and rainforest-clad slopes rising into the Great Otway National Park. Residents range from long-term locals to holiday homeowners and people employed in tourism, and household life is dominated by couple households; most homes are owner-occupied.

Several foreshore and local projects are under way, including a Point Grey redevelopment that will add a new Lorne Aquatic and Angling Club building, improved walking links, new beach access and a boat ramp, plus a Mountjoy Parade boardwalk renewal, a safe cycling and pedestrian project open for consultation, and upgrades to the transfer station to increase drop-off capacity and add a shelter and gatehouse. To allow construction the Point Grey site was closed and the foreshore along Mountjoy Parade is serving as Lorne’s sole Bushfire Place of Last Resort until the redevelopment is completed. If you value a small coastal town focused on beach and forest recreation and a compact town centre, Lorne may suit you.

Question 2

Is it expensive to live in Lorne?

Accepted Answer

Units in Lorne rent for about $410 a week. Against a typical local household income of $1,525 a week as recorded at the most recent Census, that rent would take about 26.9% of weekly household income, which sits in the moderate share range. If you're renting rather than buying, that rent share is the figure that matters; whether it feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Lorne a good place to invest?

Accepted Answer

The past 12 months in Lorne show a clear split between houses and units. Median house values climbed 12.9%, a strong rise in what houses are worth over the year, while unit values fell 14.7%. Unit rents also dropped sharply, down 25.5% over the same period.

Put simply, the numbers point to capital growth on the house side this year and capital decline for units, and unit rental income fell markedly. Which of those movements matters to you depends on whether you prioritise capital growth or rental income and on your own circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	N/A	N/A
Change in value Past 12 months	12.9%	-14.7%
Sold Past 3 months	3	6
Median days on market Past 12 months	56	41
Average rent Past 12 months	N/A	$410
Change in rent Past 12 months	N/A	-25.5%

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