Wallan

Wallan, VIC 3756 is a growing suburb with a total population of 15,004 residents. The population has shown significant growth over the past years, with a mix of age groups represented. The suburb offers a median household income slightly above the national average. The top three occupations include Technicians and Tradeworkers, Managers, and Professionals. Residents mostly commute by motor vehicle, while a considerable number also work from home. Wallan has a low social housing ratio and offers a good balance of educational advantage for students attending government schools. For houses in Wallan, the suburb presents a moderate yield with a median price range between Q1 and Q3 indicating potential for renovation opportunities. The market absorption rate for houses indicates a balanced market. On the other hand, units in Wallan offer a higher rental yield with a lower vacancy rate. The market absorption rate for units signals a higher demand, making it potentially favourable for investors. Wallan, VIC 3756 is a suburb experiencing growth both in population and property market. Homeowners looking for a balanced lifestyle with convenient commuting options may find Wallan appealing. Investors should consider the growth potential and rental yield offered by units, while houses present opportunities for renovation projects given the IQR suggesting variability in sale prices. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022