Lorne
A median house price of $1,898,000 combined with a vacancy rate of 68.6% tells the real story of Lorne: this is overwhelmingly a holiday and second-home destination, not a residential suburb in the conventional sense. The permanent population of just 1,327 occupies 102.65 square kilometres at a density of 12.9 people per km2, yet median age reaches 56, which is 16 years above the national figure. SEIFA scores place Lorne at decile 9 on IRSD and decile 8 on IRSAD, confirming established wealth concentrated among an aging owner base where 56.7% own their homes outright.
Population
1,327
Median Age
56.0
Household IncomeiMedian weekly household income (ABS Census)
$1,525/wk
DAs (12 months)iDevelopment Applications lodged in the past year
3
Median House
$1.9M
Apr-Jun 2024
The $1,898,000 median house price reflects a market driven by holiday demand rather than primary residence buying, and the long-run trajectory reinforces the premium: prices have risen 126% since 2013, equivalent to a 6.0% compound annual growth rate over 14 years. The peak hit $2,710,000 in October to December 2023, meaning the current median sits 30% below that high point. Stock is heavily detached houses at 86.1%, with 4-plus bedroom homes at 36.1% and 3-bedroom at 38.2%, suited to holiday use. Monthly mortgage repayments average $2,167, but the mortgage-to-income ratio of 32.8% is above the 30% stress threshold compared to incomes, making leveraged purchase challenging for most buyers.
For Buyers
The $1,898,000 median house price reflects a market driven by holiday demand rather than primary residence buying, and the long-run trajectory reinforces the premium: prices have risen 126% since 2013, equivalent to a 6.0% compound annual growth rate over 14 years. The peak hit $2,710,000 in October to December 2023, meaning the current median sits 30% below that high point. Stock is heavily detached houses at 86.1%, with 4-plus bedroom homes at 36.1% and 3-bedroom at 38.2%, suited to holiday use. Monthly mortgage repayments average $2,167, but the mortgage-to-income ratio of 32.8% is above the 30% stress threshold compared to incomes, making leveraged purchase challenging for most buyers.
For Investors
Lorne's 68.6% vacancy rate sits far above typical residential suburb benchmarks and reflects the seasonal holiday letting cycle rather than chronic oversupply of permanent rentals. Weekly rent of $363 against a $1,898,000 median implies a gross yield near 1.0%, which is low compared to typical investment markets. The renter share of permanent occupants is 24.5%, which is below national averages, because the bulk of dwellings sit empty or rotate through short-term platforms. Development activity is minimal with only 3 applications in the past 12 months, all subdivision work, so new supply is not a near-term risk. The case for investment rests on capital growth, which the 6.0% CAGR over 14 years supports, rather than yield.
Development Activity
Total DAs
6
Last 12 Months
3
YoY ChangeiYear-over-year change in DA lodgements
+200.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Lorne iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Lorne P-12 College
Prep-12 · 167 students
Demographics
With a median age of 56, Lorne's permanent residents are 16 years older than the national median, a gap that reflects both the appeal of coastal retirement and the pricing that screens out younger families. University qualifications reach 37.7%, which is 7.6 percentage points above the national figure. Overseas-born residents account for 18.3% of the population, which is 3.3 percentage points below the national rate. Average household size is 2.1, below the national average, consistent with the dominant couples-without-children profile: 43.3% of families are couples with no dependent children. Ancestry is strongly Anglo-Celtic, led by English (556), Irish (229) and Scottish (202) backgrounds. The volunteering rate of 31.0% is high, pointing to an engaged and locally invested permanent community.
Age Distribution
Bedrooms
Dwelling Structure
86.1%
Houses
7.0%
Townhouse
5.4%
Apartment
Tenure
Outright owners at 56.7% dominate Lorne's tenure split, more than double the proportion carrying a mortgage at 18.9%, which indicates a long-held, debt-free ownership base rather than active buy-in. Renters account for 24.5% of dwellings, below state and national norms. The 86.1% detached house share is higher than most coastal Victorian suburbs. Bedroom distribution skews large: 36.1% have 4 or more bedrooms and 38.2% have 3, suitable for the holiday letting market. The price record shows a trough of $765,000 in 2016 and a peak of $2,710,000 in late 2023, a range of more than $1.9 million over the data series. The 30% correction from peak to the current $1,898,000 brings the market closer to the long-run trend implied by the 6.0% CAGR.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,167
Rent / wk
$363
HH Size
2.1
Personal Income / wk
$893
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
68.6%
Unoccupied
1,093
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
23.8%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
32.8% stressed
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
43.3%
Couples, no children
763
Total families
Economy & Employment
Hospitality dominates Lorne's local employment at 26.0% of workers (108 people), driven directly by the holiday economy that defines the town. Construction follows at 13.5% (56 workers), reflecting ongoing renovation and maintenance of the large private dwelling stock. Healthcare takes third place at 11.5% (48 workers), which is notable for a small town and reflects the older permanent resident base. By occupation, Managers (144) and Professionals (103) are the two largest groups, consistent with SEIFA IEO decile 8, which ranks Lorne well above average nationally on education and occupational status. The unemployment rate is low at 1.2%, though the participation rate of 43.3% is also low, because 478 residents are not in the labour force, many of them retired.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
51.6%
Part-time
47.2%
Participation
43.3%
Employed
512
Occupations
Top Industries
University
37.7%
Postgraduate
8.1%
Born Overseas
18.3%
Dwellings
498
Transport to Work
Car reliance at 77.7% is the primary transport mode, expected for a coastal town without rail. Walking and cycling account for 17.5% of commutes, higher than many comparable towns, because the compact township core makes local trips on foot practical. Crime totals 67 recorded incidents, giving a rate of 50.5 per 1,000 residents. Property and deception offences are the largest category at 40 incidents, consistent with a high-vacancy, high-value holiday suburb that presents more opportunistic property targets than the small permanent population would otherwise suggest. SEIFA IRSAD decile 8 and IRSD decile 9 place Lorne well above the national median on both advantage and low-disadvantage measures. No schools are recorded inside the suburb boundary, so families rely on facilities in neighbouring towns such as Lorne P-12 College which services the area.
Drive
77.7%
Public Transport
N/A
Walk / Cycle
17.5%
Work from Home
N/A
Safety & Crime
Total Offences
67
Year ending June 2024
Rate per 1,000 People
50.5
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Lorne compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Lorne a good suburb to live in?
Lorne suits a specific lifestyle: it scores SEIFA IRSD decile 9 and IRSAD decile 8, placing it well above the national median on both advantage measures. The median age of 56 and 56.7% outright ownership rate point to an established, low-stress permanent community. Trade-offs include no train access, limited schools inside the boundary, and a $1,898,000 median house price.
What is the median house price in Lorne?
The median house price is $1,898,000 as of April to June 2024. This is 30% below the suburb peak of $2,710,000 reached in October to December 2023. Long-run growth has been strong, with prices rising 126% from $840,000 in 2013, equivalent to a compound annual growth rate of 6.0% over 14 years.
What schools are in Lorne?
No schools are recorded inside the Lorne suburb boundary in this dataset. Families typically rely on schools in adjacent areas. The local permanent population has a university qualification rate of 37.7%, which is 7.6 percentage points above the national figure, reflecting the high educational attainment of established residents.
Is Lorne safe?
Lorne recorded 67 crimes in the most recent data, a rate of 50.5 per 1,000 permanent residents. Property and deception offences account for 40 of those incidents, elevated relative to the small population because the high vacancy rate of 68.6% means many high-value homes sit unoccupied. Crimes against the person totalled 21, and drug offences just 1.
Is Lorne good for property investment?
The 6.0% compound annual growth rate over 14 years is above average compared to many regional Victorian markets, making the capital growth case credible. However, weekly rent of $363 against the $1,898,000 median implies a gross yield near 1.0%, which is low. The 68.6% vacancy rate reflects seasonal holiday letting rather than tenant shortage, and only 3 development applications were lodged in the past 12 months.
How is Lorne's population changing?
Lorne's permanent population is 1,327 across 102.65 square kilometres. Detailed forecast data is not available, but the 27.8% residential turnover rate over five years shows moderate churn within the small base. The median age of 56 is 16 years above the national figure, meaning the permanent community is aging, consistent with a pattern seen in many coastal retirement destinations.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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