Suburb Profile Report for Colac VIC (3250)

Colac House: Median price $270,000, Annual capital growth 3.42%, Number of sales 166, Weekly median advertised rent $280

Colac Unit: Median price $225,000, Annual capital growth 1.92%, Number of sales 16, Weekly median advertised rent $235

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in Colac have tracked just lower than the VIC average of 10.83% over the last 12 months.

When looking at the potential capital gains offered to property investors over the last 3 years, Colac comes in at number 514th in VIC.

Colac3250 is located in VIC which offers an average discount of -5.41% to property investors. Colac itself is showing figures that indicate -4.80% is the average achievable by property buyers investing in the suburb.

A $280 per week rent on the median house gives suburb investors a gross yield of circa 5.39%, without taking into account capital value appreciation, which has been averaging out at 3.42%.

Over the last year, property investments in Colac, 3250 have given investors a capital gain of -2.17%. This compares badly with the 4.90% for VIC as a whole.

While Colac,3250 ranked number 355th in VIC for increase in median house value (annualised) increase, it is ranked 219th over the last 5 years.

Sellers are offering property buyers an average discount of -4.91% to buyers in Colac at the moment, which is less than average for the rest of VIC.

Advertised rents are around the $235 mark per week – giving a return of 5.43% based on the median price in Suburb

Information supplied by:


June 2017

M
O

W
E
As one of the destinations along the Great Ocean Road, Colac gets quite a bit of promotion. However, it’s not only for tourists.Full summary

Nature destination fields demand from unit buyers

Median unit price: $270,000

Three-year growth: 12.50%

Rental yield: 4.57%

As one of the destinations along the Great Ocean Road, Colac gets quite a bit of promotion. However, it’s not only for tourists.

The suburb’s growth peaked at an incredible 35% in the past year. The March 2017 quarter reported 8.9% growth as well. Even then, the median unit price is quite low at under $300,000 and returns for investors are significant at 4.5%. Thus, now could be a good time to enter this burgeoning market.

Colac is known for its farming and forestry, industries helped by its location near Colac Lake and the Great Otway National Park. Thus, the suburb is a great spot for water sports and hiking. There are also several primary and secondary schools in town. 

Colac is highly accessible, since Princes Highway runs through the suburb. There is also a railway station and a coach terminal for commuters.

Close
Metrics i HOUSE UNIT
$270,000 $225,000
4.05% -13.13%
8.11% -2.17%
3.42% 1.92%
$280 $235
166 16
5.39% 5.43%
79.92 115.92

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Colac VIC
Demographics
Total population 8696
Median household income ($/weekly) 834
Median age of persons 40
Median housing loan repayment ($/monthly) 1144
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 1044 12.0
    25-34 years 1026 11.8
    35-44 years 994 11.4
    45-54 years 998 11.5
    55-64 years 978 11.2
    Others 3657 42.0
    Age Group
    Census Count Percent(%)
    Not Married 2940 46.6
    Registered Married 2698 42.8
    Defacto Relationship 665 10.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 7711 93.0
    Croatia 43 0.5
    Papua New Guinea 84 1.0
    United Kingdom 170 2.1
    Other 96 1.2
    Others 184 2.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 40 0.5
    Christianity 5667 72.6
    Islam 26 0.3
    Other Religious Groups 14 0.2
    No Religion 2047 26.2
    Others 16 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 412 12.8
    $400-$599 503 15.6
    $600-$799 414 12.8
    $800-$999 383 11.9
    $1,000-$1,249 347 10.7
    Others 1169 36.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2865 42.4
    Employed, worked full-time 2150 31.8
    Employed, worked part-time 1289 19.1
    Employed, away from work 284 4.2
    Unemployed, looking for work 174 2.6
    Person Characteristics
  • Census Count Percent(%)
    Professionals 416 11.2
    Technicians & trades workers 554 14.9
    Community & personal service workers 476 12.8
    Sales 414 11.1
    Labourers 789 21.2
    Others 1071 28.8
    Occupation
    Census Count Percent(%)
    Pre-school 143 8.7
    Infants/Primary 617 37.5
    Secondary 554 33.7
    Technical or Further Educational Institution 157 9.5
    University or other Tertiary Institutions 104 6.3
    Others 69 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7316 91.2
    Flat, unit or apartment 348 4.3
    Semi-detached, row or terrace house, townhouse 312 3.9
    Caravan, cabin, houseboat 28 0.3
    House or flat attached to a shop, office 14 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1389 40.4
    Being purchased 1011 29.4
    Rented 1003 29.2
    Other tenure type 37 1.1
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals