Suburb Profile Report for Corio VIC (3214)

Corio House: Median price $250,000, Annual capital growth 4.04%, Number of sales 291, Weekly median advertised rent $260

Corio Unit: Median price $210,000, Annual capital growth 7.11%, Number of sales 26, Weekly median advertised rent $230

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Corio have tracked just lower than the VIC average of 8.06% over the last 12 months.

Corio,3214 was ranked 1671 in Australia by increase in median property value over the quarter.

LACK OF BUYER INTEREST may well be the reason that Corio is offering property investors an average of -6.03. This rate of discount on properties puts Suburb at number 222th in terms of most discounted suburbs in VIC

Residents and property investors in Corio have been waiting around 69.85 days to sell a property.

A $260 per week rent on the median house gives suburb investors a gross yield of circa 5.41%, without taking into account capital value appreciation, which has been averaging out at 4.04%.

With a capital gain of 1.69% for the last 12 months, Corio, 3214 has performed for property investments than its average annual 7.11% property growth over the last 5 years.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Corio has increased when compared to the 5 year average annual rate.

Sellers are offering property buyers an average discount of -6.75% to buyers in Corio at the moment, which is less than average for the rest of VIC.

Residents and property investors in Corio have been waiting around 111.6 days to sell a property.

Corio is 28th on a list of best yielding suburbs for rents in VIC with a 5.70% return

HOUSE UNIT
$250,000 $210,000
2.04% -1.18%
4.17% 1.69%
4.04% 7.11%
$260 $230
291 26
5.41% 5.70%
69.85 111.6

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 15072
Median household income ($/weekly) 842
Median age of persons 34
Median housing loan repayment ($/monthly) 1192
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 2128 14.1
    25-34 years 1873 12.4
    35-44 years 1905 12.6
    45-54 years 1976 13.1
    55-64 years 1734 11.5
    Others 5456 36.2
    Age Group
    Census Count Percent(%)
    Not Married 5236 48.7
    Registered Married 4415 41.1
    Defacto Relationship 1098 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 11174 78.3
    New Zealand 192 1.3
    Philippines 185 1.3
    United Kingdom 761 5.3
    Other 587 4.1
    Others 1370 9.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 217 1.6
    Christianity 8866 65.8
    Islam 308 2.3
    Other Religious Groups 61 0.5
    No Religion 3989 29.6
    Others 33 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 748 15.4
    $600-$799 661 13.6
    $800-$999 561 11.5
    $1,000-$1,249 571 11.7
    $1,500-$1,999 515 10.6
    Others 1809 37.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 5090 45.5
    Employed, worked full-time 3148 28.1
    Employed, worked part-time 1907 17.0
    Unemployed, looking for work 630 5.6
    Employed, away from work 420 3.8
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 909 16.6
    Community & personal service workers 699 12.8
    Sales 650 11.9
    Machinery operators & drivers 756 13.8
    Labourers 1160 21.2
    Others 1301 23.8
    Occupation
    Census Count Percent(%)
    Pre-school 246 6.7
    Infants/Primary 1215 33.0
    Secondary 1444 39.2
    Technical or Further Educational Institution 333 9.0
    Other type of educational institution 234 6.4
    Others 211 5.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 13415 95.5
    Flat, unit or apartment 430 3.1
    Semi-detached, row or terrace house, townhouse 186 1.3
    House or flat attached to a shop, office 20 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1890 36.0
    Being purchased 1698 32.3
    Fully owned 1633 31.1
    Other tenure type 34 0.6
    Tenure Type
Census 2011, ABS
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