Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $538,500, Annual capital growth 7.45%, Number of sales 139, Weekly median advertised rent $350

Geelong West Unit: Median price $378,000, Annual capital growth 6.17%, Number of sales 37, Weekly median advertised rent $270

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: CoreLogic

  • House Report
  • Unit Report

VIC has seen average median house prices change by 8.06% which means that Geelong West, 3218 has done well for property investors by showing a capital gain of 10.46% over the last year

When looking at the potential capital gains offered to property investors over the last 3 years, Geelong West comes in at number 370th in VIC.

Our latest figures would indicate that property sellers in Geelong West are currently offering property investors an average price cut of -7.13% below the asking price at the moment.

Geelong West, 3218’s gross rental yield is 3.38%

Property investors who have had real estate in Geelong West, 3218 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 12.25%

Across a shorter period, Geelong West, 3218 has seen a median price increase of 0.40% over the last quarter.

LACK OF BUYER INTEREST may well be the reason that Geelong West is offering property investors an average of -5.12. This rate of discount on properties puts Suburb at number 157th in terms of most discounted suburbs in VIC

Residents and property investors in Geelong West have been waiting around 103.75 days to sell a property.

Situated 61.77km from the CBD, Geelong West is one of Greater Geelong localities in the postcode 3218.

HOUSE UNIT
$538,500 $378,000
2.57% 0.40%
10.46% 12.25%
7.45% 6.17%
$350 $270
139 37
3.38% 3.71%
69.21 103.75

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 6682
Median household income ($/weekly) 1129
Median age of persons 35
Median housing loan repayment ($/monthly) 1664
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 713 10.7
    25-34 years 1177 17.6
    35-44 years 1145 17.1
    45-54 years 797 11.9
    55-64 years 663 9.9
    Others 2188 32.7
    Age Group
    Census Count Percent(%)
    Not Married 2480 49.4
    Registered Married 1920 38.2
    Defacto Relationship 620 12.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 5264 82.6
    Croatia 75 1.2
    Japan 153 2.4
    United Kingdom 235 3.7
    Other 173 2.7
    Others 470 7.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 81 1.3
    Christianity 3991 65.3
    Hinduism 35 0.6
    Islam 80 1.3
    No Religion 1887 30.9
    Others 36 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 246 9.4
    $400-$599 292 11.1
    $1,000-$1,249 245 9.3
    $1,500-$1,999 316 12.0
    $2,000-$2,499 249 9.5
    Others 1275 48.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2159 41.5
    Not in the labour force 1534 29.5
    Employed, worked part-time 1134 21.8
    Unemployed, looking for work 193 3.7
    Employed, away from work 178 3.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 390 11.2
    Professionals 976 28.1
    Technicians & trades workers 498 14.4
    Community & personal service workers 367 10.6
    Clerical & administrative workers 427 12.3
    Others 810 23.4
    Occupation
    Census Count Percent(%)
    Pre-school 128 7.7
    Infants/Primary 470 28.1
    Secondary 329 19.7
    Technical or Further Educational Institution 211 12.6
    University or other Tertiary Institutions 464 27.8
    Others 70 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5188 82.2
    Flat, unit or apartment 614 9.7
    Semi-detached, row or terrace house, townhouse 497 7.9
    House or flat attached to a shop, office 11 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1099 39.2
    Being purchased 935 33.4
    Fully owned 752 26.8
    Other tenure type 15 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals