Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $600,000, Annual capital growth 8.19%, Number of sales 138, Weekly median advertised rent $365

Geelong West Unit: Median price $345,000, Annual capital growth 5.28%, Number of sales 42, 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

Geelong West has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 19.05% to date .

The five-year average increase in median property values for Geelong West,3218 has given property investors a potential capital gain of 47.06% across each of those five years.

At number 353th of VIC’s most discounted properties, Geelong West is in the middle of the state/territory when listing in order of most discounted to least.

With the median price for a house in Geelong West being $600000 and the advertised rent reaching $365 the gross rental yield for property investors calculates out to be 3.16%

Property investors who have had real estate in Geelong West, 3218 should be unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -8.73%

Taking the average capital gain, or increase in median house value, Geelong West,3218 has racked up an average of -8.73% over the period. This ranks it number 568th in the whole country for real estate investors looking at median house price increases.

LACK OF BUYER INTEREST may well be the reason that Geelong West is offering property investors an average of -4.95. This rate of discount on properties puts Suburb at number 142th in terms of most discounted suburbs in VIC

In the last year 42 properties changed hands in Geelong West, which puts it as the 207th most active market in VIC when comparing the number of sales per suburb.

Renters in Suburb are facing rents around $3240 per annum or $270 every week.

Metrics i HOUSE UNIT
$600,000 $345,000
6.76% -6.38%
19.05% -8.73%
8.19% 5.28%
$365 $270
138 42
3.16% 4.07%
55.21 71.43

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (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