Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $618,000, Annual capital growth 8.52%, Number of sales 151, Weekly median advertised rent $363

Geelong West Unit: Median price $347,000, Annual capital growth 6.26%, Number of sales 34, Weekly median advertised rent $280

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

Source: CoreLogic

  • House Report
  • Unit Report

Geelong West is in the TOP 30% in VIC when comparing median price capital growth over the last year. Geelong West gave property investors a good capital gain figure when compared to the rest of the state, with 17.71%.

Geelong West,3218 has offered an average of 17.71% return per annum in house price rises to property investors over the last three years.

Our latest figures would indicate that property sellers in Geelong West are currently offering property investors an average price cut of -3.59% below the asking price at the moment.

Often selling an investment property can take time, and in Geelong West the average time real estate has been on the market is 54.22 days.

A $362.5 per week rent on the median house gives suburb investors a gross yield of circa 3.05%, without taking into account capital value appreciation, which has been averaging out at 8.52%.

At number 1500th in the list of Australian suburbs ordered by increase in median house value over the last year, Geelong West, 3218 is in the BOTTOM 20% with a property value increase of -7.84% recorded in median house prices.

A 10.60% growth in median value for property investors in Geelong West,3218 puts this suburb at number 233th in terms of best performing suburbs in VIC

Sellers are offering property buyers an average discount of -4.50% to buyers in Geelong West at the moment, which is less than average for the rest of VIC.

Property investors should expect to get $280 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$618,000 $347,000
3.00% 0.58%
17.71% -7.84%
8.52% 6.26%
$363 $280
151 34
3.05% 4.20%
54.22 68.03

Source: CoreLogic

DSR Score for property investment : Very 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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