Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $570,000, Annual capital growth 7.83%, Number of sales 132, Weekly median advertised rent $360

Geelong West Unit: Median price $347,000, Annual capital growth 5.04%, Number of sales 46, Weekly median advertised rent $275

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 596th in the list of Australian suburbs ordered by increase in median house value over the last year, Geelong West, 3218 is in the top 20% with a property value increase of 15.15% recorded in median house prices.

Taking the average capital gain, or increase in median house value, Geelong West,3218 has racked up an average of 15.15% over the period. This ranks it number 1480th in the whole country for real estate investors looking at median house price increases.

Our latest figures would indicate that property sellers in Geelong West are currently offering property investors an average price cut of -4.56% 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 59.84 days.

With the median price for a house in Geelong West being $570000 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 3.28%

Property investors who have had real estate in Geelong West, 3218 should be relatively unhappy 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 0.58%

Comparing Geelong West,3218 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.07% offered to property buyers. Sellers in Geelong West itself are offering an average vendor discount of -4.88% to real estate investors.

On average over the past year, suburb has had 3.83 sales per month, which equates to 46 per year.

With the median price for a house in Geelong West being $347000 and the advertised rent reaching $275 the gross rental yield for property investors calculates out to be 4.12%

Metrics i HOUSE UNIT
$570,000 $347,000
4.59% -8.20%
15.15% 0.58%
7.83% 5.04%
$360 $275
132 46
3.28% 4.12%
59.84 71.37

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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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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