Suburb Profile Report for East Geelong VIC (3219)

East Geelong House: Median price $512,500, Annual capital growth 7.58%, Number of sales 85, Weekly median advertised rent $350

East Geelong Unit: Median price $381,000, Annual capital growth 6.16%, Number of sales 10, Weekly median advertised rent $290

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

East Geelong has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 16.48% to date .

Over the longer term, East Geelong has seen property prices show investors a 13.89% return over the last 3 years. This is an improvement over the last 12 months

Vendor discounting in East Geelong is giving property investors an average Vendor Discount of around -6.74%. This puts suburb at number 194th in VIC when ranking the most discounted suburbs.

On average over the past year, suburb has had 7.08 sales per month, which equates to 85 per year.

East Geelong is 326th on a list of best yielding suburbs for rents in VIC with a 3.55% return

At number 142th in the list of Australian suburbs ordered by increase in median house value over the last year, East Geelong, 3219 is in the top 10% with a property value increase of 17.23% recorded in median house prices.

With the median price for a house in East Geelong being $381000 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 3.96%

YIP MAG Information supplied by:

YIP MAG
May 2016

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Adjacent to the Geelong CBD, East Geelong’s unit market has proved to have some strength in recent years.Full summary Adjacent to the Geelong CBD, East Geelong’s unit market has proved to have some strength in recent years.

While the median unit price is under $330,000, prices in the suburb have been climbing strongly, with figures from CoreLogic RP Data showing they have increased by 44% over the past three years.

Despite the strong growth, buyers haven’t been rushing into the area, with units spending an average of 62 days on the market before selling.

Those who do buy in the area will likely be relatively happy with their purchases, as East Geelong has a number of attractive qualities.

The northern part of the suburb features a wide expanse of parkland and sits on the shoreline of Stingaree Bay.

The University of Geelong Hospital is close by, as well as Simonds Stadium, home of the Geelong Cats, and South Geelong train station offers a public transport link to Melbourne.Close
HOUSE UNIT
$512,500 $381,000
5.67% N/A
16.48% 17.23%
7.58% 6.16%
$350 $290
85 10
3.55% 3.96%
59.2 N/A

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 3859
Median household income ($/weekly) 1256
Median age of persons 37
Median housing loan repayment ($/monthly) 1600
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 429 11.1
    25-34 years 594 15.4
    35-44 years 588 15.2
    45-54 years 580 15.0
    55-64 years 454 11.8
    Others 1214 31.5
    Age Group
    Census Count Percent(%)
    Not Married 1274 43.7
    Registered Married 1272 43.6
    Defacto Relationship 369 12.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 3225 86.6
    Japan 47 1.3
    Papua New Guinea 46 1.2
    United Kingdom 160 4.3
    Other 57 1.5
    Others 189 5.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 32 0.9
    Christianity 2355 66.2
    Hinduism 32 0.9
    Islam 24 0.7
    No Religion 1095 30.8
    Others 17 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 132 9.1
    $800-$999 133 9.2
    $1,000-$1,249 126 8.7
    $1,500-$1,999 204 14.1
    $2,000-$2,499 127 8.8
    Others 721 50.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1256 41.0
    Not in the labour force 908 29.7
    Employed, worked part-time 667 21.8
    Employed, away from work 140 4.6
    Unemployed, looking for work 89 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 222 10.8
    Professionals 588 28.5
    Technicians & trades workers 287 13.9
    Community & personal service workers 217 10.5
    Clerical & administrative workers 265 12.9
    Others 483 23.4
    Occupation
    Census Count Percent(%)
    Pre-school 65 7.4
    Infants/Primary 295 33.7
    Secondary 215 24.6
    Technical or Further Educational Institution 91 10.4
    University or other Tertiary Institutions 176 20.1
    Others 33 3.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3198 86.8
    Semi-detached, row or terrace house, townhouse 326 8.9
    Flat, unit or apartment 143 3.9
    House or flat attached to a shop, office 13 0.4
    Improvised home, tent, sleepers out 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 596 38.2
    Fully owned 486 31.2
    Rented 475 30.4
    Other tenure type 3 0.2
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals