Suburb Profile Report for East Geelong VIC (3219)

East Geelong House: Median price $550,000, Annual capital growth 8.22%, Number of sales 81, Weekly median advertised rent $350

East Geelong Unit: Median price $350,000, Annual capital growth 5.72%, Number of sales 13, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 391th 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 18.28% recorded in median house prices.

Taking the average capital gain, or increase in median house value, East Geelong,3219 has racked up an average of 18.28% over the period. This ranks it number 1690th in the whole country for real estate investors looking at median house price increases.

Property investors looking for a bargain in East Geelong should be aiming for at least -4.77% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 81 properties changed hands in East Geelong, which puts it as the 322th most active market in VIC when comparing the number of sales per suburb.

Renters in Suburb are facing rents around $4200 per annum or $350 every week.

Giving property investors a a stable capital gain of 6.87% for the last year, East Geelong, 3219 is the 578th highest performer in Australia in this respect.

While East Geelong,3219 ranked number 354th in VIC for increase in median house value (annualised) increase, it is ranked 67th over the last 5 years.

Property buyers and investors in East Geelong 3219 should be seeing an average reduction in asking price of around -5.31% . This means that East Geelong is holding prices well when compared to other suburbs in VIC.

Residents and property investors in East Geelong have been waiting around 85.8 days to sell a property.

Situated 64.17km from the CBD, East Geelong is one of Greater Geelong localities in the postcode 3219.

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
Metrics i HOUSE UNIT
$550,000 $350,000
7.58% -9.68%
18.28% 6.87%
8.22% 5.72%
$350 $300
81 13
3.31% 4.46%
49.76 85.8

Source: CoreLogic

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