Suburb Profile Report for Geelong VIC (3220)

Geelong House: Median price $608,000, Annual capital growth 6.76%, Number of sales 91, Weekly median advertised rent $380

Geelong Unit: Median price $475,000, Annual capital growth 4.70%, Number of sales 57, Weekly median advertised rent $350

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Geelong has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 12.70%

The five-year average increase in median property values for Geelong,3220 has given property investors a potential capital gain of 22.83% across each of those five years.

The most recent median price for Geelong is $608000, with sellers offering an average of -5.64% off the asking price.

A $380 per week rent on the median house gives suburb investors a gross yield of circa 3.25%, without taking into account capital value appreciation, which has been averaging out at 6.76%.

Investment property in Geelong has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.86%

Taking the average capital gain, or increase in median house value, Geelong,3220 has racked up an average of -1.86% over the period. This ranks it number 1124th in the whole country for real estate investors looking at median house price increases.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.33% offered to property buyers. Sellers in Geelong itself are offering an average vendor discount of -6.38% to real estate investors.

Property investors should expect to get $350 weekly from the median priced house in this suburb.

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It’s no surprise that Geelong made Your Investment Property's top 100 in 2012, as this is one town that’s being spoken of with high regard in the property investment world Full summary

It’s no surprise that Geelong made Your Investment Property's top 100 in 2011, as this is one town that’s being spoken of with high regard in the property investment world.

Looking ahead, the completion of the first stages of the $380m Geelong Ring Road and the mooted regional rail upgrade are expected to attract more Melburnians to this cheaper, quieter satellite city.

“The Geelong ring road has also been under construction for a couple of years,” says hotspotting.com.au founder Terry Ryder. “Geelong used to be a huge traffic bottle neck, so it’s more conceivable for people to live in Geelong and work in Melbourne.”

With median prices creeping up towards outer-Melbourne territory, there are question marks over its long-term growth prospects. That said, its medium-term outlook is strong, but keep an eye on whether local and state government initiatives succeed in putting Geelong on the map as a strong regional employment hub in its own right.

Close
HOUSE UNIT
$608,000 $475,000
0.41% 0.53%
12.70% -1.86%
6.76% 4.70%
$380 $350
91 57
3.25% 3.83%
93.18 84.42

Source: CoreLogic

DSR Score for property investment : Balanced (U), Above average (H)
Find a mortgage broker in Geelong VIC
Demographics
Total population 4700
Median household income ($/weekly) 1216
Median age of persons 40
Median housing loan repayment ($/monthly) 1733
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 476 10.1
    25-34 years 750 16.0
    35-44 years 615 13.1
    45-54 years 634 13.5
    55-64 years 656 14.0
    Others 1568 33.4
    Age Group
    Census Count Percent(%)
    Not Married 1704 49.6
    Registered Married 1379 40.1
    Defacto Relationship 352 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3434 78.8
    Japan 108 2.5
    Malta 69 1.6
    United Kingdom 181 4.2
    Other 107 2.5
    Others 459 10.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 91 2.2
    Christianity 2802 67.4
    Islam 47 1.1
    Other Religious Groups 41 1.0
    No Religion 1133 27.3
    Others 41 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 157 9.1
    $600-$799 164 9.5
    $800-$999 152 8.8
    $1,500-$1,999 216 12.5
    $2,000-$2,499 150 8.7
    Others 888 51.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1535 39.7
    Not in the labour force 1248 32.3
    Employed, worked part-time 826 21.3
    Unemployed, looking for work 138 3.6
    Employed, away from work 122 3.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 300 12.1
    Professionals 742 29.9
    Technicians & trades workers 348 14.0
    Community & personal service workers 256 10.3
    Clerical & administrative workers 306 12.3
    Others 528 21.3
    Occupation
    Census Count Percent(%)
    Pre-school 52 5.1
    Infants/Primary 226 22.1
    Secondary 195 19.0
    Technical or Further Educational Institution 107 10.4
    University or other Tertiary Institutions 403 39.4
    Others 41 4.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2812 70.2
    Flat, unit or apartment 721 18.0
    Semi-detached, row or terrace house, townhouse 419 10.5
    House or flat attached to a shop, office 51 1.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 795 42.8
    Fully owned 606 32.6
    Being purchased 446 24.0
    Other tenure type 10 0.5
    Tenure Type
Census 2011, ABS
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