VIC has seen average median house prices change by 0.13% which means that Colac, 3250 has done well for property investors by showing a capital gain of 2.51% over the last year.
Colac, 3250 was ranked 2081 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Colac should be aiming for at least -7.00% off the asking price, which is the average vendor discount being achieved at the moment.
Population is approx 12,000 people and has approx 4,000 homes offers great schools, upgraded hospital, train station, fabulous shopping, cafes and restaurants.
Selling points: Colac is a fabulous town and location is one of its benefits situated one and a half hours from Melbourne, 45 minutes to Geelong and the surf coast.
Most sought-after properties: Colac medium price is under $250,000 and is affordable for families to buy and live in Colac and district.
Most common properties: 3 Bedroom properties make up 70% of our market
Top amenities: Schools, Hospital, Nursing homes, Ambulance, SES service, Fire brigade, Police Station, Colanda (Disability facility) sporting facility, golf course, race course, football & netball ground, Water skiing, sailing, rowing (on lake Colac) indoor tennis & cricket centre, tenpin bowling, rifle range, fishing club.
Local industry and business: Regal ice cream, Bull foods, AKD (Timber processing plant), CRF (Food processing plant), Fonterra (Dairy processing plant) Mitre 10, Home hardware, Holden, Ford, Mitsubishi, Toyota, Nissan, Farm machinery dealers, Trucking depot (Wettenhalls group), McDonalds, KFC and Red rooster.
Recent changes: Roads (Upgrading to a dual highway from Colac to Geelong), natural gas connection, School upgrades, Nursing & Hospital facilities upgrade and also Fire & Ambulance services.
Best streets: Most people like to live on the north side of Murray Street.
Public transport: Colac has its own town bus that travels throughout Colac and Elliminyt. Has a train station that commutes daily to Melbourne. Taxi service.
Main arteries: Main routes from Colac are the princes Hwy that runs through the town centre. Also Colac-Lavers hill Road that is one the way to the Great Ocean Road.