Suburb Profile Report for Warrnambool VIC (3280)

Warrnambool House: Median price $319,500, Annual capital growth 1.76%, Number of sales 475, Weekly median advertised rent $320

Warrnambool Unit: Median price $250,250, Annual capital growth 1.40%, Number of sales 101, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Warrnambool has done 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 -4.05%

A -0.16% growth in median value for property investors in Warrnambool,3280 puts this suburb at number 550th in terms of best performing suburbs in VIC

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Warrnambool, 3280. Typically our figures indicate that -6.03% is being offered, which puts this VIC suburb at 1847th most discounted overall in Australia.

Over the last year, property investments in Warrnambool, 3280 have given investors a capital gain of -3.75%. This compares very badly with the 2.98% for VIC as a whole.

Warrnambool,3280 was ranked 1478 in Australia by increase in median property value over the quarter.

Property investors looking for a bargain in Warrnambool should be aiming for at least -7.53% off the asking price, which is the average vendor discount being achieved at the moment.

Often selling an investment property can take time, and in Warrnambool the average time real estate has been on the market is 131.71 days.

Situated 221.37km from the CBD, Warrnambool is one of Warrnambool localities in the postcode 3280.

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Located in the western corner of the Great Ocean Road, Warrnambool is becoming more than just a pretty tourist town, says PRDnationwide analyst Dan O’Halloran. Full summary

Located in the western corner of the Great Ocean Road, Warrnambool is becoming more than just a pretty tourist town, says PRDnationwide analyst Dan O’Halloran.

“While a strong alliance with the more traditional dairy industry still remains well ingrained within the community, at present there is huge interest being shown to alternative energy projects in the surrounding Warrnambool area, with over $3.5bn worth of privately funded projects either developed or in the pipeline. This level of development is creating expanding employment and investment opportunities in the region and is sure to result in strong property returns in coming years,” he says.

“Warrnambool’s median unit sale price has remained strong, and highlights the growing demand for well positioned, low maintenance style dwellings in the suburb. Warrnambool’s unit market is set to perform well for inventors focused on the medium term.”

According to the city’s growth director Bill Millard, Warrnambool’s rate of annual population increase over the past five years of 1.8% compares well with other Victorian regional centres such as Ballarat (2%) and Bendigo (1.9%), while labour force growth over the past four years has reached an equally strong 3.4% – or 2,500 jobs.

Warrnambool’s unit market is currently dominated by good sized, single storey two-bedroom brick properties – often with a garage. There’s also a good selection of smaller, but more centrally located, two-bedroom apartments on offer. To give an example of the entry price, listings at the time of writing included a $149,000 two-bedroom, one-bathroom unit close to the St John of God Hospital – which offered a 5.7% gross yield.

Close
Metrics i HOUSE UNIT
$319,500 $250,250
-0.16% -3.75%
-4.05% -3.75%
1.76% 1.40%
$320 $250
475 101
5.21% 5.19%
99.1 131.71

Source: CoreLogic

DSR Score for property investment : Balanced (U), Above average (H)
Find a mortgage broker in Warrnambool VIC
Demographics
Total population 28412
Median household income ($/weekly) 986
Median age of persons 39
Median housing loan repayment ($/monthly) 1478
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 3638 12.8
    25-34 years 3320 11.7
    35-44 years 3525 12.4
    45-54 years 3809 13.4
    55-64 years 3405 12.0
    Others 10715 37.7
    Age Group
    Census Count Percent(%)
    Registered Married 9506 46.8
    Not Married 8839 43.6
    Defacto Relationship 1946 9.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 24792 92.5
    New Zealand 101 0.4
    Papua New Guinea 316 1.2
    United Kingdom 661 2.5
    Other 239 0.9
    Others 701 2.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 208 0.8
    Christianity 19042 73.9
    Hinduism 63 0.2
    Islam 59 0.2
    No Religion 6321 24.5
    Others 74 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 1285 13.1
    $600-$799 1130 11.6
    $800-$999 986 10.1
    $1,000-$1,249 965 9.9
    $1,500-$1,999 1207 12.3
    Others 4209 43.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 7757 35.8
    Not in the labour force 7662 35.3
    Employed, worked part-time 4687 21.6
    Employed, away from work 854 3.9
    Unemployed, looking for work 715 3.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 2571 19.3
    Technicians & trades workers 1989 15.0
    Clerical & administrative workers 1550 11.7
    Sales 1606 12.1
    Labourers 1758 13.2
    Others 3823 28.8
    Occupation
    Census Count Percent(%)
    Pre-school 361 5.6
    Infants/Primary 2244 34.5
    Secondary 1957 30.1
    Technical or Further Educational Institution 836 12.9
    University or other Tertiary Institutions 946 14.5
    Others 159 2.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 22530 87.1
    Semi-detached, row or terrace house, townhouse 1212 4.7
    Flat, unit or apartment 2045 7.9
    Caravan, cabin, houseboat 30 0.1
    House or flat attached to a shop, office 60 0.2
    Others 4 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 3839 36.4
    Rented 3483 33.0
    Being purchased 3114 29.5
    Other tenure type 124 1.2
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals