Suburb Profile Report for Warrnambool VIC (3280)

Warrnambool House: Median price $320,250, Annual capital growth 1.77%, Number of sales 465, Weekly median advertised rent $320

Warrnambool Unit: Median price $249,950, Annual capital growth 1.07%, Number of sales 117, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in Warrnambool have tracked lower than the VIC average of 9.78% over the last 12 months.

Across a shorter period, Warrnambool, 3280 has seen a median price increase of 0.08% over the last quarter.

The most recent median price for Warrnambool is $320250, with sellers offering an average of -5.70% off the asking price.

Residents and property investors in Warrnambool have been waiting around 100.09 days to sell a property.

Warrnambool, 3280 ranked 311th in VIC when comparing growth in median property values or capital gain over the last 12 months. Warrnambool is one of 2098 in our list for VIC

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Warrnambool has fallen somewhat when compared to the 5 year average annual rate.

LACK OF BUYER INTEREST may well be the reason that Warrnambool is offering property investors an average of -4.95. This rate of discount on properties puts Suburb at number 39th in terms of most discounted suburbs in VIC

Using the current median advertised rental of $250 and the average annual increase in value of a median property of 1.07%, investors should hope to achieve an overall return of 5.20%

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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
$320,250 $249,950
0.08% 0.40%
-2.06% -3.87%
1.77% 1.07%
$320 $250
465 117
5.20% 5.20%
100.09 117.5

Source: CoreLogic

DSR Score for property investment : Above average (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