Suburb Profile Report for Warrnambool VIC (3280)

Warrnambool House: Median price $320,000, Annual capital growth 1.79%, Number of sales 464, Weekly median advertised rent $320

Warrnambool Unit: Median price $259,995, Annual capital growth 2.15%, Number of sales 95, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Warrnambool is in the bottom 10% in VIC when comparing median price capital growth over the last year. Warrnambool gave property investors a dismal capital gain figure when compared to the rest of the state, with -3.03%.

Warrnambool,3280 was ranked 3160 in Australia by increase in median property value over the quarter.

LACK OF BUYER INTEREST may well be the reason that Warrnambool is offering property investors an average of -6.04. This rate of discount on properties puts Suburb at number 242th in terms of most discounted suburbs in VIC

Often selling an investment property can take time, and in Warrnambool the average time real estate has been on the market is 100.82 days.

Warrnambool, 3280’s gross rental yield is 5.20%

Over the last year, property investments in Warrnambool, 3280 have given investors a capital gain of 0.38%. This compares badly with the 3.19% for VIC as a whole.

If we look at median property appreciation over just the last three months, Warrnambool has given property investors a paper return of 0.00%. This puts Suburb as 192 on a list of fastest fasting appreciating suburbs in VIC

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.14% offered to property buyers. Sellers in Warrnambool itself are offering an average vendor discount of -7.71% to real estate investors.

A $250 per week rent on the median house gives suburb investors a gross yield of circa 5.00%, without taking into account capital value appreciation, which has been averaging out at 2.15%.

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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
HOUSE UNIT
$320,000 $259,995
-1.54% 0.00%
-3.03% 0.38%
1.79% 2.15%
$320 $250
464 95
5.20% 5.00%
100.82 123.9

Source: CoreLogic

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