Suburb Profile Report for Terang VIC (3264)

Terang House: Median price $193,000, Annual capital growth 3.42%, Number of sales 48, Weekly median advertised rent $270

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

Source: Monthly data update for Mar 2020 as supplied by CoreLogic. Data is reported to the period ending Dec 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report

Investment property in Terang has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.12%

Over the longer term, Terang has seen property prices show investors a 24.52% return over the last 3 years. This is worse than over the last 12 months

Terang3264 is located in VIC which offers an average discount of -6.80% to property investors. Terang itself is showing figures that indicate -7.26% is the average achievable by property buyers investing in the suburb.

At number 2292 in a list of fastest selling suburbs, Terang is in the bottom 40% of suburbs in Australia with an average of days on market 88.3333 for properties listed there.

A $270 per week rent on the median house gives suburb investors a gross yield of circa 7.27%, without taking into account capital value appreciation, which has been averaging out at 3.42%.

Information supplied by:




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Terang, VIC – Peaceful but well connected

Postcode: 3264

Median house price: $191,950

Three-year growth: 25.9%

Rental yield: 7.3%

Although being a relaxed town that is removed from the bustling capital of Melbourne, Terang offers a wide range of activities that have wide appeal.

Immediate access to a main motorway allows residents to remain connected to work opportunities and amenities that are available in the greater region. While most shopping can be done in the local town, which has a grocery store, the suburbs of Camperdown and Cobden provide further options. Terang also has its own medical centre and school.

The scenic Mt. Noorat Volcano Walk can be experienced nearby, which provides sweeping views, and the suburb is part of the handful of stops that comprise the tourist acclaimed Great Ocean Road Drive.

Metrics i HOUSE UNIT
$193,000 N/A
-3.50% N/A
2.12% N/A
3.42% N/A
$270 N/A
48 N/A
7.27% N/A
88.3333333333333 N/A

Source: Monthly data update for Mar 2020 as supplied by CoreLogic. Data is reported to the period ending Dec 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Balanced (U)
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Demographics
Total population 2348
Median household income ($/weekly) 843
Median age of persons 44
Median housing loan repayment ($/monthly) 1031
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 279 11.9
    35-44 years 265 11.3
    45-54 years 309 13.2
    55-64 years 284 12.1
    65-74 years 264 11.2
    Others 948 40.4
    Age Group
    Census Count Percent(%)
    Registered Married 849 50.4
    Not Married 719 42.7
    Defacto Relationship 115 6.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 2170 95.7
    Indonesia 11 0.5
    New Zealand 15 0.7
    Papua New Guinea 18 0.8
    United Kingdom 31 1.4
    Others 22 1.0
    Country of Birth
    Census Count Percent(%)
    Christianity 1749 80.1
    No Religion 425 19.5
    Buddhism 7 0.3
    Islam 3 0.1
    Hinduism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 109 13.3
    $400-$599 121 14.8
    $600-$799 106 12.9
    $800-$999 93 11.3
    $1,250-$1,499 84 10.2
    Others 307 37.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 773 42.5
    Employed, worked full-time 582 32.0
    Employed, worked part-time 362 19.9
    Employed, away from work 77 4.2
    Unemployed, looking for work 24 1.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 167 16.3
    Professionals 127 12.4
    Technicians & trades workers 151 14.7
    Clerical & administrative workers 114 11.1
    Labourers 142 13.9
    Others 324 31.6
    Occupation
    Census Count Percent(%)
    Pre-school 49 10.3
    Infants/Primary 142 29.9
    Secondary 183 38.5
    Technical or Further Educational Institution 39 8.2
    University or other Tertiary Institutions 39 8.2
    Others 23 4.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2035 94.1
    Flat, unit or apartment 71 3.3
    Semi-detached, row or terrace house, townhouse 22 1.0
    House or flat attached to a shop, office 22 1.0
    Caravan, cabin, houseboat 13 0.6
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 406 45.1
    Being purchased 263 29.2
    Rented 224 24.9
    Other tenure type 7 0.8
    Tenure Type
Census 2011, ABS
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