Suburb Profile Report for Minyip VIC (3392)

Minyip House: Median price $84,500, Annual capital growth 8.09%, Number of sales 20, Weekly median advertised rent N/A

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

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

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While Minyip,3392 ranked number 440th in VIC for increase in median house value (annualised) increase, it is ranked 679th over the last 5 years.

Information supplied by:


April 2019

M
O

W
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Sellers need to offer significant discounts

Postcode: 3392

Median house price: $84,500

Three-year growth: -10.1%

Rental yield: 8.9%

Regarded as the “heart of the Wheatbelt,” the suburb of Minyip in the Wimmera region is one of the centres of grain farming in Australia.

House prices in this suburb have been dropping since January 2016, with the median value plummeting all the way to $84,500. While houses sell in an average of less than 60 days, sellers have to offer massive discounts of 12.7% on average.

There are many examples of historical architecture in this suburb, including the Minyip Memorial Hall, old silos, the local railway station and various hotels. The foundation stone of Minyip Hospital is displayed in the town square along with a unique clock. The Lions Children’s Playground is another must-see for history buffs. There are several shops and dining options for residents and visitors alike, and there are also schools for children.

Metrics i HOUSE UNIT
$84,500 N/A
0.00% N/A
N/A N/A
8.09% N/A
N/A N/A
20 N/A
N/A N/A
60.545456 N/A

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

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 671
Median household income ($/weekly) 736
Median age of persons 49
Median housing loan repayment ($/monthly) 542
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 83 12.4
    35-44 years 67 10.0
    45-54 years 102 15.3
    55-64 years 92 13.8
    65-74 years 95 14.2
    Others 229 34.3
    Age Group
    Census Count Percent(%)
    Registered Married 251 54.8
    Not Married 169 36.9
    Defacto Relationship 38 8.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 575 92.0
    New Zealand 5 0.8
    Papua New Guinea 7 1.1
    Philippines 9 1.4
    United Kingdom 22 3.5
    Others 7 1.1
    Country of Birth
    Census Count Percent(%)
    Christianity 495 81.4
    No Religion 110 18.1
    Other Religious Groups 3 0.5
    Buddhism 0 0.0
    Hinduism 0 0.0
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 35 15.2
    $400-$599 43 18.6
    $600-$799 34 14.7
    $800-$999 32 13.9
    $1,000-$1,249 24 10.4
    Others 63 27.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 275 53.4
    Employed, worked full-time 141 27.4
    Employed, worked part-time 73 14.2
    Employed, away from work 15 2.9
    Unemployed, looking for work 11 2.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 80 34.6
    Professionals 21 9.1
    Community & personal service workers 25 10.8
    Clerical & administrative workers 23 10.0
    Labourers 25 10.8
    Others 57 24.7
    Occupation
    Census Count Percent(%)
    Infants/Primary 61 46.6
    Secondary 37 28.2
    University or other Tertiary Institutions 15 11.5
    Pre-school 12 9.2
    Technical or Further Educational Institution 6 4.6
    Others 0 0.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 567 97.8
    Semi-detached, row or terrace house, townhouse 13 2.2
    Flat, unit or apartment 0 0.0
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 145 57.5
    Being purchased 68 27.0
    Rented 28 11.1
    Other tenure type 11 4.4
    Tenure Type
Census 2011, ABS
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