Suburb Profile Report for Corio VIC (3214)

Corio House: Median price $360,000, Annual capital growth 6.10%, Number of sales 240, Weekly median advertised rent $320

Corio Unit: Median price $307,500, Annual capital growth 4.80%, Number of sales 20, Weekly median advertised rent $263

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

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

  • Expert Report
  • House Report
  • Unit Report

Property value increases in Corio have tracked lower than the VIC average of 4.41% over the last 12 months.

While Corio,3214 ranked number 316th in VIC for increase in median house value (annualised) increase, it is ranked 173th over the last 5 years.

Sellers are offering property buyers an average discount of -7.02% to buyers in Corio at the moment, which is less than average for the rest of VIC.

Often selling an investment property can take time, and in Corio the average time real estate has been on the market is 61.8019 days.

With the median price for a house in Corio being $360000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.62%

VIC has seen average median house prices change by 7.35% which means that Corio, 3214 has done well for property investors by showing a capital gain of 0.00% over the last year

Corio,3214 has offered an average of 0.00% return per annum in house price rises to property investors over the last three years.

In the last year 20 properties changed hands in Corio, which puts it as the 295th most active market in VIC when comparing the number of sales per suburb.

A $262.5 per week rent on the median house gives suburb investors a gross yield of circa 4.44%, without taking into account capital value appreciation, which has been averaging out at 4.80%.

Information supplied by:


March 2018

M
O

W
E

Affordability lifts Geelong suburb

Postcode: 3214

Median unit price: $242,000

Three-year growth: 15.2%

Rental yield: 4.7%

One of the biggest suburbs in the Geelong area, Corio displays significant growth potential that could attract investors looking to stake a claim in Victoria.

The low price tag certainly does not hurt, with Corio apartments coming in at a median price of under $250,000. This is accompanied by spikes in growth over the past five years leading up to December 2017 – in the December 2017 quarter alone, the suburb recorded a 7.6% increase in prices. Rental returns are strong as well at an average of 4.7%.

Corio is primarily a residential and industrial suburb, and is well located just 9km from the Geelong CBD. It is home to the Corio Shopping Centre, and is served by the Corio railway station.

Metrics i HOUSE UNIT
$360,000 $307,500
1.84% 0.00%
-3.23% 0.00%
6.10% 4.80%
$320 $263
240 20
4.62% 4.44%
61.8018867924528 78.1764705882353

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

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Corio VIC
Demographics
Total population 15072
Median household income ($/weekly) 842
Median age of persons 34
Median housing loan repayment ($/monthly) 1192
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 2128 14.1
    25-34 years 1873 12.4
    35-44 years 1905 12.6
    45-54 years 1976 13.1
    55-64 years 1734 11.5
    Others 5456 36.2
    Age Group
    Census Count Percent(%)
    Not Married 5236 48.7
    Registered Married 4415 41.1
    Defacto Relationship 1098 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 11174 78.3
    New Zealand 192 1.3
    Philippines 185 1.3
    United Kingdom 761 5.3
    Other 587 4.1
    Others 1370 9.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 217 1.6
    Christianity 8866 65.8
    Islam 308 2.3
    Other Religious Groups 61 0.5
    No Religion 3989 29.6
    Others 33 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 748 15.4
    $600-$799 661 13.6
    $800-$999 561 11.5
    $1,000-$1,249 571 11.7
    $1,500-$1,999 515 10.6
    Others 1809 37.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 5090 45.5
    Employed, worked full-time 3148 28.1
    Employed, worked part-time 1907 17.0
    Unemployed, looking for work 630 5.6
    Employed, away from work 420 3.8
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 909 16.6
    Community & personal service workers 699 12.8
    Sales 650 11.9
    Machinery operators & drivers 756 13.8
    Labourers 1160 21.2
    Others 1301 23.8
    Occupation
    Census Count Percent(%)
    Pre-school 246 6.7
    Infants/Primary 1215 33.0
    Secondary 1444 39.2
    Technical or Further Educational Institution 333 9.0
    Other type of educational institution 234 6.4
    Others 211 5.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 13415 95.5
    Flat, unit or apartment 430 3.1
    Semi-detached, row or terrace house, townhouse 186 1.3
    House or flat attached to a shop, office 20 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1890 36.0
    Being purchased 1698 32.3
    Fully owned 1633 31.1
    Other tenure type 34 0.6
    Tenure Type
Census 2011, ABS
Chart Table