Suburb Profile Report for Corio VIC (3214)

Corio House: Median price $355,000, Annual capital growth 6.90%, Number of sales 250, Weekly median advertised rent $300

Corio Unit: Median price $310,000, Annual capital growth 6.36%, Number of sales 19, Weekly median advertised rent $255

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

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

  • Expert Report
  • House Report
  • Unit Report

Giving property investors a an average capital gain of -1.39% for the last year, Corio, 3214 is the 1953th highest performer in Australia in this respect.

Over the longer term, Corio has seen property prices show investors a 47.30% return over the last 3 years. This is worse than over the last 12 months

The most recent median price for Corio is $355000, with sellers offering an average of -8.27% off the asking price.

Situated 60.49km from the CBD, Corio is one of Greater Geelong (C) localities in the postcode 3214.

Over the last year, property investments in Corio, 3214 have given investors a capital gain of 16.98%. This compares very favourably with the 0.68% for VIC as a whole.

The five-year average increase in median property values for Corio,3214 has given property investors a potential capital gain of 28.10% across each of those five years.

Sellers are offering property buyers an average discount of -9.44% to buyers in Corio at the moment, which is less than average for the rest of VIC.

Using the current median advertised rental of $255 and the average annual increase in value of a median property of 6.36%, investors should hope to achieve an overall return of 4.28%

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
$355,000 $310,000
-3.40% -1.51%
-1.39% 16.98%
6.90% 6.36%
$300 $255
250 19
4.39% 4.28%
61.7117903930131 70.3888888888889

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

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