Suburb Profile Report for Grovedale VIC (3216)

Grovedale House: Median price $515,000, Annual capital growth 5.44%, Number of sales 249, Weekly median advertised rent $400

Grovedale Unit: Median price $419,630, Annual capital growth 8.95%, Number of sales 62, Weekly median advertised rent $340

  • 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.

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  • House Report
  • Unit Report

Investment property in Grovedale 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 4.04%

Taking the average capital gain, or increase in median house value, Grovedale,3216 has racked up an average of 4.04% over the period. This ranks it number 441th in the whole country for real estate investors looking at median house price increases.

Grovedale3216 is located in VIC which offers an average discount of -6.34% to property investors. Grovedale itself is showing figures that indicate -5.11% is the average achievable by property buyers investing in the suburb.

Often selling an investment property can take time, and in Grovedale the average time real estate has been on the market is 31.2744 days.

The VIC suburb of Grovedale, 3216 is in the Greater Geelong (C) local government area.

At number 196th in the list of Australian suburbs ordered by increase in median house value over the last year, Grovedale, 3216 is in the top 20% with a property value increase of 13.41% recorded in median house prices.

Taking the average capital gain, or increase in median house value, Grovedale,3216 has racked up an average of 13.41% over the period. This ranks it number 77th in the whole country for real estate investors looking at median house price increases.

Our latest figures would indicate that property sellers in Grovedale are currently offering property investors an average price cut of -6.56% below the asking price at the moment.

The VIC suburb of Grovedale, 3216 is in the Greater Geelong (C) local government area.

Information supplied by:


April 2019

M
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Geelong offers affordability and growth

Postcode: 3216

Median unit price: $362,100

Three-year growth: 35.4%

Rental yield: 4.6%

Located in the increasingly popular Geelong region, the suburb of Grovedale is a haven of German heritage and culture. In fact, it was originally called Germantown because the community was dominated by German Lutheran families in 1849.

Grovedale’s unit prices have seen a remarkable boost over the five years to January 2019, with growth peaking at 35.4% in the last three years. The median value is currently at just over $360,000 – a great value for buyers.

The suburb sits on the Surf Coast Highway, which leads to the Geelong city centre and to Torquay. Public transport options for residents include buses to Geelong via Deakin University, Belmont, Highton and Waurn Ponds.

Grovedale College, which had a reputation for being a model of progressive education when it was established in 1979, is located in this suburb.

Metrics i HOUSE UNIT
$515,000 $419,630
1.98% 4.39%
4.04% 13.41%
5.44% 8.95%
$400 $340
249 62
4.04% 4.21%
31.2744186046512 38.462962962963

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 : Very good (H), Very good (U)
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Demographics
Total population 14153
Median household income ($/weekly) 1133
Median age of persons 38
Median housing loan repayment ($/monthly) 1517
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 1706 12.1
    25-34 years 2010 14.2
    35-44 years 1797 12.7
    45-54 years 1751 12.4
    55-64 years 1714 12.1
    Others 5174 36.6
    Age Group
    Census Count Percent(%)
    Registered Married 5436 51.9
    Not Married 4136 39.5
    Defacto Relationship 894 8.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 11811 86.5
    New Zealand 98 0.7
    Papua New Guinea 132 1.0
    United Kingdom 682 5.0
    Other 226 1.7
    Others 703 5.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 91 0.7
    Christianity 9276 71.0
    Hinduism 77 0.6
    Islam 61 0.5
    No Religion 3498 26.8
    Others 64 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 570 11.8
    $600-$799 528 11.0
    $1,000-$1,249 500 10.4
    $1,500-$1,999 658 13.7
    $2,000-$2,499 528 11.0
    Others 2027 42.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 4121 36.8
    Employed, worked full-time 3978 35.5
    Employed, worked part-time 2354 21.0
    Employed, away from work 437 3.9
    Unemployed, looking for work 316 2.8
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1183 17.5
    Technicians & trades workers 1162 17.2
    Community & personal service workers 866 12.8
    Clerical & administrative workers 926 13.7
    Sales 818 12.1
    Others 1812 26.8
    Occupation
    Census Count Percent(%)
    Pre-school 209 6.4
    Infants/Primary 1118 34.3
    Secondary 896 27.5
    Technical or Further Educational Institution 364 11.2
    University or other Tertiary Institutions 538 16.5
    Others 135 4.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 12072 91.5
    Flat, unit or apartment 605 4.6
    Semi-detached, row or terrace house, townhouse 519 3.9
    House or flat attached to a shop, office 4 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2088 40.4
    Fully owned 1848 35.7
    Rented 1139 22.0
    Other tenure type 95 1.8
    Tenure Type
Census 2011, ABS
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