Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $720,000, Annual capital growth 6.76%, Number of sales 129, Weekly median advertised rent $390

Geelong West Unit: Median price $477,500, Annual capital growth 8.42%, Number of sales 30, Weekly median advertised rent $390

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: Monthly data update for Feb 2021 as supplied by CoreLogic. Data is reported to the period ending Nov 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Property investors who have had real estate in Geelong West, 3218 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 12.94%

A 50.00% growth in median value for property investors in Geelong West,3218 puts this suburb at number 180th in terms of best performing suburbs in VIC

Property buyers and investors in Geelong West 3218 should be seeing an average reduction in asking price of around -4.42% . This means that Geelong West is holding prices well when compared to other suburbs in VIC.

The VIC suburb of Geelong West, 3218 is in the Greater Geelong (C) local government area.

If you compare the increase in value of investment property in Geelong West, 3218 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -4.50%.

While Geelong West,3218 ranked number 73th in VIC for increase in median house value (annualised) increase, it is ranked 95th over the last 5 years.

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.17% offered to property buyers. Sellers in Geelong West itself are offering an average vendor discount of -3.76% to real estate investors.

Residents and property investors in Geelong West have been waiting around 68.65 days to sell a property.

A $390 per week rent on the median house gives suburb investors a gross yield of circa 4.25%, without taking into account capital value appreciation, which has been averaging out at 8.42%.

Metrics i HOUSE UNIT
$720,000 $477,500
4.35% 4.20%
12.94% -4.50%
6.76% 8.42%
$390 $390
129 30
2.82% 4.25%
49.2352941176471 68.65

Source: Monthly data update for Feb 2021 as supplied by CoreLogic. Data is reported to the period ending Nov 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Very good (U)
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Demographics
Total population 6682
Median household income ($/weekly) 1129
Median age of persons 35
Median housing loan repayment ($/monthly) 1664
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 713 10.7
    25-34 years 1177 17.6
    35-44 years 1145 17.1
    45-54 years 797 11.9
    55-64 years 663 9.9
    Others 2188 32.7
    Age Group
    Census Count Percent(%)
    Not Married 2480 49.4
    Registered Married 1920 38.2
    Defacto Relationship 620 12.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 5264 82.6
    Croatia 75 1.2
    Japan 153 2.4
    United Kingdom 235 3.7
    Other 173 2.7
    Others 470 7.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 81 1.3
    Christianity 3991 65.3
    Hinduism 35 0.6
    Islam 80 1.3
    No Religion 1887 30.9
    Others 36 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 246 9.4
    $400-$599 292 11.1
    $1,000-$1,249 245 9.3
    $1,500-$1,999 316 12.0
    $2,000-$2,499 249 9.5
    Others 1275 48.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2159 41.5
    Not in the labour force 1534 29.5
    Employed, worked part-time 1134 21.8
    Unemployed, looking for work 193 3.7
    Employed, away from work 178 3.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 390 11.2
    Professionals 976 28.1
    Technicians & trades workers 498 14.4
    Community & personal service workers 367 10.6
    Clerical & administrative workers 427 12.3
    Others 810 23.4
    Occupation
    Census Count Percent(%)
    Pre-school 128 7.7
    Infants/Primary 470 28.1
    Secondary 329 19.7
    Technical or Further Educational Institution 211 12.6
    University or other Tertiary Institutions 464 27.8
    Others 70 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5188 82.2
    Flat, unit or apartment 614 9.7
    Semi-detached, row or terrace house, townhouse 497 7.9
    House or flat attached to a shop, office 11 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1099 39.2
    Being purchased 935 33.4
    Fully owned 752 26.8
    Other tenure type 15 0.5
    Tenure Type
Census 2011, ABS
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