Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $705,000, Annual capital growth 8.44%, Number of sales 136, Weekly median advertised rent $370

Geelong West Unit: Median price $376,000, Annual capital growth 5.23%, Number of sales 32, Weekly median advertised rent $295

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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If you compare the increase in value of investment property in Geelong West, 3218 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 17.50%.

A 64.82% growth in median value for property investors in Geelong West,3218 puts this suburb at number 71th in terms of best performing suburbs in VIC

Property investors looking for a bargain in Geelong West should be aiming for at least -4.83% off the asking price, which is the average vendor discount being achieved at the moment.

Property value increases in Geelong West have tracked close to the VIC average of 7.50% over the last 12 months.

If we look at median property appreciation over just the last three months, Geelong West has given property investors a paper return of -1.05%. This puts Suburb as 260 on a list of fastest fasting appreciating suburbs in VIC

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Geelong West, 3218. Typically our figures indicate that -3.63% is being offered, which puts this VIC suburb at 1198th most discounted overall in Australia.

Geelong West is 150th on a list of best yielding suburbs for rents in VIC with a 4.08% return

Metrics i HOUSE UNIT
$705,000 $376,000
5.22% -1.05%
17.50% 8.36%
8.44% 5.23%
$370 $295
136 32
2.73% 4.08%
38.77 71.72

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (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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Recent sales & rentals