Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $685,000, Annual capital growth 7.61%, Number of sales 146, Weekly median advertised rent $395

Geelong West Unit: Median price $331,250, Annual capital growth 4.04%, Number of sales 20, Weekly median advertised rent $320

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

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

  • House Report
  • Unit Report

At number 1436th in the list of Australian suburbs ordered by increase in median house value over the last year, Geelong West, 3218 is in the top 40% with a property value increase of 2.85% recorded in median house prices.

A 51.55% growth in median value for property investors in Geelong West,3218 puts this suburb at number 308th in terms of best performing suburbs in VIC

Sellers are offering property buyers an average discount of -5.74% to buyers in Geelong West at the moment, which is less than average for the rest of VIC.

Advertised rents are around the $395 mark per week – giving a return of 3.00% based on the median price in Suburb

Geelong West is in the bottom 10% in VIC when comparing median price capital growth over the last year. Geelong West gave property investors a dismal capital gain figure when compared to the rest of the state, with -12.83%.

When looking at the potential capital gains offered to property investors over the last 3 years, Geelong West comes in at number 318th in VIC.

On average over the past year, suburb has had 1.67 sales per month, which equates to 20 per year.

Advertised rents are around the $320 mark per week – giving a return of 5.02% based on the median price in Suburb

Metrics i HOUSE UNIT
$685,000 $331,250
-0.36% -3.28%
2.85% -12.83%
7.61% 4.04%
$395 $320
146 20
3.00% 5.02%
49.8804347826087 78.2727272727273

Source: Monthly data update for Aug 2019 as supplied by CoreLogic. Data is reported to the period ending May 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 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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