Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $802,500, Annual capital growth 7.78%, Number of sales 150, Weekly median advertised rent $410

Geelong West Unit: Median price $629,000, Annual capital growth 10.30%, Number of sales 39, Weekly median advertised rent $360

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

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

  • House Report
  • Unit Report

Geelong West, 3218 ranked 262th in VIC when comparing growth in median property values or capital gain over the last 12 months. Geelong West is one of 2099 in our list for VIC

Across a shorter period, Geelong West, 3218 has seen a median price increase of 3.08% over the last quarter.

Property investors looking for a bargain in Geelong West should be aiming for at least -6.14% off the asking price, which is the average vendor discount being achieved at the moment.

At number 1018 in a list of fastest selling suburbs, Geelong West is in the TOP 30% of suburbs in Australia with an average of days on market 42.619 for properties listed there.

Renters in Suburb are facing rents around $21320 per annum or $410 every week.

Investment property in Geelong West has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 25.80%

A 67.07% growth in median value for property investors in Geelong West,3218 puts this suburb at number 52th in terms of best performing suburbs in VIC

Residents and property investors in Geelong West have been waiting around 45.7619 days to sell a property.

With the median price for a house in Geelong West being $629000 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 2.98%

Metrics i HOUSE UNIT
$802,500 $629,000
3.08% 6.61%
16.30% 25.80%
7.78% 10.30%
$410 $360
150 39
2.66% 2.98%
42.6190476190476 45.7619047619048

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. 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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