Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $645,000, Annual capital growth 7.47%, Number of sales 129, Weekly median advertised rent $410

Geelong West Unit: Median price $443,250, Annual capital growth 6.53%, Number of sales 22, Weekly median advertised rent $350

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

Source: Monthly data update for Jan 2020 as supplied by CoreLogic. Data is reported to the period ending Oct 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Property value increases in Geelong West have tracked just lower than the VIC average of -0.82% over the last 12 months.

Taking the average capital gain, or increase in median house value, Geelong West,3218 has racked up an average of -7.86% over the period. This ranks it number 657th in the whole country for real estate investors looking at median house price increases.

Geelong West3218 is located in VIC which offers an average discount of -6.94% to property investors. Geelong West itself is showing figures that indicate -6.09% is the average achievable by property buyers investing in the suburb.

With the median price for a house in Geelong West being $645000 and the advertised rent reaching $410 the gross rental yield for property investors calculates out to be 3.31%

VIC has seen average median house prices change by 2.76% which means that Geelong West, 3218 has done well for property investors by showing a capital gain of 7.19% over the last year

Comparing Geelong West,3218 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

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 -7.91% is being offered, which puts this VIC suburb at 247th most discounted overall in Australia.

At number 211 in a list of fastest selling suburbs, Geelong West is in the TOP 20% of suburbs in Australia with an average of days on market 59.2143 for properties listed there.

Advertised rents are around the $350 mark per week – giving a return of 4.11% based on the median price in Suburb

Metrics i HOUSE UNIT
$645,000 $443,250
-1.98% 23.47%
-7.86% 7.19%
7.47% 6.53%
$410 $350
129 22
3.31% 4.11%
59.85 59.2142857142857

Source: Monthly data update for Jan 2020 as supplied by CoreLogic. Data is reported to the period ending Oct 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), 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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