Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $706,000, Annual capital growth 8.18%, Number of sales 148, Weekly median advertised rent $370

Geelong West Unit: Median price $388,000, Annual capital growth 4.90%, Number of sales 28, Weekly median advertised rent $295

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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With a capital gain of 13.87% for the last 12 months, Geelong West, 3218 has performed for property investments than its average annual 8.18% property growth over the last 5 years.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Geelong West has increased when compared to the 5 year average annual rate.

Property buyers and investors in Geelong West 3218 should be seeing an average reduction in asking price of around -4.97% . This means that Geelong West is holding prices well when compared to other suburbs in VIC.

At number 749th in the list of Australian suburbs ordered by increase in median house value over the last year, Geelong West, 3218 is in the top half with a property value increase of 2.78% recorded in median house prices.

Taking the average capital gain, or increase in median house value, Geelong West,3218 has racked up an average of 2.78% over the period. This ranks it number 527th in the whole country for real estate investors looking at median house price increases.

Property investors looking for a bargain in Geelong West should be aiming for at least -3.39% off the asking price, which is the average vendor discount being achieved at the moment.

On average over the past year, suburb has had 2.33 sales per month, which equates to 28 per year.

With the median price for a house in Geelong West being $388000 and the advertised rent reaching $295 the gross rental yield for property investors calculates out to be 3.95%

Metrics i HOUSE UNIT
$706,000 $388,000
1.00% -5.37%
13.87% 2.78%
8.18% 4.90%
$370 $295
148 28
2.73% 3.95%
41.95 58.8

Source: CoreLogic

DSR Score for property investment : Good (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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