Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $660,000, Annual capital growth 7.72%, Number of sales 139, Weekly median advertised rent $400

Geelong West Unit: Median price $360,000, Annual capital growth 4.91%, Number of sales 21, Weekly median advertised rent $340

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

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

  • House Report
  • Unit Report

Investment property in Geelong West has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -5.24%

Geelong West,3218 has offered an average of -5.24% return per annum in house price rises to property investors over the last three years.

Geelong West3218 is located in VIC which offers an average discount of -6.90% to property investors. Geelong West itself is showing figures that indicate -6.18% is the average achievable by property buyers investing in the suburb.

At number 868 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 61.427 for properties listed there.

Situated 65.25km from the CBD, Geelong West is one of Greater Geelong (C) localities in the postcode 3218.

VIC has seen average median house prices change by 0.68% which means that Geelong West, 3218 has done well for property investors by showing a capital gain of -14.29% over the last year

Over the longer term, Geelong West has seen property prices show investors a -4.00% return over the last 3 years. This is worse than over the last 12 months

Our latest figures would indicate that property sellers in Geelong West are currently offering property investors an average price cut of -8.28% below the asking price at the moment.

Often selling an investment property can take time, and in Geelong West the average time real estate has been on the market is 93 days.

With the median price for a house in Geelong West being $360000 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 4.91%

Metrics i HOUSE UNIT
$660,000 $360,000
-3.30% 5.11%
-5.24% -14.29%
7.72% 4.91%
$400 $340
139 21
3.15% 4.91%
61.4269662921348 93

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

DSR Score for property investment : Above average (H), Good (U)
Find a mortgage broker in Geelong West VIC
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
Chart Table