Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $690,000, Annual capital growth 6.34%, Number of sales 128, Weekly median advertised rent $393

Geelong West Unit: Median price $435,000, Annual capital growth 7.31%, Number of sales 35, Weekly median advertised rent $370

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

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

  • House Report
  • Unit Report

Geelong West, 3218 ranked 439th 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

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

Our latest figures would indicate that property sellers in Geelong West are currently offering property investors an average price cut of -6.58% 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 55 days.

With the median price for a house in Geelong West being $690000 and the advertised rent reaching $392.5 the gross rental yield for property investors calculates out to be 2.96%

If you compare the increase in value of investment property in Geelong West, 3218 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 7.01%.

If we look at median property appreciation over just the last three months, Geelong West has given property investors a paper return of -13.00%. This puts Suburb as 360 on a list of fastest fasting appreciating suburbs in VIC

Renters in Suburb are facing rents around $19240 per annum or $370 every week.

Metrics i HOUSE UNIT
$690,000 $435,000
0.73% -13.00%
4.23% 7.01%
6.34% 7.31%
$393 $370
128 35
2.96% 4.42%
55 52.5263157894737

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

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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