Suburb Profile Report for Geelong VIC (3220)

Geelong House: Median price $690,000, Annual capital growth 6.39%, Number of sales 91, Weekly median advertised rent $395

Geelong Unit: Median price $495,000, Annual capital growth 2.50%, Number of sales 48, Weekly median advertised rent $350

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in Geelong have tracked close to the VIC average of 11.63% over the last 12 months.

When looking at the potential capital gains offered to property investors over the last 3 years, Geelong comes in at number 333th in VIC.

LACK OF BUYER INTEREST may well be the reason that Geelong is offering property investors an average of -5.00. This rate of discount on properties puts Suburb at number 173th in terms of most discounted suburbs in VIC

With the median price for a house in Geelong being $690000 and the advertised rent reaching $395 the gross rental yield for property investors calculates out to be 2.98%

VIC has seen average median house prices change by 6.52% which means that Geelong, 3220 has done well for property investors by showing a capital gain of -3.51% over the last year

Geelong,3220 was ranked 1663 in Australia by increase in median property value over the quarter.

Vendor discounting in Geelong is giving property investors an average Vendor Discount of around -6.15%. This puts suburb at number 56th in VIC when ranking the most discounted suburbs.

In the last year 48 properties changed hands in Geelong, which puts it as the 187th most active market in VIC when comparing the number of sales per suburb.

Geelong, 3220’s gross rental yield is 3.68%

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It’s no surprise that Geelong made Your Investment Property's top 100 in 2012, as this is one town that’s being spoken of with high regard in the property investment world Full summary

It’s no surprise that Geelong made Your Investment Property's top 100 in 2011, as this is one town that’s being spoken of with high regard in the property investment world.

Looking ahead, the completion of the first stages of the $380m Geelong Ring Road and the mooted regional rail upgrade are expected to attract more Melburnians to this cheaper, quieter satellite city.

“The Geelong ring road has also been under construction for a couple of years,” says hotspotting.com.au founder Terry Ryder. “Geelong used to be a huge traffic bottle neck, so it’s more conceivable for people to live in Geelong and work in Melbourne.”

With median prices creeping up towards outer-Melbourne territory, there are question marks over its long-term growth prospects. That said, its medium-term outlook is strong, but keep an eye on whether local and state government initiatives succeed in putting Geelong on the map as a strong regional employment hub in its own right.

Close
Metrics i HOUSE UNIT
$690,000 $495,000
-1.43% -10.00%
11.29% -3.51%
6.39% 2.50%
$395 $350
91 48
2.98% 3.68%
88.07 136.76

Source: CoreLogic

DSR Score for property investment : Balanced (H), Balanced (U)
Find a mortgage broker in Geelong VIC
Demographics
Total population 4700
Median household income ($/weekly) 1216
Median age of persons 40
Median housing loan repayment ($/monthly) 1733
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 476 10.1
    25-34 years 750 16.0
    35-44 years 615 13.1
    45-54 years 634 13.5
    55-64 years 656 14.0
    Others 1568 33.4
    Age Group
    Census Count Percent(%)
    Not Married 1704 49.6
    Registered Married 1379 40.1
    Defacto Relationship 352 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3434 78.8
    Japan 108 2.5
    Malta 69 1.6
    United Kingdom 181 4.2
    Other 107 2.5
    Others 459 10.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 91 2.2
    Christianity 2802 67.4
    Islam 47 1.1
    Other Religious Groups 41 1.0
    No Religion 1133 27.3
    Others 41 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 157 9.1
    $600-$799 164 9.5
    $800-$999 152 8.8
    $1,500-$1,999 216 12.5
    $2,000-$2,499 150 8.7
    Others 888 51.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1535 39.7
    Not in the labour force 1248 32.3
    Employed, worked part-time 826 21.3
    Unemployed, looking for work 138 3.6
    Employed, away from work 122 3.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 300 12.1
    Professionals 742 29.9
    Technicians & trades workers 348 14.0
    Community & personal service workers 256 10.3
    Clerical & administrative workers 306 12.3
    Others 528 21.3
    Occupation
    Census Count Percent(%)
    Pre-school 52 5.1
    Infants/Primary 226 22.1
    Secondary 195 19.0
    Technical or Further Educational Institution 107 10.4
    University or other Tertiary Institutions 403 39.4
    Others 41 4.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2812 70.2
    Flat, unit or apartment 721 18.0
    Semi-detached, row or terrace house, townhouse 419 10.5
    House or flat attached to a shop, office 51 1.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 795 42.8
    Fully owned 606 32.6
    Being purchased 446 24.0
    Other tenure type 10 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals