Suburb Profile Report for Ararat VIC (3377)

Ararat House: Median price $195,000, Annual capital growth 2.60%, Number of sales 159, Weekly median advertised rent $250

Ararat Unit: Median price $116,500, Annual capital growth 17.51%, Number of sales 13, Weekly median advertised rent $220

House
Unit

Source: CoreLogic RP Data

Median price
Number of sales

Source: CoreLogic

House Report
Unit Report

Property value increases in Ararat have tracked lower than the VIC average of 11.69% over the last 12 months.

Across a shorter period, Ararat, 3377 has seen a median price increase of -1.25% over the last quarter.

Our latest figures would indicate that property sellers in Ararat are currently offering property investors an average price cut of -7.66% below the asking price at the moment.

Often selling an investment property can take time, and in Ararat the average time real estate has been on the market is 121.17 days.

A $215 per week rent on the median house gives suburb investors a gross yield of circa 9.60%, without taking into account capital value appreciation, which has been averaging out at 14.18%.

Metrics	HOUSE	UNIT
Median price	$195,000	$116,500
Quarterly growth	-3.70%	-2.10%
12-month growth	-3.70%	N/A
Average Annual Growth	2.60%	17.51%
Weekly median advertised rent	$250	$220
Number of sales	159	13
Gross rental yield	6.67%	9.82%
Days on market	120.26	N/A

Source: CoreLogic

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

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Demographics

Total population	8076
Median household income ($/weekly)	851
Median age of persons	43
Median housing loan repayment ($/monthly)	1000
Average household size	2.3

Census	Count	Percent(%)
5-14 years	968	12.0
35-44 years	1036	12.8
45-54 years	1139	14.1
55-64 years	1097	13.6
65-74 years	822	10.2
Others	3014	37.3

Age Group

Census	Count	Percent(%)
Registered Married	2668	48.0
Not Married	2334	42.0
Defacto Relationship	554	10.0

Social Marital Status

Census	Count	Percent(%)
Australia	7020	90.8
Papua New Guinea	121	1.6
Philippines	39	0.5
United Kingdom	197	2.5
Other	101	1.3
Others	250	3.2

Country of Birth

Census	Count	Percent(%)
Buddhism	42	0.6
Christianity	4787	68.5
Hinduism	19	0.3
Islam	36	0.5
No Religion	2079	29.8
Others	25	0.4

Religious Affiliation

Census	Count	Percent(%)
$300-$399	299	10.9
$400-$599	425	15.5
$600-$799	392	14.3
$800-$999	299	10.9
$1,500-$1,999	279	10.1
Others	1055	38.4

Gross Household Income (Weekly)

Census	Count	Percent(%)
Not in the labour force	2900	45.9
Employed, worked full-time	1962	31.1
Employed, worked part-time	1092	17.3
Employed, away from work	226	3.6
Unemployed, looking for work	136	2.2

Person Characteristics

Census	Count	Percent(%)
Managers	373	11.4
Professionals	406	12.4
Technicians & trades workers	454	13.8
Community & personal service workers	539	16.4
Labourers	587	17.9
Others	919	28.0

Occupation

Census	Count	Percent(%)
Pre-school	129	8.7
Infants/Primary	603	40.4
Secondary	494	33.1
Technical or Further Educational Institution	113	7.6
University or other Tertiary Institutions	108	7.2
Others	44	3.0

Type of Educational Institution Attending

Census	Count	Percent(%)
Separate house	6682	94.3
Flat, unit or apartment	244	3.4
Semi-detached, row or terrace house, townhouse	102	1.4
House or flat attached to a shop, office	31	0.4
Caravan, cabin, houseboat	28	0.4
Others	0	0.0