Suburb Profile Report for Ouyen VIC (3490)

Ouyen House: Median price $115,000, Annual capital growth 5.12%, Number of sales 26, Weekly median advertised rent N/A

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

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

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Property value increases in Ouyen have tracked higher than the VIC average of 4.41% over the last 12 months.

Taking the average capital gain, or increase in median house value, Ouyen,3490 has racked up an average of 27.78% over the period. This ranks it number 3852th in the whole country for real estate investors looking at median house price increases.

LACK OF BUYER INTEREST may well be the reason that Ouyen is offering property investors an average of -6.34. This rate of discount on properties puts Suburb at number 7th in terms of most discounted suburbs in VIC

Information supplied by:


April 2019

M
O

W
E

Values continue to spiral downwards

Postcode: 3490

Median house price: $91,500

Three-year growth: -8.5%

Rental yield: 10.2%

Right in the heart of Victoria’s Mallee region, Ouyen is bordered by national parks that offer access to a collection of native, drought-resistant wildflowers, local wildlife and stunning landscape views.

These national parks include Wyperfeld, Hattah-Kulkyne and Murray Sunset. The suburb itself mainly subsists on dry-land agriculture, such as the farming of wheat and barley. The lambs raised here are also of premium quality.

There is a shopping centre in town, a restored ROXY theatre and facilities for lawn tennis and golf. Ouyen Lake stretches across 14 hectares and is great for picnicking and boating.

The suburb has been characterised by negative growth since 2016, with house values plummeting by 26.8% in the year to January 2019 and then by another 14.9% in the January quarter. This brings the median price down to under $100,000.

 

Metrics i HOUSE UNIT
$115,000 N/A
16.16% N/A
27.78% N/A
5.12% N/A
N/A N/A
26 N/A
N/A N/A
102.384615384615 N/A

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

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 1082
Median household income ($/weekly) 795
Median age of persons 48
Median housing loan repayment ($/monthly) 780
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 119 11.0
    35-44 years 111 10.3
    45-54 years 148 13.7
    55-64 years 174 16.1
    75-84 years 111 10.3
    Others 418 38.7
    Age Group
    Census Count Percent(%)
    Registered Married 409 54.9
    Not Married 284 38.1
    Defacto Relationship 52 7.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 962 94.8
    Indonesia 8 0.8
    Papua New Guinea 6 0.6
    United Kingdom 18 1.8
    Other 8 0.8
    Others 13 1.3
    Country of Birth
    Census Count Percent(%)
    Christianity 766 78.8
    No Religion 184 18.9
    Other Religious Groups 11 1.1
    Buddhism 8 0.8
    Hinduism 3 0.3
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 48 13.0
    $400-$599 53 14.4
    $600-$799 47 12.7
    $1,000-$1,249 34 9.2
    $1,500-$1,999 35 9.5
    Others 152 41.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 379 44.3
    Employed, worked full-time 284 33.2
    Employed, worked part-time 131 15.3
    Employed, away from work 41 4.8
    Unemployed, looking for work 21 2.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 97 21.4
    Professionals 63 13.9
    Technicians & trades workers 56 12.4
    Machinery operators & drivers 50 11.0
    Labourers 64 14.1
    Others 123 27.2
    Occupation
    Census Count Percent(%)
    Infants/Primary 72 38.3
    Secondary 67 35.6
    Pre-school 20 10.6
    Technical or Further Educational Institution 17 9.0
    University or other Tertiary Institutions 12 6.4
    Others 0 0.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 917 96.2
    Flat, unit or apartment 15 1.6
    Semi-detached, row or terrace house, townhouse 12 1.3
    House or flat attached to a shop, office 5 0.5
    Caravan, cabin, houseboat 4 0.4
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 223 54.4
    Rented 97 23.7
    Being purchased 87 21.2
    Other tenure type 3 0.7
    Tenure Type
Census 2011, ABS
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