Suburb Profile Report for Geelong West VIC (3218)

Geelong West House: Median price $837,000, Annual capital growth 7.91%, Number of sales 159, Weekly median advertised rent $430

Geelong West Unit: Median price $629,000, Annual capital growth 9.41%, Number of sales 40, Weekly median advertised rent $360

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

Source: Monthly data update for Mar 2022 as supplied by CoreLogic. Data is reported to the period ending Dec 2021. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Property value increases in Geelong West have tracked just higher than the VIC average of 15.07% over the last 12 months.

Taking the average capital gain, or increase in median house value, Geelong West,3218 has racked up an average of 16.25% over the period. This ranks it number 2247th in the whole country for real estate investors looking at median house price increases.

Geelong West3218 is located in VIC which offers an average discount of -2.15% to property investors. Geelong West itself is showing figures that indicate -7.48% is the average achievable by property buyers investing in the suburb.

Property investors should expect to get $430 weekly from the median priced house in this suburb.

Over the last year, property investments in Geelong West, 3218 have given investors a capital gain of 37.26%. This compares very favourably with the 8.64% for VIC as a whole.

The five-year average increase in median property values for Geelong West,3218 has given property investors a potential capital gain of 67.73% across each of those five years.

At number 214th of VIC’s most discounted properties, Geelong West is in the TOP 20% of the state/territory when listing in order of most discounted to least.

Using the current median advertised rental of $360 and the average annual increase in value of a median property of 9.41%, investors should hope to achieve an overall return of 2.98%

Metrics i HOUSE UNIT
$837,000 $629,000
3.98% 1.33%
16.25% 37.26%
7.91% 9.41%
$430 $360
159 40
2.67% 2.98%
56.5862068965517 57.3809523809524

Source: Monthly data update for Mar 2022 as supplied by CoreLogic. Data is reported to the period ending Dec 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (U), Good (H)
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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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