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Corio, VIC 3214

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Corio, VIC 3214 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Corio, VIC 3214”

  1. The total adult population (15 years or older) of Corio 3214 VIC is 12,622, with a median age of 35. Of those, 35.21% are married, 13.63% are divorced or separated, 45.12% are single and 5.98% are widowed.

    The average household size is 2.5 people per dwelling, and the median household monthly income is estimated to be $5,388. The median monthly mortgage repayment for households in this suburb is $1,300 which is 24.13% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburban region of Corio, postcode 3214, in Victoria is home to approximately 7560 households. Moving into the third quarter of 2023, the typical housing price stands at $503,959, with a median weekly rent of $373. This generates an indicative yield of 3.85%, just above the minimum market requirement for investors seeking cash-flow properties.

    From a socio-economic perspective, Corio scores 827 out of a possible 1217 on the IRSAD score. In simpler terms, it indicates a somewhat favourable socio-economic status for the population residing here.

    Renters make up approximately 40% of the tenants in Corio, thereby making it a market balanced between rented properties and owner-occupied homes. The units to houses ratio stands at a low 6% denoting a lower supply of rentals, which works to the advantage of property investors due to less competition and encourages longer tenancy periods.

    However, it’s noted that the affordability index is somewhat high, standing at 37 years. This suggests a decreased level of affordability for residents wishing to fully own a property in Corio, which may influence rental demand.

    The stock on the market for houses is low, with a percentage of only 0.34%, demonstrating a favourable supply. Furthermore, with an inventory level of approximately 1.28 months, it shows a robust uptake of new listings providing some market stability.

    The building approvals ratio sits at 0.46%, indicating a balanced supply of new housing stock coming into the market. The average number of days a house listing remains active in the market is reported as 39 days, a bit higher than desirable, though not critically concerning.

    On the demand side, we note a low vacancy rate of 1.26% for both units and houses signifying a high demand due to limited supply. However, the buy search index standing at 3 could be a sign of limited demand. Overall, Corio’s property market presents a mix of favourable and neutral trends.

    It’s crucial to remember that the Relative Composite Score (RCS) developed by HtAG Analytics, considering over 80 metrics, can provide a comprehensive view of the property market which is vital for optimised investment decisions. Hence, while some essential and fundamental metrics might not be in the favourable range in Corio, a broader, more nuanced analysis is recommended.

    Keeping a close eye on key real estate data and shifts in market trends is crucial in navigating your property investment pathway, especially in suburbs like Corio.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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