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Geelong West, VIC 3218

Home » VIC Real Estate Data » Greater Geelong City, VIC » Geelong West, VIC 3218

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 Geelong West, VIC 3218 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.

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Yield 

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Buy 

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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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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 “Geelong West, VIC 3218”

  1. The total adult population (15 years or older) of Geelong West 3218 VIC is 6,085, with a median age of 36. Of those, 39.64% are married, 13.62% are divorced or separated, 42.53% are single and 4.14% are widowed.

    The average household size is 2.2 people per dwelling, and the median household monthly income is estimated to be $10,044. The median monthly mortgage repayment for households in this suburb is $1,996 which is 19.87% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Geelong West, postal code 3218, is nestled in the heart of Victoria, Australia. Home to approximately 4328 households, this is a thriving community with a bustling property market. As we move into the third quarter of 2023, a closer inspection of the statistics reveals intricate details of the market conditions for houses in this dynamic suburb.

    The typical price of houses in Geelong West stands at $984,203, while the median weekly rent sits comfortably at $499. This indicates a yield of 2.64%, reflecting a modest return on investment from rent relative to the property value. Although slightly below the ideal threshold of 3% yield for cashflow-focused investors, there might be opportunities for capital gains given the right market conditions.

    At the socio-economic level, Geelong West scores 1040 out of 1217 on the IRSAD scale, indicating a relatively affluent populace with access to ample economic resources. This score is quite favourable, making it an appealing location for prospective buyers and investors.

    Moreover, the suburb’s renter to owner percentage is at 40%, providing a balanced investment environment that is neither too saturated nor too lacking in rental properties. With a units to houses ratio of 14%, Geelong West exhibits a favourable balance, favouring a longer average tenancy. An oversupply of units poses the risk of over-saturation and possible price drops, therefore, this low ratio is a positive sign for potential investors.

    With the affordability index for the suburb being 38 years, full home ownership may seem like an uphill task for most families. Extracting out affordability implications from this metric, it indicates a lesser degree of affordability, making it potentially more favorable for investors rather than first-time buyers.

    An examination of supply metrics shows a stock on market Percentage for houses at 0.3%, well within the favourable range of 0.4 and below. This signifies a low supply which could conduct to upward price pressure. Contributing to this low supply environment, the inventory level is at 1.06 months and the building approval ratio is 0.3%.

    In terms of demand metrics, houses in the suburb remain on the market for an average of 59 days, falling in the neutral range, indicating balanced market conditions. The combined vacancy rate for houses and units is 2.41%, highlighting a balanced demand-supply scenario. The buy search index for houses holds steady at 5, aligning with the suburban average and reflecting a maintained interest among prospective buyers.

    In essence, while the yield might seem slightly subdued, the array of favourable metrics related to supply, demand and socio-economic indicators imply that Geelong West holds potent investment appeal. It’s essential, as always, to keep a keen eye on such market fundamentals when contemplating investment decisions in the Australian property market.

    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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