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Ocean Grove, VIC 3226

Home » VIC Real Estate Data » Greater Geelong City, VIC » Ocean Grove, VIC 3226

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 Ocean Grove, VIC 3226 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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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 “Ocean Grove, VIC 3226”

  1. The total adult population (15 years or older) of Ocean Grove 3226 VIC is 14,168, with a median age of 43. Of those, 54.96% are married, 11.62% are divorced or separated, 28.37% are single and 5.01% are widowed.

    The average household size is 2.5 people per dwelling, and the median household monthly income is estimated to be $9,196. The median monthly mortgage repayment for households in this suburb is $2,000 which is 21.75% of their earnings.

    Source: ABS Census Data (2021)

  2. The charming suburb of Ocean Grove, postcode 3226, is nestled within the greater area of Victoria, Australia. The region is home to an estimated 10,839 households and boasts a robust local property market. As we step into the third quarter of 2023, the typical price for houses stands at a stately AUD 1,109,008.

    For potential investors, the property market rewards with a median weekly rent of AUD 530, translating to an indicative yield of just shy of 2.5%. While this falls slightly below the minimum 3% yield preferred by cashflow-centric investors, the suburb possesses other merits that may attract the savvy investor.

    The socio-economic structure of Ocean Grove is impressive, with an IRSAD score of 1054 out of 1217 – a testament to the community’s healthy economic resources and relative affluence. Given the strong economic performance, the renter-to-owner ratio in the suburb is a favourable 18%, significantly below the 30% threshold that typically flags potential rental oversaturation and competition among investors.

    Adding to its appeal for property investors is the units-to-houses ratio of a mere 10%. A smaller proportion of units implies lesser rental competition, thus promising sustained rental yields and catering to long-term tenants, specifically families.

    However, one metric tipping towards an unfavourable band is the ‘years to own’ or Affordability Index, which sits high at 47 years, fuelled by the suburb’s robust property prices. This might suggest that homes in Ocean Grove may be out of reach for the average buyer.

    In terms of supply, Ocean Grove presents an encouraging picture. The suburb has a low stock on market Percentage of 0.37% and an inventory level for housing at 1.52 months – speaking volumes of a market where demand meets supply evenly. building approvals hover at 0.51%, well within safe bounds for investment, thereby negating the risk of oversupply.

    Movement within the market is reasonable, with houses spending an average of 60 days on the market. Moreover, the online buy search index for properties stands at 4 – somewhat neutral, indicating steady digital interest for buying properties in the area. However, the suburb does have a slightly above-average combined vacancy rate of 3.69% for houses and units; although not very high, this figure indicates a moderate level of unoccupied properties.

    In conclusion, while Ocean Grove displays a mixed bag of statistics, overall, it presents a relatively healthy property market. It’s essential to keep an eye on market trends and variations in these metrics, as they form a valuable research tool for making smart property investment decisions. And to make research endeavours more seamless, consider exploring tools like the HtAG Analytics’ Relative Composite Score that collates comprehensive data from over 80 metrics.

    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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