Pyrenees Shire, VIC

The Shire of Pyrenees is a local government area in Western Victoria. The property market is made up of mostly farmland and rural properties. There is a small amount of residential property in the area, but the majority of buyers are looking for acreage and rural properties. The market is relatively stable, with house prices only changing steadily from year to year.

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The Pyrenees Shire economy is based on agriculture, tourism and timber production.

Managers account for 23.1% of employment in Pyrenees, followed by laborers (13.9%), technicians and trades workers (13.5%), professionals (11.2%), and community and personal service workers (10.9%). In Pyrenees, the typical weekly personal income for persons aged 15 and older is $472.

Pyrenees Shire, Victoria’s typical real estate consists of large blocks of land, often consisting of cattle or sheep grazing, as well as some smaller acreages and hobby farms. The area is also known for its wine production, and there are many vineyards and wineries in the region. In Pyrenees, 97.6 % of occupied private residences are detached houses, 0.0 % are semi-detached, row or terrace houses, townhouses, or other buildings, 0.8 % are flats or apartments, and 1.0 % are other dwellings.

When investing in property in the Pyrenees Shire, it is important to consider the local market conditions and the potential for capital growth. The shire is located in a rural area, so property prices are relatively affordable compared to metropolitan areas.

The LGA is also located within a reasonable distance to Melbourne, which is a major regional centre and has a strong economy. This makes the Pyrenees Shire a desirable location for property investment.

Discover the latest real estate trends in Pyrenees Shire property market with the help of interactive dashboard below.

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Capital Growth Heatmap

Property Market Snapshot

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

Buy 

2BR

3BR

4BR

5BR

Typical Price for houses in this council area. Percent changes indicate Year on Year growth or decline in house values. Council area house prices are calculated by averaging Typical Price of all suburbs within the area. Typical Price is a more accurate metric than Median Price.

Rent 

2BR

3BR

4BR

5BR

Median Weekly Rent for houses in this council area. Percent changes indicate Year on Year growth or decline in rental prices. Calculated via median value formula applied to rental prices from online listings.

Yield 

2BR

3BR

4BR

5BR

Yearly Gross Yield for houses in this council area. Calculated by multiplying the Median Rent by 52 and dividing the resulting value by Typical Price. Percent changes indicate Year on Year growth or decline in Gross Yield for houses.

Buy 

1BR

2BR

3BR

Typical Price for units in this council area. Percent changes indicate Year on Year growth or decline in unit values. Council area house prices are calculated by averaging Typical Price of all suburbs within the area. Typical Price is a more accurate metric than Median Price.

Rent 

1BR

2BR

3BR

Median Weekly Rent for units in this council area. Percent changes indicate Year on Year growth or decline in rental prices. Calculated via median value formula applied to rental prices from online listings.

Yield 

1BR

2BR

3BR

Yearly Gross Yield for units in this council area. Calculated by multiplying the Median Rent by 52 and dividing the resulting value by Typical Price. Percent changes indicate Year on Year growth or decline in Gross Yield for units.

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This chart illustrates historical and projected quarterly typical price and number of sales, which are depicted as blue lines and green bars respectively. Council areas with average sales above 30/quarter and suburbs with sales above 7/quarter commonly produce high confidence forecasts.
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This chart shows historical and projected median rent and number of rentals, depicted as red lines and grey bars respectively. In many markets Rent prices lag the Typical Price by 1-2 years.
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This chart presents the gross rental yield, which is the value you generate from an investment property, represented as a percentage. The higher the percentage the better. Yield that is trending down frequently highlights a high demand market.
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Yield chart
This graph represents the dwelling demand profile for the LGA/suburb, which tends to correlate with the tenant preference for property type and number of bedrooms. Target dwelling type and number of bedrooms with the highest number of sales.
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Demand chart
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The chart below shows the proportion of units to houses in this area. Generally speaking the fewer units there are, the better.
unit to houses pie charts
The pie chart below shows the percentage of renters to owners in an area. Generally speaking the more owners the better.
Renters to owners pie chart
The chart below shows the IRSAD score for the area. IRSAD stands for the Index of Relative Advantage and Disadvantage. The higher the index, the more well off the population is in the area.
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IRSAD chart
This graph shows online search interest for sale and rent listings. The black line(s) represents the search index, which is the ratio of LGA/suburb searches to the state average. Value of 5 signifies that Buy/Rent searches are at state average. Be wary of areas with SI below 3.
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Index chart
This chart plots the annual percent change in typical prices for all suburbs in this LGA. Suburbs that cross the red (zero) line more than 3 times present poor capital growth opportunities.
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GRC chart

Confidence: High, Medium, Low

Supply

Stock on Market

Inventory

Hold Period

The most important metric for understanding the supply of homes in a given market. Stock on Market (SoM) is represented by bars which show the number of listings per month, and by a line which indicates the percentage of listed homes compared to the total number of dwellings in the area (SoM Percentage). A higher stock on market indicates a greater supply of properties.
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SOM chart
Inventory levels indicate the amount of stock available in relation to average monthly sales. Inventory levels above 3 months indicate a sizeable amount of stock available, while lower levels indicate diminishing supply. Decreasing inventory level trend can signal that prices may increase in the future.
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Inventory chart
Average number of years properties are re-sold in the area. The higher the value, the lower is the supply in the property market. Changing trend can act as a lead indicator to price increases / decreases.
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

The Days on Market metric shows how long, on average, it takes for listed properties to be sold. A higher number of days means that there is less demand for properties. Measured in days.
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DOM chart
Monthly vacancies (bar) and Vacancy Rates (line) in the area. Vacancy rates serve as a rental market demand indicator. Lower vacancy rates point to greater demand in the rental market. Decreasing vacancy rates can act as a lead indicator to both rental and sale price increases.
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Inventory chart
Auction clearance rates in the area. The higher the clearance rate, the greater is the demand in the market. This metric is most useful at LGA level. Some high density suburbs with active markets can also have good quality clearance rate data. However, this metric is somewhat sparse for 80% of suburbs.
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Auction chart

All Supply / Demand cards and graphs on this page are published under a preliminary Beta release.
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Property Market in Pyrenees Shire, VIC

What other property markets are there near Pyrenees Shire, VIC?

Pyrenees Shire is surrounded by 5 other council areas – Corangamite, Ararat, Golden Plains, Northern Grampians, Hepburn.

Suburbs/localities in this Local Government Area: Glenbrae 3352, Glenlofty 3469, Glenlogie 3469, Glenpatrick 3469, Hillcrest 3351, Homebush 3465, Barkly 3384, Lake Goldsmith 3373, Lake Wongan 3373, Lamplough 3352, Landsborough 3384, Langi Kal Kal 3352, Lexton 3352, Lillicur 3371, Linton 3360, Main Lead 3373, Mena Park 3373, Middle Creek 3375, Moonambel 3478, Mount Emu 3351, Mount Lonarch 3468, Beaufort 3373, Navarre 3384, Nerring 3373, Nowhere Creek 3469, Percydale 3478, Raglan 3373, Rathscar 3465, Rathscar West 3465, Redbank 3477, Smythesdale 3351, Snake Valley 3351, Stockyard Hill 3373, Stoneleigh 3373, Streatham 3351, Tanwood 3478, Trawalla 3373, Bo Peep 3351, Wareek 3465, Warrenmang 3478, Waterloo 3373, Waubra 3352, Brewster 3352, Buangor 3375, Amphitheatre 3468, Bung Bong 3465, Burnbank 3371, Burrumbeet 3352, Carngham 3351, Carranballac 3361, Chepstowe 3351, Chute 3373, Cross Roads 3373, Crowlands 3377, Elmhurst 3469, Avoca 3467, Ercildoune 3352, Evansford 3371, Eversley 3377, Frenchmans 3384

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