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Great Western, VIC 3374

Home » VIC Real Estate Data » Ararat Rural City, VIC » Great Western, VIC 3374

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 Great Western, VIC 3374 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 “Great Western, VIC 3374”

  1. The total adult population (15 years or older) of Great Western 3374 VIC is 372, with a median age of 52. Of those, 53.49% are married, 18.01% are divorced or separated, 21.77% are single and 5.11% are widowed.

    The average household size is 2.2 people per dwelling, and the median household monthly income is estimated to be $7,436. The median monthly mortgage repayment for households in this suburb is $1,231 which is 16.55% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated within Victoria, the suburb of Great Western 3374 nurtures an estimated 265 households. As we delve into the Q3 of 2023, the typical price for houses in Great Western 3374 stands at $524,928, with a median weekly rent of $306. This concocts an indicative yield of 3.03%, successfully meeting the minimum market requirement for income-focused property investors.

    If we shed light on the socio-economic situation within the suburb, Great Western 3374 boasts an IRSAD score of 979 out of 1217, signifying thriving economic resources and income levels within the area. The renter to owner ratio is low at 9%, placing the suburb in the favourable category and underlining its appeal for long-term returns. Interestingly, the units to houses ratio within the suburb stands at 0%, suggesting less competition among landlords and potential for higher rental yields.

    Delving into the affordability landscape, the index currently sits at 28 years, indicative of favourable market conditions and high affordability for home seekers. Navigating towards the realm of supply, houses exhibit a stock on market Percentage of 0.38%, nestling within the favourable range and reflecting low supply. Correspondingly, the inventory level for houses clocks in at 4.0 months, teetering at the higher end of the spectrum, albeit not unfavourable.

    Building Approvals Ratio is stagnant at 0.0%, signifying a low potential for an influx of new housing stock in Great Western 3374. For the demand side, houses here spend an average of 38 days on the market, indicating neutral demand from property seekers. The suburb experiences a vacancy rate of 4.0%, suggesting slightly lower demand in the rental market. However, the suburb maintains an average buy search index of 5 for houses, suggesting a balanced level of interest among the property buyers in comparison to the state average.

    Despite a few metrics slightly leaning towards the unfavourable side, the overall property investment climate in Great Western 3374 appears largely promising. Remember, it’s crucial to view these figures as parts of a dynamic and interconnected whole, and minor fluctuations in one or two metrics wouldn’t necessarily destabilise a fundamentally robust market. For a comprehensive understanding, consider exploring the HtAG Analytics’ Relative Composite Score (RCS), a tool that integrates over 80 variables to offer a holistic market image.

    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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