Colac Otway Shire, VIC

Colac Shire Otway is a local government area in Victoria’s Barwon South West district. The Colac Otway Shire property market is a mix of rural and coastal towns. There is a wide range of properties available, from affordable housing to luxury estates. The market is growing quickly, and there is a lot of investment interest in the area.

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The Colac Otway Shire economy is largely based on agriculture, tourism, and manufacturing. The shire has a diverse range of agricultural production, including beef, dairy, pork, lamb, poultry, eggs, vegetables, fruit, and wine. Tourism is also a major industry, with the region offering a wide range of natural and cultural attractions. Manufacturing is also a significant contributor to the shire economy, with a number of food processing, engineering, and other industrial businesses located in the area.

Labourers (18.3 %), Managers (17.0 %), Technicians and Trades Workers (13.7 %), Professionals (12.3 %), and Community and Personal Service Workers (11.8 %) are the most prevalent professions in Colac-Otway. In Colac-Otway, the typical weekly personal income for individuals aged 15 years and older is $574.

In Colac-Otway, 90.7 % of occupied private homes are detached houses, 7.1 % are semi-detached, row or terrace houses, townhouses, or other buildings, 0.6 % are flats or apartments, and 0.9 % are other dwellings.

If you’re looking to invest in the Colac Otway Shire property market, you’ll want to focus on areas that are seeing strong economic and employment growth. The coastal towns of Apollo Bay and Torquay are both popular tourist destinations and are seeing significant development, so they could be good options for investment. You’ll also want to keep an eye on the prices of properties in other suburbs in the LGA, as they’re likely to continue to rise in value.

Discover the latest real estate trends in Colac Otway 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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Demand chart
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unit to houses pie charts
Renters to owners pie chart
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IRSAD chart
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Index chart
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GRC chart

Confidence: High, Medium, Low

Supply

Stock on Market

Inventory

Hold Period

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SOM chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

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DOM chart
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Auction chart

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Property Market in Colac Otway Shire, VIC

What other property markets are there near Colac Otway Shire, VIC?

Colac Otway Shire is surrounded by 3 other council areas – Corangamite, Golden Plains, Surf Coast.

How many people live in Colac Otway Shire, VIC?

There are approximately 21000 people living in roughly 12000 dwellings in total, with an average household size of 2.3.

What are current and planned infrastructure projects in Colac Otway Shire, VIC?

Notable infrastructure projects include Colac West Development Plan, The Draft Colac West, Development Plan, Colac High School site, Apollo Bay Harbour, Completed Projects, Community Infrastructure Plan – Apollo Bay – Skenes Creek – Marengo.

What major retailers are there in Colac Otway Shire, VIC?

The main retail centres are Colac Plaza, Worldly Goods, Rivers Colac.

What is the main industry in Colac Otway Shire, VIC?

Such sectors as Manufacturing, Health Care & Social Assistance, Agriculture, Forestry & Fishing, Retail Trade make up the largest part of the employment.

What are the dominant demographic groups in Colac Otway Shire, VIC?

Among approximately 21000 people Colac Otway Shire in males and females make roughly 50% of each group. The median age of people is 46 years. Children aged 0-14 years account for approximately 18% of the population, and those aged 65+ years account for 22%.

How is unemployment rate trending in Colac Otway Shire, VIC?

Among approximately 10000 people employed, roughly 53% work full-time, 37% work part-time, and an estimated 4% are unemployed.

Suburbs/localities in this Local Government Area: Glenaire 3238, Balintore 3249, Aire Valley 3237, Grey River 3234, Hordern Vale 3238, Irrewarra 3249, Irrewillipe 3249, Irrewillipe East 3249, Johanna 3238, Kawarren 3249, Kennett River 3234, Larpent 3249, Lavers Hill 3238, Barongarook 3249, Barongarook West 3249, Barramunga 3249, Barunah Plains 3329, Marengo 3233, Barwon Downs 3243, Mount Sabine 3236, Beeac 3251, Murroon 3243, Beech Forest 3237, Nalangil 3249, Ombersley 3241, Ondit 3249, Pennyroyal 3235, Petticoat Creek 3233, Separation Creek 3234, Skenes Creek 3233, Skenes Creek North 3233, Sugarloaf 3234, Swan Marsh 3249, Tanybryn 3249, Birregurra 3242, Warncoort 3243, Warrion 3249, Weeaproinah 3237, Weering 3251, Whoorel 3243, Winchelsea 3241, Wongarra 3234, Wye River 3234, Wyelangta 3237, Yeo 3249, Yeodene 3249, Yuulong 3237, Bungador 3260, Cape Otway 3233, Apollo Bay 3233, Carlisle River 3239, Colac 3250, Colac East 3250, Colac West 3250, Coragulac 3249, Cororooke 3254, Corunnun 3249, Cundare 3251, Elliminyt 3250, Eurack 3251, Ferguson 3237, Forrest 3236, Gellibrand 3239, Gerangamete 3249

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