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West Wimmera Shire, VIC

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The Shire of West Wimmera is a local government area situated in Western Victoria. The LGA’s property market is quite affordable, with the typical house price under $200K. The market is dominated by agricultural properties, with few residential properties available.

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The economy of West Wimmera, Victoria is based on agriculture, with pastoral farming and dairying the main industries. There is also some light industry, and tourism is becoming increasingly important.

Managers account for 38.3 % of employment in West Wimmera, followed by labourers (14.9 %), professionals (12.1 %), technicians and trades workers (8.5 %), and community and personal service workers (8.2 %). In West Wimmera, the typical weekly personal income for individuals aged 15 years and older is $555.

There are many properties available in West Wimmera that are perfect for those who are looking for a large piece of land to call their own. The prices of properties in this area tend to be more affordable than in other parts of Victoria, making it a great option for those who are looking for an investment property.

The LGA is also great for those who are looking for a place to retire, as there are many quiet and picturesque towns in West Wimmera that offer a relaxed lifestyle.

In West Wimmera, 96.5 % of inhabited private homes are single detached houses, 1.5 % are semi-detached, row or terrace houses, townhouses, etc., 0.9 % are flats or apartments, and 0.8 % are other dwellings.

Discover the latest real estate trends in West Wimmera with the help of interactive dashboard below.

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Suburb Heatmap Analysis

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.

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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.

Have a question? You can either leave a comment below or post it on our forum.

Property Market in West Wimmera Shire, VIC

What other property markets are there near West Wimmera Shire, VIC?

West Wimmera Shire is surrounded by 4 other council areas – Southern Grampians, Horsham, Glenelg, Mildura.

How many people live in West Wimmera Shire, VIC?

There are approximately 4000 people living in roughly 2200 dwellings in total, with an average household size of 2.2.

What are current and planned infrastructure projects in West Wimmera Shire, VIC?

Notable infrastructure projects include Kaniva Caravan Park Upgrade, Edenhope and Kaniva Streetscape Planning 2021, Goroke Recreation Reserve Pavilion and Change Rooms Project, Edenhope Equine Facility redevelopment, Apsley Netball/Tennis Courts & Lighting Upgrade.

What is the main industry in West Wimmera Shire, VIC?

Such sectors as agriculture, healthcare, education, administration, construction and retail make up the largest part of the employment.

What are the dominant demographic groups in West Wimmera Shire, VIC?

Among approximately 4000 people in West Wimmera Shire males and females make roughly 50%. The median age of people is 48 years. Children aged 0-14 years account for approximately 17% of the population, and those aged 65+ years account for 24%.

How is unemployment rate trending in West Wimmera Shire, VIC?

Among approximately 2000 people employed, roughly 59% work full-time, 31% work part-time, and an estimated 4% are unemployed.

Suburbs/localities in this Local Government Area: Goroke 3412, Gymbowen 3401, Kadnook 3318, Kaniva 3419, Karnak 3401, Langkoop 3318, Lawloit 3418, Lillimur 3420, Miga Lake 3409, Minimay 3413, Miram 3415, Mitre 3409, Neuarpurr 3413, Nurcoung 3401, Ozenkadnook 3413, Patyah 3318, Peronne 3413, Benayeo 3319, Poolaijelo 3312, Powers Creek 3312, Serviceton 3420, Telopea Downs 3420, Ullswater 3318, Wombelano 3409, Bringalbert 3319, Apsley 3319, Charam 3318, Connewirricoo 3318, Dorodong 3312, Douglas 3409, Edenhope 3318

1 thought on “West Wimmera Shire, VIC”

  1. Suburb assessment for Kaniva, VIC 3419. Verdict: unfavourable market due to flood zone and low demand rental market.

    Overall, Kaniva is a good fit for a positively geared property due to low typical price and high gross yield of 7.69%. However, there are some unfavourable signals in the rental market.

    Namely there are very few vacancies with a low vacancy rate of 0.78 in Kaniva, which would typically indicate a healthy demand in the rental market. However this is calculated based only on a handful of listings, which are averaging 1 rental per quarter. This diminishes the importance of the low Vacancy Rate criterion. In addition the Rent SI of 3 confirms modest demand for rental properties in this market. It may be difficult finding a tenant in this environment.

    High DoM and Discounting values highlight that this is a buyers market at present time. Due to low market activity this trend may continue well into the future, so disposal of the property may take time.

    Annual Capital Growth is likely to fluctuate between -2% to 5% favouring the mid ranges of this estimate. It is possible that the growth rate cycle in Kaniva will reach another peak in the years 2025-2030, however the prices are likely to remain at their current levels next year.

    If you were to find a quality long-term tenant to maximise the return from high rental yield, it’s possible to achieve an annual ROI in the 5-11% mark. You can then look at your next steps 5 or so years from now, re-evaluating accumulated capital growth at that point. However if a flood occurs, capital gains will suffer.

    Lastly, most in demand property types are 2 and 3 bedroom houses, so if you decide to look for a property in this market, we suggest targeting these in parts of Kaniva less prone to potential flooding.

    Due to limited historical data it’s problematic to discern whether central part or outskirts provide better investment opportunities. Switch to scatter view on the map to understand historical price points and properties sold in Kaniva . You’ll need to pan and zoom to this location.

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