West Wimmera Shire, VIC

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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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.
Upgrade to Starter Plan to see Demand Profile data.
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.
Upgrade to Professional Plan to see Vacancy Rate trend.
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.
You’re welcome to leave your feedback 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.

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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