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Ocean Grove
AREA REPORTS

Ocean Grove

Ocean Grove - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3226

house
unit

Property investors have seen a 5.84% gain in OCEAN GROVE based on an increase in median home prices for the past three months.

Homeowners and real estate investors betting on OCEAN GROVE, 3226 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 16.26%.

Based on its average 5-year and quarterly capital gains OCEAN GROVE, 3226 saw average growth in the long term.

The VIC suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $815,000

Profits averaged 8.79% per annum over a 3-year period, due to an upward trend in home prices in OCEAN GROVE, 3226.

This means, real estate investors could earn a rental income of $450 based on current median home prices for the suburb.

The gross rental yield in OCEAN GROVE, 3226 is 2.87%.

An average of 34 real estate transactions take place per month in OCEAN GROVE which translates to 408 per annum.

Data report can be found below

Ocean Grove
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $815,000 $675,000
GROWTH REPORT
Median Quarterly 5.84% 3.45%
Median 12 month 16.26% 8.48%
Median 3 years 26.36% 34.46%
Median 5 years 59.18% 60.71%
10 years average annual 6.59% 5.74%
Weekly media advert. rent $450 $400
Time on Market 90.4 days 103.9 days
Gross Rental Yield Percent 2.87% 3.08%
demographics (median values)*
Total Population
14165
Weekly Household Income
1432
Household Size
2.50
Age
42
Monthly Loan Repayment
1733
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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