Warrnambool

POSTAL CODE: VIC, 3280

HOUSE

UNIT

Property investments in WARRNAMBOOL did not fare well against the rest of the country last year, registering a median home price decrease of 6.4%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains WARRNAMBOOL, 3280 saw average growth in the long term.

Real estate investors could earn a rental income of $595 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 53.4 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $623,500.

WARRNAMBOOL ranks 47th on the list of best yielding suburbs for rental properties in VIC, posting a 4.96% return.

Based on its average 5-year and quarterly capital gains WARRNAMBOOL, 3280 saw average growth in the long term.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Profits due to an upward trend in home prices in WARRNAMBOOL, 3280 averaged 1.94% per annum over a 3-year period.

Average weekly rents on listings have reached the $450 mark, reflecting a 5.14% increase in returns based on the current median price in WARRNAMBOOL.

An average of 7.92 real estate transactions take place per month in WARRNAMBOOL which translates to 95 per annum.

95 properties were sold in WARRNAMBOOL during the past year, making it the 11th most active market in VIC based on total real estate transactions.

WARRNAMBOOL, 3280 places 127th in Australia based on median property value growth during the quarter.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$623,500	$455,000
Growth Report
Median Quarterly	2.47%	2.25%
Median 12 month	6.4%	6.18%
Median 3 years	3.93%	5.81%
Median 5 years	50.24%	44.22%
10 years average annual	6.92%	6.55%
Weekly media advert. rent	$595	$450
Time on Market	53.4 days	60.5 days
Gross Rental Yield Percent	4.96%	5.14%

Demographics (Median Values)*

Total Population 31569

Weekly Household Income 1162

Household Size 2.40

Average Age 40

Monthly Loan Repayment 1430

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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