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Great Western, VIC 3374
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$645,000
market range $575K-$950K
Median Unit
$215,000
Gross Yield (houses)
3.0%
1yr Growth
-
Investment snapshot for Great Western
Great Western has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Great Western market and investor summary
Great Western (VIC 3374) runs a median house price of $645K, with houses yielding a gross 3.0%. At 4.0% vacancy, it is a softer rental market with more choice for tenants.
For an investor, this reads as a capital-growth market more than a cashflow one. A gross house yield around 3.0% will not cover holding costs in the early years, so the case leans on price appreciation. Demand is softer at 4.0% vacancy, so longer gaps between tenants are more likely and worth building into the numbers. Houses also take time to sell, around 289 days on market, so plan for a slower exit if you ever need one.
Living in Great Western: people, income and schools
Great Western has a resident population of roughly 425, a number that has held fairly steady over five years. The median age is 52, an older, established demographic, and 81% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
Households here earn a median of about $77,000 a year, or roughly $1,470 a week. On socio-economic measures it ranks around the national middle on the ABS advantage index (6 out of 10). At current prices a median house runs to about 8.4 times local household income, in line with much of metropolitan Australia. Incomes have risen about 14% over five years, which tends to underpin what local buyers can pay.
There is 1 school within about 5km, testing close to the national school average on ICSEA. Fixed broadband is delivered over the NBN's Fixed Wireless.
- Population
- 425
- +1% over 5yr
- Median age
- 52 years
- Median household income
- $77,000/yr
- Households renting
- 9%
- Family households
- 66%
- Socio-economic rank
- 6/10
- ABS advantage index
- Schools within 5km
- 1
- avg ICSEA 964
- Unemployment
- 3.3%
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Great Western
No properties currently listed in Great Western
Search Great Western listings →Frequently asked questions about Great Western
What should I check before investing in Great Western?
Great Western has enough public data for first-pass screening across yield, vacancy, price and supply signals. Use the available metrics below to compare it with nearby suburbs before relying on the suburb-level view.
What are typical property prices in Great Western?
The median property price in Great Western, VIC 3374 is $645K for houses and $215K for units.
What rental yield does Great Western show?
The gross rental yield in Great Western is 3.0% for houses. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
How tight is the rental market in Great Western?
The current vacancy rate in Great Western is 4.0%. A rate under 2% generally signals a tight rental market. This suburb's rental market is softer, with tenants having more choice and rents possibly under pressure.
How many people live in Great Western?
Great Western has a population of approximately 425 residents, with a median age of 52.
What schools are near Great Western?
There are 1 school within roughly 5km of Great Western. Their average ICSEA is close to the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Great Western affordable to buy in?
A median house in Great Western costs about 8.4 times the median local household income (broadly in line with metropolitan Australia). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Great Western's population growing?
The population of Great Western has held roughly flat over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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