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Great Western, VIC 3377
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$450,000
Median Unit
$320,000
Gross Yield (houses)
4.4%
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
In Great Western, VIC 3377, the median house sells for around $450K, on a gross rental yield of 4.4% for houses. At 1.7% vacancy, it is a tight rental market that favours landlords.
For an investor, the rent-to-price profile sits mid-range: a gross house yield near 4.4% is neither a standout cashflow play nor a pure growth bet.
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. At a median age of 52, it reads as 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.
The typical household income runs to around $77,000 a year (about $1,470 a week). On socio-economic measures it ranks toward the more disadvantaged end of the ABS advantage index (2 out of 10). At current prices a median house runs to roughly 5.9 times local household income, leaving more headroom than most capital-city markets. Incomes have risen about 19% 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
- -2% over 5yr
- Median age
- 52 years
- Median household income
- $77,000/yr
- Households renting
- 9%
- Family households
- 66%
- Socio-economic rank
- 2/10
- ABS advantage index
- Schools within 5km
- 1
- avg ICSEA 964
- Unemployment
- 2.5%
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. Strong unit gross rental yield of 7.1%, before expenses, tax and loan costs. Tight rental market (1.7% vacancy) gives landlords pricing power and low rental downtime. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Great Western?
The median property price in Great Western, VIC 3377 is $450K for houses and $320K for units.
What rental yield does Great Western show?
The gross rental yield in Great Western is 4.4% for houses and 7.1% for units. 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 1.7%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
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 5.9 times the median local household income (more affordable than most capital-city markets). 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 fallen about 2% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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