As we wrote recently, we're going to be writing posts on specific suburbs we believe have solid future growth potential - we are going to be focusing on Victoria
We are going to start our first post by looking at the suburb of Warrnambool.
Warrnambool is a beautiful coastal city in Victoria situated near Great Ocean Road. It has a good breakdown of ages in the 20-39 and 40-49 bracket, indicating it contains people with growing families and kids. Population growth is anticipated in the area in coming years. While it's a couple of hours from Melbourne CBD, it has a good range of school, infrastructure and facilities nearby, along with decent transport link. It's a popular tourist town for visitors.
Here are a breakdown of key figures, which we've also attached below for your reference so you can visualise the trends.
Median Price / Capital Growth - $600,000, has seen 7.23% annual compound growth in the last 10 years
Rental Yield - 4.83%
Population - 31,314
Vacancy Rate - 0.82%
Vendor Discount Rate - 2.61%
Days on Market - 229 days
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