Ararat is a mid-sized suburb in Victoria within the Ararat local government area (postcode 3377). With a population of 8,500, the suburb has a mature demographic with a median age of 45. Households earn a median income of $63K per year, with an average household size of 2.2 people. The most common occupations are community & personal service, labourers, professionals. The top ancestries reported are Australian, English, Scottish.
The median house price in Ararat is $380,000, having risen modestly 1.3% over the past year. Units have a median price of $303,000 (-4% YoY). The current median weekly rent is $365. This gives a gross rental yield of approximately 5.0%. The median monthly mortgage repayment is $1,083.
Ararat is served by 6 schools, including 4 primary, 2 secondary. The average ICSEA score is 969, which is around the national average of 1,000. Public transport access includes 4 rail stations, 63 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Ararat LGA is higher than average at 13,391 incidents per 100,000 population.
From an investment perspective, Ararat offers a gross rental yield of 5.0%, rated as moderate yield. Property prices sit below the state median ($380K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 6.0x is considered moderate. House prices have moved +1.3% year-on-year.
Ararat is a mid-sized suburb in Victoria within the Ararat local government area (postcode 3377). With a population of 8,500, the suburb has a mature demographic with a median age of 45. Households earn a median income of $63K per year, with an average household size of 2.2 people. The most common occupations are community & personal service, labourers, professionals. The top ancestries reported are Australian, English, Scottish.
The median house price in Ararat is $380,000, having risen modestly 1.3% over the past year. Units have a median price of $303,000 (-4% YoY). The current median weekly rent is $365. This gives a gross rental yield of approximately 5.0%. The median monthly mortgage repayment is $1,083.
Ararat is served by 6 schools, including 4 primary, 2 secondary. The average ICSEA score is 969, which is around the national average of 1,000. Public transport access includes 4 rail stations, 63 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Ararat LGA is higher than average at 13,391 incidents per 100,000 population.
From an investment perspective, Ararat offers a gross rental yield of 5.0%, rated as moderate yield. Property prices sit below the state median ($380K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 6.0x is considered moderate. House prices have moved +1.3% year-on-year.