Located in Victoria within the Pyrenees local government area, Avoca is a close-knit residential community (postcode 3467). With a population of 1,356, the suburb has an older-leaning population with a median age of 51. Households earn a median income of $48K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.4% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are managers, labourers, community & personal service. Employment in the area leans toward agriculture and manufacturing. The top ancestries reported are Australian, English, Scottish.
The median house price in Avoca is $390,000, having jumped by 11.4% over the past year. The current median weekly rent is $400. This gives a gross rental yield of approximately 5.3%. The median monthly mortgage repayment is $1,056.
Avoca is served by 1 school, including 1 primary. The average ICSEA score is 965, which is around the national average of 1,000. Public transport access includes 3 bus stops. The crime rate in the Pyrenees LGA is moderate at 6,576 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 5.3%, which reads as high yield. Property prices sit below the state median ($390K/$875K), which can point to relative value. The price-to-income ratio of 8.1x is considered moderate. House prices have moved +11.4% year-on-year. Population growth of +0.4% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.