Breakwater (postcode 3219) is a close-knit residential community in Victoria within the Greater Geelong local government area. It is home to about 1,060 residents, with an established demographic and a median age of 40. Households earn a median income of $56K per year, with an average household size of 2.1 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +2.2% 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 community & personal service, technicians & trades, labourers. Employment in the area leans toward healthcare and construction. The top ancestries reported are Australian, English, Irish.
Breakwater has a median house price of $515,000, which has dropped significantly by 10.4% year-on-year. The current median weekly rent is $500. This gives a gross rental yield of approximately 5.0%. The median monthly mortgage repayment is $1,213.
Public transport access includes 14 bus stops. The crime rate in the Greater Geelong LGA is higher than average at 8,641 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 5.0%, which reads as high yield. Property prices sit below the state median ($515K/$875K), which can point to relative value. The price-to-income ratio of 9.2x is considered moderate. House prices have moved -10.4% year-on-year. Population growth of +2.2% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.