Colac is a moderately sized suburb in Victoria within the Colac Otway local government area (postcode 3250). With a population of 9,243, the suburb has a settled mid-life population with a median age of 44. Households earn a median income of $58K 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 +0.0% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official ABS Labour Force trend series, which provides the broader jobs backdrop for this suburb. VIC also had 41 Commonwealth-backed major projects under construction, 18 underway, and 24 in planning as at 2025-09-01, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are labourers, technicians & trades, community & personal service. Employment in the area leans toward manufacturing and healthcare. The top ancestries reported are Australian, English, Irish.
The median house price in Colac is $484,000, having risen by 4.5% over the past year. Units have a median price of $495,000 (+12.5% YoY). The current median weekly rent is $450. This gives a gross rental yield of approximately 4.8%. The median monthly mortgage repayment is $1,213.
Colac is served by 7 schools, including 4 primary, 2 secondary, 1 special. The average ICSEA score is 960, which is around the national average of 1,000. Public transport access includes 3 rail stations, 54 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Colac Otway LGA is higher than average at 8,804 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 4.8% (moderate yield). Property prices sit below the state median ($484K/$850K), which can point to relative value. The price-to-income ratio of 8.4x is considered moderate. House prices have moved +4.5% year-on-year. Population growth of +0.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.