Coleraine is a small locality in Victoria within the Southern Grampians local government area (postcode 3315). The area has roughly 1,062 residents and a more retirement-aged population, with a median age of 56. Households earn a median income of $44K per year, with an average household size of 1.9 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.2% 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 managers, labourers, professionals. Employment in the area leans toward agriculture and healthcare. The top ancestries reported are English, Australian, Scottish.
The median house price in Coleraine is $265,000, having climbed sharply by 29.3% over the past year. The current median weekly rent is $380. This gives a gross rental yield of approximately 7.5%. The median monthly mortgage repayment is $650.
Coleraine is served by 2 schools, including 2 primary. The average ICSEA score is 989, which is around the national average of 1,000. Public transport access includes 1 bus stop. Healthcare facilities include 1 public hospital. The crime rate in the Southern Grampians LGA is moderate at 7,662 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 7.5% (high yield). Property prices sit below the state median ($265K/$875K), which can point to relative value. The price-to-income ratio of 6.0x is considered affordable. House prices have moved +29.3% year-on-year. Population growth of +0.2% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.