Goughs Bay is a sparsely populated locality in Victoria within the Mansfield local government area (postcode 3723). With a population of 328, the suburb has an older demographic with a median age of 57. Households earn a median income of $46K per year, with an average household size of 1.9 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.9% 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, clerical & administrative. Employment in the area leans toward retail trade and accommodation & food. The top ancestries reported are English, Australian, Scottish.
The median house price in Goughs Bay is $580,000, having jumped by 16.1% over the past year. The current median weekly rent is $550. This gives a gross rental yield of approximately 4.9%. The median monthly mortgage repayment is $1,300.
The crime rate in the Mansfield LGA is below average at 3,664 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 4.9% (moderate yield). Property prices sit below the state median ($580K/$875K), which can point to relative value. The price-to-income ratio of 12.5x is considered stretched. House prices have moved +16.1% year-on-year. Population growth of +1.9% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.