Located in Victoria within the Yarriambiack local government area, Hopetoun is a close-knit residential community (postcode 3396). It is home to about 694 residents, with a more retirement-aged population and a median age of 56. Households earn a median income of $58K per year, with an average household size of 2.1 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at -0.3% 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 Australian, English, Irish.
Median house prices in Hopetoun stand at $212,000, having climbed sharply by 23.7% over the last twelve months. The current median weekly rent is $310. This gives a gross rental yield of approximately 7.6%. The median monthly mortgage repayment is $650.
Hopetoun is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 971, which is around the national average of 1,000. Public transport access includes 4 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Yarriambiack LGA is higher than average at 8,069 incidents per 100,000 population.
On the investment side, Hopetoun shows a gross rental yield of approximately 7.6%, rated as high yield. Property prices sit below the state median ($212K/$875K), which can point to relative value. The price-to-income ratio of 3.6x is considered affordable. House prices have moved +23.7% year-on-year. Population growth of -0.3% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.