Kerang (postcode 3579) is a smaller residential area in Victoria within the Gannawarra local government area. The area has roughly 3,960 residents and a settled, mature resident base, with a median age of 51. Households earn a median income of $52K 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 professionals, technicians & trades, managers. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are English, Australian, Scottish.
Kerang has a median house price of $310,000, which has grown strongly by 9.7% year-on-year. Units have a median price of $255,000 (+35.6% YoY). The current median weekly rent is $323. This gives a gross rental yield of approximately 5.4%. The median monthly mortgage repayment is $1,000.
Kerang is served by 5 schools, including 3 primary, 1 secondary, 1 combined. The average ICSEA score is 957, which is around the national average of 1,000. Public transport access includes 3 rail stations. Healthcare facilities include 1 public hospital. The crime rate in the Gannawarra LGA is higher than average at 8,294 incidents per 100,000 population.
On the investment side, Kerang shows a gross rental yield of approximately 5.4%, rated as high yield. Property prices sit below the state median ($310K/$875K), which can point to relative value. The price-to-income ratio of 5.9x is considered affordable. House prices have moved +9.7% 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.