Morwell is a well-established suburb in Victoria within the Latrobe (Vic.) local government area (postcode 3840). With a population of 14,389, the suburb has an established demographic with a median age of 43. Households earn a median income of $49K per year, with an average household size of 2.2 people. The most common occupations are labourers, technicians & trades, community & personal service. The top ancestries reported are English, Australian, Scottish.
The median house price in Morwell is $335,000, having risen modestly 0.4% over the past year. Units have a median price of $255,000 (+2% YoY). The current median weekly rent is $340. This gives a gross rental yield of approximately 5.3%. The median monthly mortgage repayment is $953.
Morwell is served by 5 schools, including 4 primary, 1 secondary. The average ICSEA score is 935, which is below the national average of 1,000. Public transport access includes 3 rail stations, 4 tram stops, 106 bus stops. Healthcare facilities include 1 private hospital. The crime rate in the Latrobe (Vic.) LGA is higher than average at 17,840 incidents per 100,000 population.
From an investment perspective, Morwell offers a gross rental yield of 5.3%, rated as high yield. Property prices sit below the state median ($335K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 6.8x is considered moderate. House prices have moved +0.4% year-on-year.
Morwell is a well-established suburb in Victoria within the Latrobe (Vic.) local government area (postcode 3840). With a population of 14,389, the suburb has an established demographic with a median age of 43. Households earn a median income of $49K per year, with an average household size of 2.2 people. The most common occupations are labourers, technicians & trades, community & personal service. The top ancestries reported are English, Australian, Scottish.
The median house price in Morwell is $335,000, having risen modestly 0.4% over the past year. Units have a median price of $255,000 (+2% YoY). The current median weekly rent is $340. This gives a gross rental yield of approximately 5.3%. The median monthly mortgage repayment is $953.
Morwell is served by 5 schools, including 4 primary, 1 secondary. The average ICSEA score is 935, which is below the national average of 1,000. Public transport access includes 3 rail stations, 4 tram stops, 106 bus stops. Healthcare facilities include 1 private hospital. The crime rate in the Latrobe (Vic.) LGA is higher than average at 17,840 incidents per 100,000 population.
From an investment perspective, Morwell offers a gross rental yield of 5.3%, rated as high yield. Property prices sit below the state median ($335K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 6.8x is considered moderate. House prices have moved +0.4% year-on-year.