Mount Clear (postcode 3350) is a smaller residential area in Victoria within the Ballarat local government area. The area has roughly 3,671 residents and a mix of families and early-career residents, with a median age of 37. Households earn a median income of $76K per year, with an average household size of 2.5 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.7% 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, community & personal service, clerical & administrative. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Irish.
Median house prices in Mount Clear stand at $505,000, having moved lower by 3.3% over the last twelve months. Units have a median price of $408,000 (+8.1% YoY). The current median weekly rent is $420. This gives a gross rental yield of approximately 4.3%. The median monthly mortgage repayment is $1,498.
Mount Clear is served by 4 schools, including 2 primary, 2 secondary. The average ICSEA score is 1032, which is around the national average of 1,000. Public transport access includes 14 bus stops. The crime rate in the Ballarat LGA is higher than average at 11,695 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 4.3%, which reads as moderate yield. Property prices sit below the state median ($505K/$875K), which can point to relative value. The price-to-income ratio of 6.6x is considered moderate. House prices have moved -3.3% year-on-year. Population growth of +1.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.