Ocean Grove is a well-established suburb in Victoria within the Greater Geelong local government area (postcode 3226). With a population of 17,714, the suburb has an established demographic with a median age of 43. Households earn a median income of $96K per year, with an average household size of 2.5 people. The most common occupations are professionals, technicians & trades, managers. The top ancestries reported are English, Australian, Irish.
The median house price in Ocean Grove is $970,000, having dipped slightly 1.9% over the past year. Units have a median price of $725,000 (-18.1% YoY). The current median weekly rent is $460. This gives a gross rental yield of approximately 2.5%. The median monthly mortgage repayment is $2,000.
Ocean Grove is served by 3 schools, including 3 primary. The average ICSEA score is 1091, which is above the national average of 1,000. Public transport access includes 56 bus stops. The crime rate in the Greater Geelong LGA is higher than average at 8,641 incidents per 100,000 population.
From an investment perspective, Ocean Grove offers a gross rental yield of 2.5%, rated as low yield. Property prices are near the state median ($970K/$875K). The price-to-income ratio of 10.2x is considered stretched. House prices have moved -1.9% year-on-year.
Ocean Grove is a well-established suburb in Victoria within the Greater Geelong local government area (postcode 3226). With a population of 17,714, the suburb has an established demographic with a median age of 43. Households earn a median income of $96K per year, with an average household size of 2.5 people. The most common occupations are professionals, technicians & trades, managers. The top ancestries reported are English, Australian, Irish.
The median house price in Ocean Grove is $970,000, having dipped slightly 1.9% over the past year. Units have a median price of $725,000 (-18.1% YoY). The current median weekly rent is $460. This gives a gross rental yield of approximately 2.5%. The median monthly mortgage repayment is $2,000.
Ocean Grove is served by 3 schools, including 3 primary. The average ICSEA score is 1091, which is above the national average of 1,000. Public transport access includes 56 bus stops. The crime rate in the Greater Geelong LGA is higher than average at 8,641 incidents per 100,000 population.
From an investment perspective, Ocean Grove offers a gross rental yield of 2.5%, rated as low yield. Property prices are near the state median ($970K/$875K). The price-to-income ratio of 10.2x is considered stretched. House prices have moved -1.9% year-on-year.