Sunset Strip is a small locality in Victoria within the Bass Coast local government area (postcode 3922). It is home to about 503 residents, with an established family demographic and a median age of 38. Households earn a median income of $52K per year, with an average household size of 2.4 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +2.1% 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 technicians & trades, community & personal service, professionals. Employment in the area leans toward construction and healthcare. The top ancestries reported are English, Australian, Irish.
Sunset Strip has a median house price of $640,000, which has dropped significantly by 8.6% year-on-year. The current median weekly rent is $480. This gives a gross rental yield of approximately 3.9%. The median monthly mortgage repayment is $1,448.
The crime rate in the Bass Coast LGA is higher than average at 8,622 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 3.9% (moderate yield). Property prices are near the state median ($640K/$875K). The price-to-income ratio of 12.2x is considered stretched. House prices have moved -8.6% year-on-year. Population growth of +2.1% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.