Colac Otway
VIC, 3237
Thinking about buying in Colac Otway? Now could not be a better time, with just 88 residential dwellings it's a highly sought after location. The average property price in this area is in the region of $768,000 with prices in this suburb ranging from $364,000 to $2,080,000. Colac Otway is located very near to the coast so expect stunning views of the ocean and access to beaches. Demand is likely to be very strong in this location which will support higher prices
Household Makeup
| Median Weekly Rent | $216.00 |
| Median Monthly Mortgage | $1600.00 |
| Median Persons Per Bedroom | 0.70 |
| Average Household Size | 3.00 |
| Average Age | 47.00 |
| Average Income | $683.00 |
| Average Cars Per Dwelling | 2.50 |
| Average Properties Within 50M | 1 |
Housing Stock
Average Property Prices
| 1 Bed $711,000 |
| 2 Bed $905,000 |
| 3 Bed $1,324,000 |
| 4 Bed $1,097,000 |
| 6 Bed+$679,000 |
Colac Otway Real Estate Market Outlook
Consistent high demand relative to supply is a key feature in Colac Otway driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Colac Otway due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. The slightly lower than average earnings from occupations in Colac Otway changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. 'Lower than average population density constrains growth in Colac Otway to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. With very low industrial sector presence in Colac Otway the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.
Local Schools
(While the above schools are located with the suburb of Colac Otway there may also be nearby schools whose catchments cover this suburb)Local Crime Rate
Incidents Trend State Average
Colac Otway weather - Average Local Climate by month
| (mm) RAIN | Min (°C) TEMP | Max (°C) TEMP | Min (%) HUMIDITY | Max (%) HUMIDITY | (m/sec) WIND | (MJ/sq m) SOLAR | |
|---|---|---|---|---|---|---|---|
| Jan | 1.5 | 14.7 | 22.0 | 55.0 | 88.2 | 5.8 | 22.8 |
| Feb | 1.5 | 15.0 | 21.0 | 60.5 | 88.6 | 5.7 | 19.0 |
| Mar | 1.5 | 14.1 | 19.8 | 59.6 | 88.9 | 5.7 | 15.0 |
| Apr | 2.1 | 12.5 | 18.0 | 58.0 | 88.6 | 5.8 | 11.1 |
| May | 3.3 | 10.8 | 15.7 | 58.7 | 87.6 | 6.5 | 7.7 |
| Jun | 3.0 | 9.0 | 13.7 | 63.8 | 88.3 | 5.8 | 6.7 |
| Jul | 3.6 | 8.3 | 13.2 | 61.2 | 87.4 | 7.1 | 7.0 |
| Aug | 3.8 | 8.4 | 13.7 | 57.9 | 87.8 | 7 | 9.8 |
| Sept | 2.9 | 9.4 | 15.5 | 54.4 | 87.2 | 6.8 | 13.9 |
| Oct | 2.2 | 10.4 | 17.2 | 54.4 | 88.3 | 6.6 | 19.4 |
| Nov | 1.5 | 11.6 | 18.6 | 55.6 | 87.4 | 6.6 | 20.2 |
| Dec | 1.1 | 13.3 | 20.6 | 57.3 | 88.7 | 6.1 | 24.1 |
source: Australian Government Bureau of Meteorology
Internet Speed
Nearby Suburbs
General Points of Interest
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