hamilton

3300, Victoria

Real Estate & Property Information

Median
Price Rank
601

hamilton Suburb Profile & Review

Situated in south-western Victoria, Hamilton serves as an intersection between Ballarat and Mount Gambier, as well as Portland and Horsham. Once thought of as the Wool Capital of the World, Hamilton keeps ties with its roots; a popular attraction in the town is the Big Wool Bales, containing a restaurant and museum. Hamilton and the surrounding area produce as much as fifteen per cent of Australia's wool output annually.

Hamilton Art Gallery is another great attraction in the town, housing a world-renowned collection including twenty-two paintings by Paul Sandby. Hamilton's Botanical Gardens, established back in 1870, are set on four acres of superb land. They feature a rotunda and a small zoo.

Shopping takes place around Gray Street, Brown Street and Thompson Street, which are lined with shops, restaurants and cafes. Hamilton is an education haven, with as many as nine schools serving the surrounding area. The reputable Hamilton and Alexandra College is a co-educational day and boarding school. The South West Institute of TAFE also has a campus in Hamilton offering vocational education and training courses.

hamilton Demographic Data

$ 220,000 Median House Price

208 Minutes Average Commute

43 Median Age

10,104 Population

51.94 % Female

48.06 % Male

2632 NO OF FAMILIES

1.9 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in hamilton, Victoria.

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hamilton Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

hamilton Median House Prices

  • 2008 $ 195,500
  • 2009 $ 206,500
  • 2010 $ 185,000
  • 2011 $ 209,000
  • 2012 $ 220,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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hamilton 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in hamilton have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term hamilton property price predictions.

hamilton Market Property Types

  • 90 % Seperate House
  • 2 % Semi Detached
  • 7 % Flat or Unit
  • 1 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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hamilton Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

hamilton Income & Mortgage Stats

  • $ 904 Median Weekly Household Income
  • $ 1,124 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in hamilton

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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hamilton Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

hamilton Sold Property Prices

hamilton Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

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hamilton Cafes

  • Gallery Corner 175 Gray Street hamilton VIC 330003 5571 1812
  • The Big Wool Bales230 Coleraine Roadhamilton VIC 330003 5571 2810
  • Kings Bakery Cafe 123 Brown Streethamilton VIC 330003 5572 1136

Find out How Much your House is Worth in hamilton

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