ocean grove

3226, Victoria

Real Estate & Property Information

Median
Price Rank
317

ocean grove Suburb Profile & Review

The largest town on the Bellarine Peninsula, Ocean Grove is just east of the Barwon River and Barwon Heads, and west of Point Lonsdale. The patrolled main beach faces Bass Strait, but is enjoyed by families. It is also one of Victoria's most popular surf beaches. The population of Ocean Grove grows from roughly 10,000 people to almost four times its size in the summer months, when tourists head to the beach for a holiday.

Restaurants and cafes line The Terrace, with boutique shops slotted in between. The Ocean Grove Marketplace shopping centre is the largest on the peninsula, located to the north of town. It includes two supermarkets and a number of specialty stores and more than satisfies locals' needs. Dunes cafe and Bar is a popular local hangout, situated next to the Surf Life Saving Club just on the beach. It offers spectacular views looking out to the sea.

The Ocean Grove Nature Reserve is home to a great deal of native plants and wildlife, including wallabies, echidnas and koalas. The reserve and nearby areas offer many outdoor activities such as kayaking, bushwalking and fishing.

ocean grove Demographic Data

$ 427,000 Median House Price

84 Minutes Average Commute

40 Median Age

12,555 Population

52.07 % Female

47.93 % Male

3455 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 ocean grove, Victoria.

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ocean grove 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.

ocean grove Median House Prices

  • 2008 $ 356,300
  • 2009 $ 397,050
  • 2010 $ 390,000
  • 2011 $ 427,000
  • 2012 $ 427,000

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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ocean grove 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 ocean grove 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 ocean grove property price predictions.

ocean grove Market Property Types

  • 91 % Seperate House
  • 3 % Semi Detached
  • 6 % Flat or Unit
  • 0 % 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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ocean grove 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.

ocean grove Income & Mortgage Stats

  • $ 1,197 Median Weekly Household Income
  • $ 1,625 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 ocean grove

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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ocean grove 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.

ocean grove Sold Property Prices

ocean grove 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.

ocean grove Related Local Blog Posts

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Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

ocean grove Restaurants

  • The Mex4 Grubb Roadocean grove VIC 322603 5255 1959
  • The DunesSurf Beach Roadocean grove VIC 322603 5256 1944
  • Blue Ocean Cantonese Banquet Restaurant81 The Parade ocean grove VIC 322603 5255 2754

ocean grove Cafes

  • Boardriders Cafe and BarShop 1, 62 The Terrace ocean grove VIC 322603 5255 5583
  • Blue Fin Cafe63A The Terrace ocean grove VIC 322603 5256 2161
  • Gloria Jeans CoffeeShop 6, 71 The Parade ocean grove VIC 322603 5255 3491

ocean grove Schools

  • Our Lady Star of the Sea Primary SchoolJohn Dory Driveocean grove VIC 3226(03) 5255 4308Catholic Primary School
  • Ocean Grove Primary SchoolDraper Streetocean grove VIC 3226(03) 5255 1340State Primary School
  • Surfside Primary SchoolJohn Dory Driveocean grove VIC 3226(03) 5256 1411State Primary School

ocean grove Childcare

  • City Learning & Care1 John Dory Driveocean grove VIC 3226
  • Ocean Grove Neigbourhood ELC73-75 Tareeda Wayocean grove VIC 3226
  • Peppermint Grove73-75 Tareeda Wayocean grove VIC 3226

ocean grove Kindergarten and Preschools

  • Ocean Grove & District Preschool114 The Avenueocean grove VIC 3226
  • Surfside Kindergarten Inc1 John Dory Driveocean grove VIC 3226
  • Woodlands Preschool15 Wyatt Streetocean grove VIC 3226

ocean grove Sporting Centres and Clubs

  • Ocean Groveocean grove VIC 3226Golf Course
  • Surfsideocean grove VIC 3226Netball Club
  • Ocean Grove SLSCocean grove VIC 3226Surf Lifesaving Club

ocean grove Retirement Villages

  • Warrawee Villageocean grove VIC 3226

Find out How Much your House is Worth in ocean grove

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