Ocean Grove, VIC 3226: Suburb Profile & Property Report

Market Report

House report
Unit Report

Ocean Grove has 523 houses available for sale. The median property price for a house is currently $970,000 with annual capital growth of -6.73% . There were 294 house sales in the past 12 months. On average, houses spend 84 days on market.

If you're thinking about buying an investment property in Ocean Grove, consider that rental yields for houses are currently 3.01% with an average median rent of $575 weekly. Houses have seen -0.05% growth in the past quarter, and -6.73% growth in the past 12 months.

The size of Ocean Grove is approximately 18.5 square kilometres. It has 22 parks covering nearly 16.5% of total area. The population of Ocean Grove in 2011 was 12,555 people. By 2016 the population was 14,161 showing a population growth of 12.8% in the area during that time. The predominant age group in Ocean Grove is 0-9 years.

Households in Ocean Grove are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Ocean Grove work in a professional occupation. In 2011, 75.8% of the homes in Ocean Grove were owner-occupied compared with 76.1% in 2016.

Ocean Grove has 119 units available for sale. The median property price for a unit is currently $790,000 with annual capital growth of -10.23% . There were 39 unit sales in the past 12 months. On average, units spend 95 days on market.

If you're thinking about buying an investment property in Ocean Grove, consider that rental yields for units are currently 3.27% with an average median rent of $520 weekly. Units have seen -10.73% growth in the past quarter, and -10.23% growth in the past 12 months.

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Key Market Data	House	Unit
Median price	$970,000	$790,000
Quarterly growth	-0.05%	-10.73%
12-month growth	-6.73%	-10.23%
Average annual growth	+7.84%	+3.04%
Weekly median rent	$575	$520
Gross rental yield	3.01%	3.27%
Number of Sales (12m)	294	39
Avg. Days on Market (12m)	84	95

Jump to Market Trends

Key Demographics	2011	2016
Total population	12,555	14,161
Population change (5y)	+11.36%	+12.80%
Median household income (p/w)	$1,208	$1,440
Household income change (5y)	+20.08%	+19.21%
Median age of persons	41	43

Jump to Demographics Trends

Market Trends

Houses

Units

The Median Sale Price in Ocean Grove is $970,000 for houses and $790,000 for units.

The Median Growth in Ocean Grove over the past 12 months is -6.73% for houses and -10.23% for units.

Over the past 12 months there were 294 houses sold and 39 units sold in Ocean Grove. On average, houses spent 84 days on market and units spent 95 days on market.

In the past 12 months up to July 2024 there were 294 houses sold and 39 units sold in Ocean Grove. On average, houses spent 84 days on market and units spent 95 days on market.

1 Year 5 Years 10 Years

Houses

Units

The Median Rent in Ocean Grove is $575 for houses and $520 for units.

The Rental Yield in Ocean Grove is 3.01% for houses and 3.27% for units.

1 Year 5 Years 10 Years

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Demographic Trends

Better understand demographic trends by reviewing the latest suburb demographic data below.

Age groups Country of Birth Religious Affiliation Household Income Occupations Education Level Qualification Level

The population of Ocean Grove was 14,161 in 2016, a +12.80% change compared to 2011.

The predominant age group in Ocean Grove is 0-9 years.

The population of Ocean Grove was 14,161 in 2016, a +12.80% change compared to 2011.

The predominant age group in Ocean Grove is 50-59 years.

Most of the population in Ocean Grove were born in Australia.

Most of the population in Ocean Grove report their religion as No Religion.

Most of the population in Ocean Grove report their income range as between $78,000 and $130,000 .

The median household income in Ocean Grove was $1,440 in 2016, a +19.21% change compared to 2011.

Most of the population in Ocean Grove report their income range as between $78,000 and $130,000 .

The median household income in Ocean Grove was $1,208 in 2011, a +20.08% change compared to 2006.

Most of the population in Ocean Grove work as Professional.

The chart below demonstrates the various levels of education in Ocean Grove.

Most of the population in Ocean Grove reached a qualification level of Certificate.

2011 2016

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