Rainbow, VIC 3424: Suburb Profile & Property Report

Market Report

House report
Unit Report

Rainbow has 14 houses available for sale. The median property price for a house is currently $217,500 with annual capital growth of 40.32% . There were 9 house sales in the past 12 months. On average, houses spend 46 days on market.

Houses have seen 11.54% growth in the past quarter, and 40.32% growth in the past 12 months.

The size of Rainbow is approximately 890.7 square kilometres. It has 5 parks covering nearly 8.9% of total area. The population of Rainbow in 2011 was 735 people. By 2016 the population was 688 showing a population decline of 6.4% in the area during that time. The predominant age group in Rainbow is 60-69 years.

Households in Rainbow are primarily childless couples and are likely to be repaying under $300 per month on mortgage repayments. In general, people in Rainbow work in a managers occupation. In 2011, 79.4% of the homes in Rainbow were owner-occupied compared with 82.2% in 2016.

Rainbow has 1 unit available for sale. There were 1 unit sales in the past 12 months.

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Key Market Data	House	Unit
Median price	$217,500	–
Quarterly growth	+11.54%	–
12-month growth	+40.32%	–
Average annual growth	+16.93%	–
Weekly median rent	–	–
Gross rental yield	9.84%	5.36%
Number of Sales (12m)	9	1
Avg. Days on Market (12m)	46	–

Jump to Market Trends

Key Demographics	2011	2016
Total population	735	688
Population change (5y)	+13.25%	-6.40%
Median household income (p/w)	$760	$893
Household income change (5y)	+32.40%	+17.50%
Median age of persons	48	52

Jump to Demographics Trends

Market Trends

Houses

Units

The Median Sale Price in Rainbow is $217,500 for houses.

The Median Growth in Rainbow over the past 12 months is 40.32% for houses.

Over the past 12 months there were 9 houses sold and 1 units sold in Rainbow. On average, houses spent 46 days on market.

In the past 12 months up to August 2024 there were 9 houses sold and 1 units sold in Rainbow. On average, houses spent 46 days on market.

1 Year 5 Years 10 Years

Houses

Units

Data is not currently available for the past 12 months.

The Rental Yield in Rainbow is 9.84% for houses and 5.36% 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 Rainbow was 688 in 2016, a -6.40% change compared to 2011.

The predominant age group in Rainbow is 60-69 years.

The population of Rainbow was 688 in 2016, a -6.40% change compared to 2011.

The predominant age group in Rainbow is 60-69 years.

Most of the population in Rainbow were born in Australia.

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

Most of the population in Rainbow report their religion as Lutheran.

Most of the population in Rainbow report their income range as between $15,000 and $33,000 .

The median household income in Rainbow was $893 in 2016, a +17.50% change compared to 2011.

Most of the population in Rainbow report their income range as between $15,000 and $31,000 .

The median household income in Rainbow was $760 in 2011, a +32.40% change compared to 2006.

Most of the population in Rainbow work as Managers.

The chart below demonstrates the various levels of education in Rainbow.

Most of the population in Rainbow reached a qualification level of Certificate.

2011 2016

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