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Hamilton suburb profile

Hamilton, located in Victoria's Western District, is a charming regional town known for its rich pastoral history and vibrant community spirit. Often referred to as the "Wool Capital of the World," Hamilton boasts a strong agricultural heritage, with sheep farming playing a significant role in its economy. The town offers a blend of historic architecture, modern amenities, and cultural attractions, including the renowned Hamilton Art Gallery. Surrounded by picturesque landscapes, Hamilton provides residents and visitors with a range of outdoor activities, from exploring the nearby Grampians National Park to enjoying local parks and gardens. Its welcoming atmosphere and strong community ties make Hamilton an appealing destination for families and retirees.

Hamilton property market performance

Current median dwelling price$404,500Past 3 months

Hamilton’s property market has shown positive growth in the housing sector over the past 12 months, with house values increasing by 6.3%, bringing the median house price to $440,000. The unit market, however, has remained stagnant with no change in median value, reflecting limited activity in this segment.

Sales activity has been more robust in the housing market, with 56 houses sold compared to just 4 units over the past 12 months. Houses are taking slightly longer to sell, with a median of 43 days on the market, while units are moving faster at 38 days, indicating a quicker turnover despite the lower volume.

In the rental market, house rents have seen a modest increase of 2.6%, averaging $390, while unit rents have surged by 13.8%, reaching an average of $330, suggesting a growing demand for rental units in Hamilton.

HousesUnits
Median price
Past 3 months
$450KN/A
Change in value
Past 12 months
1.8%N/A
Sold
Past 3 months
595
Median days on market
Past 12 months
4035
Average rent
Past 12 months
$390$330
Change in rent
Past 12 months
5.4%10.0%

5 year median price trend for houses and units

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Hamilton demographics

Hamilton, located in Victoria's Western District, is a charming regional town known for its rich agricultural heritage and welcoming community. With a population of 10,346, Hamilton offers a peaceful lifestyle, making it an attractive choice for families and retirees. The median age of 45 reflects a mature community, with many residents enjoying the town's relaxed pace and strong sense of community.

The town's housing market is characterized by a high rate of home ownership, with 43.3% of properties owned outright and 32.4% owned with a mortgage. This stability is complemented by a smaller rental market, with 24.3% of properties rented, appealing to those seeking long-term residence. The family composition in Hamilton is diverse, with 36.1% of families being couples with children and 46.4% being couples without children, indicating a balanced mix of family types.

Hamilton's economy is supported by agriculture, education, and healthcare, providing employment opportunities for its residents. The median total household income of $1,247 per week reflects the town's modest yet comfortable living standards. With its picturesque landscapes, community events, and local amenities, Hamilton offers a fulfilling lifestyle for those seeking a blend of rural charm and modern convenience.

Suburbs near Hamilton

Some popular suburbs near Hamilton include:

  • Cavendish: Known for its rural charm and scenic landscapes, Cavendish is located to the north of Hamilton.
  • Penshurst: Famous for its volcanic landscapes and historic buildings, Penshurst is situated to the southeast of Hamilton.
  • Dunkeld: Offering stunning views of the Grampians and a vibrant arts scene, Dunkeld lies to the northeast of Hamilton.
  • Macarthur: Known for its agricultural heritage and community spirit, Macarthur is located to the south of Hamilton.
  • Coleraine: Featuring a rich history and picturesque countryside, Coleraine is situated to the west of Hamilton.

How does Hamilton compare to nearby suburbs?

  • House price growth: Property prices in nearby Dunkeld have risen 9.3% more than in Hamilton over the past year.
  • Selling speed for houses: Properties in Hamilton are selling 77.7% faster than in Dunkeld.

Choose the right real estate agents in Hamilton

Currently, there are 21 real estate agents working in Hamilton—but not all agents deliver the same results. The right agent could make a huge difference to your final sale price.

Only 5 out of these 21 agents sold 56.0% of all properties in Hamilton over the past year. Choosing one of these top-performing agents means tapping into proven expertise for a better sale outcome.

Real estate agents in Hamilton typically charge a commission of 2% to 2.75%. Negotiating a fair commission rate and the right structure can motivate your agent to work even harder, helping you sell for more and potentially saving you thousands of dollars.

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