Get a property report and suburb profile for any property in Warrnambool

Warrnambool is a coastal regional city on Victoria’s south-west coast, centred on a working harbour and long sandy beaches. It is known for Flagstaff Hill, whale watching at Logan’s Beach and parkland such as Lake Pertobe. Residents include young families, retirees and people drawn to holiday homes; the community numbers 31,308 and has a median age of 42.

Everyday life balances surfing, fishing and beach walks with festivals, cafes and community facilities. Housing ranges from period cottages near the centre to newer family estates and coastal properties, and the town has regional rail, road and air links. Recent public investment includes a rail upgrade, a major hospital redevelopment, a council foreshore plan and projects for the aquatic centre, affordable and social housing and the Deakin University campus. Whether Warrnambool suits you will depend on whether you want a coastal regional centre with those services and lifestyle options.

On these figures, buying in Warrnambool sits well above what a typical local household earned at the last Census. A median house price of $645,448 is about 9.0 times a typical local annual household income at the last Census, and a median unit price of $495,000 is about 6.9 times that income. Both sit in the range that is well above local incomes, with houses especially high relative to the local income benchmark.

Renting also takes a noticeable share of local income. House rent at $580 a week is about 42% of a typical local household's weekly income at the last Census, a large share, while unit rent at $430 a week is roughly 31% of weekly income, a sizeable share. Whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Over the past year house values in Warrnambool rose 8.6% and unit values rose 9.3%, both notable increases in property values. On the income side, house rents increased 5.5% (a solid rise) while unit rents rose a more modest 2.4%. Put simply, property prices grew faster than rents over the year, and that gap is especially marked for units where value growth outpaced rent growth by several percentage points. If rental income is your priority the rent figures are the most relevant; if capital growth matters more the value changes are the key numbers. Whether those outcomes suit your investment goals depends on your own circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.