Town by town snapshot

November 26, 2020 BY

This Grovedale family home was sold recently for $535,000 which is just about where the median house price for the area sits today.

Town Profile: Grovedale

The size of Grovedale is approximately seven square kilometres and has four parks covering nearly 2.2 per cent of total area.
The population of Grovedale in 2011 was 14,153 people and by the 2016 Census the population was 14,314 showing a population growth of 1.1 per cent in the area during that time.
Grovedale was named after a property of about 76 hectares acquired by Alexander Pennell in 1847, just south of Waurn Ponds Creek.
Originally the place was named Germantown, which arose from several families of Lutheran German origin who arrived at Corio Bay in 1849.
A Geelong pioneer, Dr Alexander Thomson, encouraged them to settle on Pennell’s land and a school was opened in 1854.
By the mid-1860’s there were about 70 families of German origin settled there, and there were two hotels, two flour mills, two tanneries and four wool washing establishments.
In September 1915, after the outbreak of World War I, the South Barwon Council changed the name to Grovedale.
Grovedale continued to be an agricultural district until the mid-1960’s when residential expansion from neighbouring Belmont began.
In 1970 the estimated population was 1,200 persons and in 1980 the suburb had grown to 5,000.
The iconic Grovedale Hotel is a prominent feature of the suburb and remains as popular as ever despite the COVID dilemma that has tormented hospitality businesses.
CoreLogic data indicates that the predominant age group in Grovedale is 20-29 years with households in Grovedale being primarily childless couples and are likely to be repaying $1,400 – $1,799 per month on mortgage repayments, and in general, people in Grovedale work in a professional occupation.
In 2011, 74.1 per cent of the homes in Grovedale were owner-occupied compared with 70.5 per cent in 2016.

In the last five years 1,205 houses and 224 units were sold in Grovedale

Population: 14,314
Male: 47.7%
Female: 52.3%
Median age: 40
5 year population change: 1.1%
Median house price: $530,000
Change in Median Price: (5yrs) is 44%
Median asking rent per week: $390
Average length of ownership: 12 years
Owner occupiers: 74%
Renters: 26%

Historic median house price:
August 2020: $530,000
August 2019: $492,500
August 2018: $475,000
August 2017: $416,000
August 2016: $381,500

House sales per annum:
Period ending August 2020: 225
Period ending August 2019: 238

Land median sale price:
August 2020: $310,000
August 2019: $328,000

Land sales per annum:
Period ending August 2020: 29
Period ending August 2019: 17