This three-bedroom home built in 1970 sold recently for $507,000, which is about spot on the present median house price for Grovedale.

Town by Town Snapshot: Grovedale

May 7, 2020 BY

THE size of Grovedale is about 7 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-1860s there were about 70 families of German origin settled there, and there were also 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-1960s 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.
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.

 

Population: 14,314

Male: 47.7%

Female: 52.3%

Median age: 40

5 year population change: 1.1%

Median house price: $505,000

Change in Median Price: (5yrs) is 38.3%

Median asking rent per week: $400

Average length of ownership: 12 years

Owner occupiers: 74%

Renters: 26%

 

Historic median house price:

January 2020: $505,000

January 2019: $489,000

January 2018: $440,000

January 2017: $400,000

January 2016: $370,000

 

House sales per annum:

Period ending January 2020: 261

Period ending January 2019: 244

 

Land median sale price:

January 2020: $342,500

January 2019: $332,000

 

Land sales per annum:

Period ending January 2020: 21

Period ending January 2019: 7