Colac
A crime rate of 127.7 per 1,000 population is the highest in this batch by a factor of three, yet Colac's $481,000 median represents genuine regional affordability with mortgage-to-income at just 25.3%. This tension between low cost and high crime defines the suburb's investment calculus. Manufacturing at 18.2% is the second-largest employer, the highest manufacturing share in this analysis, reflecting Colac's industrial heritage as a processing centre for the surrounding dairy and timber region. Labourers (1,048) outnumber Professionals (388) by nearly three to one, a blue-collar occupation profile that sits at the opposite end of the spectrum from capital-city knowledge economies. SEIFA IEO decile 1 is the lowest education reading nationally.
Population
9,243
Median Age
44.0
Household IncomeiMedian weekly household income (ABS Census)
$1,108/wk
DAs (12 months)iDevelopment Applications lodged in the past year
18
Median House
$481K
Apr-Jun 2024
The $481,000 median (April-June 2024) is among the lowest in this batch, offering genuine affordability. Over 14 years, the median grew from $226,500 to $481,000 (5.5% CAGR, 112.4% total), strong long-term returns. However, the current price sits 3.8% below the 2022 peak of $500,000. Detached houses at 86.2% dominate, with three-bedroom homes at 58.1% the most common type. Monthly mortgage repayments of $1,213 produce a mortgage-to-income ratio of 25.3%, below the stress threshold. With 39.8% owning outright and 28.8% mortgaged, the suburb leans toward established ownership. Car dependence is high at 83.5%, but walking/cycling at 7.4% is above average for regional Victoria.
For Buyers
The $481,000 median (April-June 2024) is among the lowest in this batch, offering genuine affordability. Over 14 years, the median grew from $226,500 to $481,000 (5.5% CAGR, 112.4% total), strong long-term returns. However, the current price sits 3.8% below the 2022 peak of $500,000. Detached houses at 86.2% dominate, with three-bedroom homes at 58.1% the most common type. Monthly mortgage repayments of $1,213 produce a mortgage-to-income ratio of 25.3%, below the stress threshold. With 39.8% owning outright and 28.8% mortgaged, the suburb leans toward established ownership. Car dependence is high at 83.5%, but walking/cycling at 7.4% is above average for regional Victoria.
For Investors
Renters at 31.3% provide a moderate tenant pool. Weekly rent of $260 against a $481,000 median produces a gross yield around 2.8%, low for regional Victoria. The vacancy rate of 9.0% is elevated and suggests some oversupply. Just 17 development applications in 12 months reflect limited building activity. Population growth of 0.35% per year (44 persons) is sluggish, with overseas migration (63 net/year) partially offset by internal outflow of 85 per year, a net-loss internal dynamic that signals domestic departures. The 14-year CAGR of 5.5% is solid, but the 3.8% retreat from the 2022 peak indicates the growth phase may have plateaued.
Development Activity
Total DAs
52
Last 12 Months
18
YoY ChangeiYear-over-year change in DA lodgements
+20.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Colac iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
St Mary's School
Prep-6 · 266 students
Trinity College Colac
7-12 · 744 students
Colac Secondary College
7-12 · 476 students
Colac South West Primary School
Prep-6 · 129 students
Colac Primary School
Prep-6 · 164 students
Demographics
English ancestry leads at 3,687, with Irish (1,255) and Scottish (1,106) forming a strongly Anglo-Celtic base. Just 11.6% were born overseas, 10.0 points below the national average, the lowest in this batch. University qualifications at 18.7% are 11.4 points below national, consistent with the IEO decile 1 rating, the lowest education attainment nationally. Mandarin (118 speakers) is the largest non-English language, an emerging presence in regional Victoria. Median age of 44 is 4 years above national. Average household size of 2.2 is below national at 2.5. The 11.0% needing assistance is the highest in this batch, reflecting the older and lower-income population.
Age Distribution
Bedrooms
Dwelling Structure
86.2%
Houses
12.6%
Townhouse
N/A
Apartment
Tenure
Outright ownership at 39.8% and mortgage at 28.8% mean owners constitute 68.6% of households, well above the national average. Renters at 31.3% form the minority tenure. Detached houses at 86.2% dominate, with semi-detached at 12.6%. Three-bedroom homes at 58.1% are overwhelmingly the most common type. Over 14 years, the median grew from $226,500 to $481,000, a 112.4% gain, but it dipped from $494,000 to $452,500 before recovering to $481,000, showing some volatility. The current price sits 3.8% below the 2022 peak of $500,000. Mortgage-to-income at 25.3% and rent-to-income at 23.5% are both below stress thresholds.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,213
Rent / wk
$260
HH Size
2.2
Personal Income / wk
$661
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
9.0%
Unoccupied
384
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
23.5%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
25.3%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
31.2%
Couples, no children
6,186
Total families
Economy & Employment
Healthcare leads at 20.5% (449 workers), but Manufacturing at 18.2% (398) is the standout, the highest manufacturing share in this analysis and reflecting Colac's dairy, timber, and food-processing industries. Construction at 9.3%, Education at 8.5%, and Retail at 7.0% follow. Labourers (1,048) dominate occupations by a wide margin, nearly three times the Professional count (388), a distribution well below the national average for professional employment. Unemployment at 3.5% is low, but participation at 49.7% is weak, with 3,121 people outside the labour force. SEIFA IEO decile 1 confirms lowest-tier education, while IRSAD decile 2 reflects overall disadvantage.
Unemployment
2.4%
Labour Force
6,053
Unemployed
148
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
61.8%
Part-time
34.7%
Participation
49.7%
Employed
3,724
Occupations
Top Industries
University
18.7%
Postgraduate
3.3%
Born Overseas
11.6%
Dwellings
3,860
Transport to Work
Walking/cycling at 7.4% is above average for regional Victoria, reflecting Colac's compact town centre. Public transport is near-absent at 0.2%, and car driving at 83.5% is dominant. The crime rate of 127.7 per 1,000 is the highest in this analysis. Property and deception offences (427) lead, followed by crimes against the person (329) and justice procedures (258). Six schools serve the suburb. St Mary's School (Catholic, ICSEA 1,025, 266 students) and Trinity College Colac (Catholic, ICSEA 1,015, 744 students) sit above the 1,000 benchmark. Government schools range from Colac Secondary (ICSEA 955, 476 students) down to Colac West Primary (ICSEA 899, 62 students). IRSAD decile 2 confirms socio-economic disadvantage.
Drive
83.5%
Public Transport
0.2%
Walk / Cycle
7.4%
Work from Home
N/A
Population Forecast
+0.35%/yr
(+44 people/yr)
EstablishedPopulation grows at 0.35% per year (44 persons), below the national average. The 10-year change of 8.3% is modest. Overseas migration averages 63 net per year, but internal migration runs at negative 85, meaning more domestic residents leave than arrive. The medium forecast projects 13,003 by 2031, up marginally from 12,558 in 2025. The senior share grew 4.1 points while the young share declined 2.0 points, confirming an aging trajectory. Affordability has remained stable, with the ratio moving from 36.1% to 37.1% over the decade. Real income grew 14.4%, moderate but above inflation.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+63
Net Internal / yr
-85
Gentrification Signal
Not gentrifying
Safety & Crime
Total Offences
1,180
Year ending June 2024
Rate per 1,000 People
127.7
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Colac compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Colac a good suburb to live in?
Colac offers genuine affordability ($481,000 median, mortgage-to-income 25.3%) and compact walkability (7.4% walk/cycle). However, the crime rate of 127.7 per 1,000 is the highest in this batch, IRSAD decile 2 indicates significant disadvantage, and IEO decile 1 reflects the lowest education tier nationally. The 11.0% needing assistance is also elevated. It suits buyers prioritising cost over amenity.
What is the median house price in Colac?
The median is $481,000 (April-June 2024), up 112.4% from $226,500 over 14 years (5.5% CAGR). It sits 3.8% below the 2022 peak of $500,000. Monthly mortgage repayments are $1,213 with a mortgage-to-income ratio of 25.3%. Median weekly rent is $260.
What schools are in Colac?
Six schools serve the suburb. St Mary's School (Catholic, ICSEA 1,025, 266 students) and Trinity College Colac (Catholic, ICSEA 1,015, 744 students) sit above the national benchmark. Government options include Colac Secondary (ICSEA 955, 476 students), Colac South West Primary (ICSEA 948, 129 students), Colac Primary (ICSEA 946, 164 students), and Colac West Primary (ICSEA 899, 62 students).
Is Colac safe?
The crime rate of 127.7 per 1,000 population (1,180 total offences) is the highest in this analysis. Property and deception offences (427) lead, followed by crimes against the person (329) and justice procedures (258). Drug offences (87) are also notable. IRSD decile 2 indicates significant disadvantage, which correlates with higher crime nationally.
Is Colac good for property investment?
The 14-year CAGR of 5.5% is solid, but the current price sits 3.8% below the 2022 peak, suggesting a plateauing market. Gross yield is approximately 2.8% ($260/week on $481,000), low for regional Victoria. The 9.0% vacancy rate and 31.3% renter share are moderate. Population growth of 0.35% annually is sluggish, and internal outflow of 85/year is a demand concern.
How is Colac's population changing?
Growth is slow at 0.35% per year (44 persons). Internal migration runs at negative 85 per year, with overseas arrivals (63 net/year) partially offsetting departures. The senior share grew 4.1 points over the decade while the young share declined 2.0 points, confirming an aging trajectory. Medium projection reaches 13,003 by 2031. The 10-year population change of 8.3% is below the national average.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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