Coronet Bay
A 45.9% vacancy rate is the defining number in Coronet Bay, pointing to a suburb where a large share of properties sit empty outside holiday periods. With a median age of 51, which is 11 years above the national figure, the resident base skews heavily toward retirees and semi-retirees. Despite household income sitting at just the 11th percentile nationally, 44.4% of households own their home outright, a share that reflects wealth built over decades rather than current earnings. The median house price sits at $510,000 and has more than doubled since 2013, recording a 5.2% compound annual growth rate over 14 years.
Population
1,108
Median Age
51.0
Household IncomeiMedian weekly household income (ABS Census)
$952/wk
DAs (12 months)iDevelopment Applications lodged in the past year
1
Median House
$510K
Apr-Jun 2024
The median house price of $510,000 is accessible compared to metro Melbourne, and 99.4% of dwellings are separate houses, so buyers get land. Three-bedroom homes dominate at 53.1% of stock, with 4-plus bedrooms at 23.9% and 2-bedroom at 20.3%. Monthly mortgage repayments average $1,300, though the mortgage-to-income ratio sits at 31.5%, above the standard 30% stress threshold because household income falls in the bottom 11th percentile nationally. That combination means buyers here need a solid deposit to keep repayments manageable. The suburb peaked at $635,000 in 2022 and the latest reading of $510,000 is 19.7% below that peak, creating a potential entry window for buyers comfortable with coastal market volatility.
For Buyers
The median house price of $510,000 is accessible compared to metro Melbourne, and 99.4% of dwellings are separate houses, so buyers get land. Three-bedroom homes dominate at 53.1% of stock, with 4-plus bedrooms at 23.9% and 2-bedroom at 20.3%. Monthly mortgage repayments average $1,300, though the mortgage-to-income ratio sits at 31.5%, above the standard 30% stress threshold because household income falls in the bottom 11th percentile nationally. That combination means buyers here need a solid deposit to keep repayments manageable. The suburb peaked at $635,000 in 2022 and the latest reading of $510,000 is 19.7% below that peak, creating a potential entry window for buyers comfortable with coastal market volatility.
For Investors
The 45.9% vacancy rate is the central challenge for investors. This level typically signals a holiday-let market where dwellings sit unoccupied for extended stretches, making consistent rental income harder to achieve. Weekly rent averages $281 against a $510,000 median, implying a gross yield near 2.9% if fully tenanted, but actual returns depend heavily on occupancy. Only 21.1% of households are long-term renters, compared to the 44.4% who own outright, confirming that tenancy demand is thin. Development activity is minimal at 1 application in 12 months, so supply pressure is not an issue. The 5.2% CAGR over 14 years and a 103.2% gain since 2013 show capital growth has been the real story here, rather than yield.
Development Activity
Total DAs
8
Last 12 Months
1
YoY ChangeiYear-over-year change in DA lodgements
-50.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
Coronet Bay has a median age of 51, which is 11 years above the national average, making it one of the older suburb profiles in the state. Couples without children make up 40.3% of families, consistent with a post-family, semi-retirement cohort. The average household size is 2.0, which is 0.5 below the national figure, again reflecting smaller households typical of older demographics. Overseas-born residents account for 19.0% of the population, which is 2.6 percentage points below the national rate. Ancestry leans strongly Anglo-Celtic, led by English (470), Irish (147) and Scottish (145) backgrounds. University qualifications reach only 14.2%, which is 15.9 percentage points below the national figure, consistent with a trade and services oriented community.
Age Distribution
Bedrooms
Dwelling Structure
99.4%
Houses
N/A
Townhouse
0.6%
Apartment
Tenure
Separate houses account for 99.4% of dwellings, making Coronet Bay one of the most detached-dominant suburbs in the state. Outright ownership at 44.4% is elevated, reflecting a long-settled, older population that has paid down debt. Those still carrying a mortgage face a 31.5% mortgage-to-income ratio, above the 30% stress line, because incomes are well below average. Renters make up just 21.1% of households. The price history shows significant range: from a trough of $240,000 in 2015 to a peak of $635,000 in 2022, settling back to $510,000 in Apr-Jun 2024, which is 19.7% below peak. Over the full 14-year period from 2013, prices have risen 103.2%, or 5.2% per year compounded, broadly tracking national coastal market trends.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,300
Rent / wk
$281
HH Size
2.0
Personal Income / wk
$542
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
45.9%
Unoccupied
409
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
29.5%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
31.5% stressed
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
40.3%
Couples, no children
766
Total families
Economy & Employment
Labour force participation sits at just 41.0%, well below national norms, because 438 residents are not in the labour force at all, consistent with a retirement-skewed population. Of those who do work, 56.9% are employed full-time and 6.4% are unemployed. Healthcare leads all industries at 18.7% of workers (47 people), followed by Construction at 15.5% (39) and Education at 11.9% (30). By occupation, Labourers are the largest group (67), followed by Professionals (57) and Clerical/Admin (50). Household income sits at the 11th percentile nationally, which is significantly below the state average, yet high outright ownership rates suggest past capital gains have compensated for lower wages. SEIFA index data is not available for this suburb.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
56.9%
Part-time
36.7%
Participation
41.0%
Employed
367
Occupations
Top Industries
University
14.2%
Postgraduate
2.5%
Born Overseas
19.0%
Dwellings
483
Transport to Work
Car ownership is the practical baseline here, with 92.7% of residents driving to work and only 1.0% using public transport, the lowest public transport rate compared to most Victorian suburbs. This is consistent with a coastal location where public transport connections are limited. The crime rate of 61.4 incidents per 1,000 residents covers 68 total offences, led by crimes against the person (24), property offences (20) and justice procedures offences (20). No schools are recorded within the suburb boundary, so families with children rely on schools in nearby towns. The volunteering rate of 15.2% is an indicator of community cohesion. Medical assistance needs affect 9.0% of residents (93 people), a higher rate than average nationally, in line with the older median age of 51.
Drive
92.7%
Public Transport
1.0%
Walk / Cycle
1.7%
Work from Home
N/A
Safety & Crime
Total Offences
68
Year ending June 2024
Rate per 1,000 People
61.4
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 Coronet Bay compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Coronet Bay a good suburb to live in?
Coronet Bay suits retirees and sea-changers more than young families. The median age of 51 is 11 years above the national average and 44.4% of homes are owned outright. There are no schools within the suburb and public transport covers just 1.0% of commuters, so the lifestyle is quiet and car-dependent. The median house price of $510,000 is below metro Melbourne levels.
What is the median house price in Coronet Bay?
The median house price is $510,000 as of Apr-Jun 2024, which is 19.7% below the 2022 peak of $635,000. Prices have risen 103.2% since 2013, a compound annual growth rate of 5.2% over 14 years. Monthly mortgage repayments average $1,300, but the mortgage-to-income ratio of 31.5% is above the stress threshold given local incomes.
What schools are in Coronet Bay?
No schools are recorded within the Coronet Bay suburb boundary. Families with school-age children need to travel to neighbouring towns for primary and secondary education. The suburb's older demographic profile, with a median age of 51 and 40.3% of families being couples without children, reflects limited demand for local schooling.
Is Coronet Bay safe?
The recorded crime rate is 61.4 incidents per 1,000 residents, covering 68 total offences across the suburb's 1,108 residents. The leading categories are crimes against the person (24 incidents), property and deception offences (20) and justice procedures offences (20). Drug offences account for just 3 incidents, below typical regional averages.
Is Coronet Bay good for property investment?
The suburb has delivered 103.2% price growth since 2013, a 5.2% compound annual rate, but the 45.9% vacancy rate signals a holiday-let market with inconsistent occupancy. Weekly rent of $281 against a $510,000 median gives a gross yield near 2.9% when tenanted, and only 21.1% of households are long-term renters. Capital growth has been the primary return driver, not yield.
How is Coronet Bay's population changing?
The suburb's 1,108 residents form a stable, older community, with 73.1% having stayed at the same address over the prior five years, higher than typical growth suburbs. The median age of 51 is 11 years above the national average. The high 45.9% vacancy rate indicates a large share of dwellings are holiday or investment properties rather than permanent residences, so the effective seasonal population is much larger.
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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