Ararat

Ararat is a small suburb with a total population of 8500, showing slight population decline over recent years. The age group distribution is diverse, with a significant number in the 45 to 64 years and 65 years or over categories. The suburb offers a median weekly household income of $1,216, with a mix of occupations, including Community and Personal Service Workers, Labourers, and Professionals. The commute to work predominantly involves motor vehicles, but there is a notable percentage of residents who work from home. Ararat presents a balanced real estate market for both houses and units. With a moderate market absorption rate, there is potential for capital growth. Houses show a wider range of sale prices compared to units, indicating opportunities for different investment strategies. The high room demand-supply ratio suggests a scope for renting out properties. The suburb's social housing ratio is low, reflecting a predominantly owner-occupied market. Ararat, VIC 3377, offers a peaceful lifestyle for residents along with investment opportunities in both houses and units. The suburb's stable market conditions, diverse age demographics, and potential for capital growth make it an attractive choice for homeowners and investors alike. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022