Warrnambool and South West Property Market: Prices, Vacancy & Trends
As of May 2026, median house prices across the Warrnambool and South West SA4 range from $427,000 (Glenelg - Southern Grampians) to $690,700 (Warrnambool). The stock-weighted rental vacancy rate is 4.8%, ranging from 0.0% in Colac - Corangamite to 9.1% in Warrnambool. Top median house rent is $610/week in Warrnambool - North.
Source: Suburbtrends, 12-month rolling medians · Updated monthlyWhat is the median house price in the Warrnambool and South West?
Median house prices across the Warrnambool and South West's SA3 markets span $427,000 to $690,700, with Warrnambool the most expensive market and Glenelg - Southern Grampians the most affordable.
| SA3 market | Median house | 12-mth change | Median unit | Days on market |
|---|---|---|---|---|
| Warrnambool | $690,700 | +17.1% | $431,001 | 33 |
| Colac - Corangamite | $495,000 | −0.6% | $370,000 | 53 |
| Glenelg - Southern Grampians | $427,000 | +8.1% | $285,000 | 64 |
| SA3 market | Houses for sale | Houses for rent | Units for sale | Units for rent |
|---|---|---|---|---|
| Colac - Corangamite | 407 | 43 | 40 | 10 |
| Glenelg - Southern Grampians | 288 | 26 | 25 | 12 |
| Warrnambool | 278 | 47 | 25 | 11 |
Listings counts are the current-month average of properties advertised for sale or rent. Unit stock can be thin in regional markets — some SA2 unit markets carry only a handful of active listings at any time.
| SA2 area | SA3 | House median | House 12-mth | Unit median |
|---|---|---|---|---|
| Moyne - West | Warrnambool | $780,000 | +18.0% | — |
| Otway | Colac - Corangamite | $770,000 | −6.1% | — |
| Warrnambool - South | Warrnambool | $690,700 | +21.2% | $350,000 |
| Warrnambool - North | Warrnambool | $640,000 | +8.5% | $431,001 |
| Colac Surrounds | Colac - Corangamite | $577,786 | +3.2% | — |
| Moyne - East | Warrnambool | $575,000 | +36.9% | — |
| Colac | Colac - Corangamite | $483,000 | −0.4% | $375,000 |
| Camperdown | Colac - Corangamite | $460,000 | +10.8% | — |
| Corangamite - South | Colac - Corangamite | $460,000 | +29.6% | — |
| Portland | Glenelg - Southern Grampians | $441,500 | +3.9% | $270,000 |
| Southern Grampians † | Glenelg - Southern Grampians | $397,500 | — | — |
| Glenelg (Vic.) | Glenelg - Southern Grampians | $390,000 | +11.4% | — |
| Hamilton (Vic.) | Glenelg - Southern Grampians | $390,000 | +1.3% | — |
| Corangamite - North | Colac - Corangamite | $315,000 | −5.1% | — |
† Thin market: fewer than 40 sales in 12 months, or a distorted price mix — medians are volatile and 12-month changes are not reported. A dash indicates too few unit sales to report a reliable median.
Which Warrnambool and South West areas are growing fastest?
Among SA2 areas with robust sales volumes, the strongest 12-month house price growth to May 2026 was Moyne - East +36.9%, Corangamite - South +29.6%, Warrnambool - South +21.2%, Moyne - West +18.0%, Glenelg (Vic.) +11.4%. The softest market was Otway (-6.1%).
What is the rental vacancy rate in the Warrnambool and South West?
The stock-weighted rental vacancy rate across the Warrnambool and South West SA4 is 4.8% as at May 2026. Conditions range from 0.0% in Colac - Corangamite to 9.1% in Warrnambool — a critically tight market.
| SA3 market | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Apr 26 | May 26 | Rental stock |
|---|---|---|---|---|---|---|---|
| Colac - Corangamite | 1.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 88 |
| Glenelg - Southern Grampians | 3.8% | 6.1% | 4.0% | 4.4% | 2.0% | 1.0% | 98 |
| Warrnambool | 4.7% | 4.7% | 2.9% | 3.0% | 8.2% | 9.1% | 186 |
Suburbtrends Vacancy Index methodology: vacant rental listings as a share of total rental stock, rolling 3-month basis. SA4 weighted rate uses current rental stock weights.
What are the rents in the Warrnambool and South West?
Median house rents across the Warrnambool and South West run to $610/week in Warrnambool - North at the top of the region. Unit rents typically sit below houses; bedroom splits below show where stock supports a reading.
| SA2 area | Median | 2-bed | 3-bed | 4-bed |
|---|---|---|---|---|
| Warrnambool - North | $610 | $460 | $580 | $700 |
| Warrnambool - South | $570 | $475 | $580 | $690 |
| Otway | $540 | $475 | $540 | $600 |
| Moyne - West | $520 | $420 | $510 | $650 |
| Colac | $495 | $400 | $485 | $595 |
| Portland | $460 | $400 | $460 | $590 |
| Glenelg (Vic.) | $450 | $390 | $480 | $550 |
| Camperdown | $450 | $400 | $470 | $525 |
| Moyne - East | $450 | $380 | $450 | $500 |
| Colac Surrounds | $440 | $430 | $420 | $580 |
| Corangamite - North | $420 | $340 | $420 | $450 |
| Corangamite - South | $420 | $360 | $470 | $600 |
| Hamilton (Vic.) | $390 | $350 | $400 | $450 |
| Southern Grampians | $350 | $310 | $350 | $360 |
| SA2 area | Median | 2-bed | 3-bed |
|---|---|---|---|
| Otway | $500 | $450 | $575 |
| Warrnambool - South | $470 | $440 | $620 |
| Warrnambool - North | $450 | $450 | $600 |
| Colac Surrounds | $430 | $430 | — |
| Moyne - West | $430 | $430 | $560 |
| Portland | $420 | $400 | $650 |
| Corangamite - North | $380 | $380 | — |
| Colac | $360 | $370 | $450 |
| Hamilton (Vic.) | $340 | $350 | — |
| Corangamite - South | $330 | $330 | — |
| Camperdown | $325 | $360 | $350 |
| Moyne - East | $280 | $280 | — |
| Glenelg (Vic.) | $250 | $260 | — |
| Southern Grampians | $250 | — | $300 |
Rents are median advertised asking rents over 12 months. Bedroom splits are reported where enough listings support a reading; a dash indicates too few. Unit rents are shown only for SA2s with sufficient rental stock.
How have Warrnambool and South West prices and rents moved?
Over the 16 months to May 2026, median house prices across the Warrnambool and South West SA4 moved from $427,000 (Glenelg - Southern Grampians) to $690,700 (Warrnambool) at the extremes. The chart tracks each SA3 market for house prices, unit prices and house rents.
| SA3 | Feb 25 | Mar 25 | Apr 25 | May 25 | Jun 25 | Jul 25 | Aug 25 | Sep 25 | Oct 25 | Nov 25 | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Apr 26 | May 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Glenelg - Southern Grampians | $390,000 | $392,500 | $395,000 | $395,000 | $395,253 | $395,253 | $397,500 | $397,500 | $400,000 | $395,253 | $405,000 | $410,000 | $415,000 | $420,000 | $420,000 | $427,000 |
| Colac - Corangamite | $495,000 | $495,000 | $495,000 | $498,000 | $520,000 | $495,000 | $495,000 | $495,000 | $505,000 | $505,000 | $505,000 | $491,500 | $485,000 | $483,000 | $500,000 | $495,000 |
| Warrnambool | $590,000 | $590,000 | $580,000 | $590,000 | $590,000 | $590,000 | $591,000 | $600,000 | $620,000 | $620,000 | $640,000 | $670,000 | $690,700 | $690,700 | $691,000 | $690,700 |
How this data is compiled
Suburbtrends compiles transaction, listings and rental records monthly across every SA2, SA3 and SA4 in Australia. Medians and percentiles are calculated on a 12-month rolling basis; vacancy follows the Suburbtrends Vacancy Index methodology (vacant rental listings as a share of total rental stock, rolling 3 months). Development Rates covers completed strata projects of 4–40 dwellings, with each project's site purchase traced through the title record to derive the land component. Thin markets are flagged and 12-month changes suppressed where sample sizes do not support them. Boundaries follow the ABS ASGS Edition 3. This page was last updated with data to May 2026, and is refreshed in the first week of every month.
Kent's research is regularly cited in the Australian Financial Review, news.com.au and industry media. He previously led data science teams at major property data firms and founded Suburbtrends to publish independent, suburb-level market research. Full profile and press citations →