Colac Otway
Grey River
Grey River at a glance
Median house
$381,000
Median unit
$274,320
Walk score
0
Very car dependent
Population
4
Median age 61
About
Welcome to Grey River.
Grey River (3234) sits in the Colac Otway region of Victoria. The median house here is $381,000, well below the Victoria median of around $850K.
Grey River has roughly 4 residents, with a retiree-heavy demographic. Households are predominantly owner-occupied. Daily life is car-dependent: most residents drive to work, school and the shops.
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Houses change hands at $381,000 on a typical sale, well below the Victoria median. Units come in around $274,320, roughly 28% below the house median.
For buyers
A 20% deposit on the median house works out to roughly $76,000. Prices are well below the Victoria median, which keeps Grey River on the radar for first-home buyers and right-sizers.
Market
The price of a home here.
Median house price
$381,000
+0.0% over the past year. Median unit price $274,320.
Rental and ownership
Weekly rent (house)
$301/wk
Weekly rent (unit)
$256/wk
Owner occupied
100%
Renter occupied
–
At a deeper level
$381,000
$274,320
4
Median age: 61
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For investors
Investment overview.
Gross rental yield on houses sits at 4.11% (median rent $301/wk against a $381,000 price tag). Units yield 4.85% gross, often the better cash-flow play for first-time investors.
Gross Yield (House)
Source: RTBA, Residential Tenancies Bond Authority (VIC)4.11%
Based on $381,000 median
Gross Yield (Unit)
Source: RTBA, Residential Tenancies Bond Authority (VIC)4.85%
Based on $274,320 median
Annual Growth (House)
Source: RTBA, Residential Tenancies Bond Authority (VIC)–
Year-on-year capital growth
Annual Growth (Unit)
Source: RTBA, Residential Tenancies Bond Authority (VIC)–
Year-on-year capital growth
Owner Occupancy
Source: ABS Census 2021 · May 2026100%
Higher = more owner-occupier demand
Days on Market
Source: RTBA, Residential Tenancies Bond Authority (VIC)–
Lower = higher buyer demand
Gross rental yield is annual rent divided by purchase price, before expenses. It does not account for vacancy rates, management fees, maintenance, or financing costs. Use this as a starting point for further research.
Who lives here
Demographics.
The 2021 Census put Grey River's population at 4, with a median age of 61. That sits as a retiree-heavy demographic. Households are predominantly owner-occupied (100% own, 0% rent), which shapes everything from school catchment stability to how often properties turn over.
Population
4
Median age
61
Family households
–
Lone person
–
Demographics data as of May 2026· ABS 2021 Census
Day to day
What it’s like to live here.
Grey River scores 0/100 on walkability, which makes it car-dependent with limited public transport. Plan for two cars in a typical household, especially if work isn't local.
Summer days here average around 25°C (mild), winter mornings around 3°C (cold). Annual rainfall lands at about 612mm. Data comes from the Bureau of Meteorology's Geelong Racecourse station, 83.9km away.
Getting around
Walkability.
0
0
0
Scores calculated from OpenStreetMap data (ODbL)
Walkability data as of May 2026· OpenStreetMap
Place
Location.
Amenities
Transport
Education
Schools in Grey River.
Local schools for Grey River
View the catchment for each school to find out more.
Government School Catchment
Apollo Bay P-12 College
Lorne P-12 College
© ACARA, licensed under CC BY 4.0.
Climate
Weather year-round.
Annual Rainfall
612 mm
Hottest Month (avg max)
25.6°C
Coldest Month (avg min)
3.0°C
Monthly Rainfall (mm)
Weather data from BOM station Geelong Racecourse (84 km away)
Climate data as of May 2026· Bureau of Meteorology
Frequently asked
About Grey River.
- What is the median house price in Grey River?
- The median house price in Grey River, VIC 3234 is $381,000. The median unit price is $274,320. Annual growth is +0.0%.
- What is the Grey River postcode?
- Grey River is in the 3234 postcode, in VIC, in the Colac Otway region.
- What is the average rent in Grey River?
- The median weekly rent for houses is $301, for units it's $256.
- What schools are in Grey River?
- There are 2 schools serving Grey River on this page, including Apollo Bay P-12 College, Lorne P-12 College.
- How walkable is Grey River?
- Grey River has a Walk Score of 0 out of 100, highly car-dependent. transit score 0, bike score 0.
- What suburbs are near Grey River?
- Grey River is close to Grey River, Kennett River, Kennett River, Sugarloaf, Sugarloaf.
- What is the population of Grey River?
- Grey River has approximately 4 residents. The median age is 61.
For Sale
Grey River
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Surrounding Suburbs
Side by side
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Sources cited
Median, growth and rental data from state revenue offices and ABS. Census from ABS 2021. Climate from BoM. Hazard from Geoscience Australia. School data from ACARA. Crime from state police open data. Full methodology →
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