Warrnambool 3280 - Victoria

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Warrnambool, or Warnie, is a regional city of around 32,000 people on the south-western coast of Victoria, located in the municipality City of Warrnambool. It is at the western end of the Great Ocean Road, but is more quickly reached along the Princes Highway, 265 kilometres and 3 hours from Melbourne by road or rail.

The word Warrnambool comes from the local Aboriginal name for a nearby Volcanic cone. It has been interpreted to mean many things including "water between two rivers", "two swamps" or "ample water".

The treacherous coast near the city is known as the "Shipwreck Coast" and evidence suggests the first ships to arrive were among the earliest international explorers. The legend of the Mahogany Ship is strongly linked to the city.

The first settlers arrived in the 1840s in the Lady Bay area, which was a natural harbour. The area was first surveyed in 1846. During the Victorian Gold Rush, Warrnambool became an important port and grew quickly in the 1850s, benefiting from the private ownership of nearby Port Fairy.

It was gazetted as a municipality in 1855. It became a borough in 1863. Warrnambool was declared a town in 1883, and a city in 1918.

Warrnambool is a popular tourist destination and a comprehensive regional service centre. Major industries and services include retail, education, health, dairy, meat processing, clothing manufacture, and construction.

Latest Market Price in Warrnambool

The median house price in Warrnambool has dropped -7% from $285,000 in the 6 months to March 2008 to $264,000 in the 6 months to September 2008. The long term trend for house prices in Warrnambool over the last 10 years is +9.8% per annum.

The median unit price in Warrnambool for the same period has dropped -2% from $220,000 to $216,000. The long term trend for unit prices in Warrnambool over the last 10 years is +8.4% per annum.

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