Marengo, located in the Colac Otway Shire of Victoria, offers a unique blend of coastal living and natural beauty, making it an appealing option for both homeowners and investors. The housing market here is characterized by a mix of charming holiday homes, modern residences, and occasional undeveloped plots, catering to a diverse range of preferences and budgets. Due to its proximity to the iconic Great Ocean Road and the popular tourist destination of Apollo Bay, property demand in Marengo is often buoyed by its scenic appeal and the lifestyle it offers. While the market can be competitive, particularly during peak tourist seasons, it generally remains more affordable compared to major urban centers. It's not uncommon for properties with stunning ocean views to attract higher prices, reflecting the value placed on Marengo’s idyllic coastal setting.
Living in Marengo provides residents with the tranquility of seaside life, along with the convenience of easy access to local amenities and outdoor activities. It's a small, close-knit community where the stunning backdrop of the Southern Ocean and lush Otway Ranges are part of daily life. Residents often enjoy a laid-back lifestyle, with opportunities for surfing, fishing, and coastal walks right at their doorstep. The community is known for its friendly vibe, making it a welcoming place for families, retirees, and those seeking a peaceful retreat from the hustle and bustle of city life. Despite its serene environment, Marengo is not far from Apollo Bay, where one can find a variety of dining, shopping, and cultural experiences, adding to the area's charm as both a permanent residence and a desirable holiday getaway.
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Housing Stock
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Thinking about buying in Marengo? Now could not be a better time, with just 465 residential dwellings it's a highly sought after location. The average property price in this area is in the region of $1,096,000 with prices in this suburb ranging from $243,000 to $4,156,000. Marengo is located very near to the coast so expect stunning views of the ocean and access to beaches. Demand is likely to be very strong in this location which will support higher prices
In Marengo there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. Low average incomes in Marengo is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. Low average earnings from people in Marengo leads to lower quality housing which also negatively impacts the provision of facilities. As a consequence this area is often seen as less desirable, with lower quality of housing and slower price growth. Low population density implies low demand and limits housing choices and price increases. Could be a good entry point for first home buyers needing to somehow get into the market. With very low industrial sector presence in Marengo the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.
Instant Property ValuationApollo Bay P-12 College
(While the above schools are located with the suburb of Marengo there may also be nearby schools whose catchments cover this suburb)Incidents Trend State Average
| (mm) RAIN | Min (°C) TEMP | Max (°C) TEMP | Min (%) HUMIDITY | Max (%) HUMIDITY | (m/sec) WIND | (MJ/sq m) SOLAR | |
|---|---|---|---|---|---|---|---|
| Jan | 4.0 | 20.8 | 28.8 | 60.0 | 88.6 | 5.2 | 24.1 |
| Feb | 10.5 | 20.1 | 28.1 | 60.8 | 91.2 | 4.5 | 19.3 |
| Mar | 11.9 | 18.9 | 26.7 | 63.1 | 92.5 | 4.5 | 15.8 |
| Apr | 4.3 | 15.2 | 24.7 | 56.4 | 92.5 | 3.8 | 14.9 |
| May | 3.0 | 12 | 22.6 | 52.9 | 92.2 | 3.4 | 12.3 |
| Jun | 3.3 | 9.8 | 20.1 | 54.0 | 91.5 | 3.7 | 11.0 |
| Jul | 1.1 | 7.7 | 20.2 | 47.3 | 92.9 | 3.4 | 12 |
| Aug | 1.7 | 8.0 | 21.2 | 43.0 | 92.0 | 3.7 | 15.2 |
| Sept | 2.1 | 11.3 | 22.9 | 46.7 | 90.2 | 4.5 | 17.7 |
| Oct | 3.5 | 14.0 | 24.1 | 53.8 | 90.7 | 4.6 | 20.7 |
| Nov | 1.2 | 16.5 | 26.5 | 49.8 | 87.5 | 5.1 | 24.9 |
| Dec | 6.5 | 19.0 | 27.4 | 57.9 | 88.5 | 5.2 | 23.0 |
source: Australian Government Bureau of Meteorology
| 27-05-2022 | $450,000 | 9752 Armidale Road |
| 04-03-2022 | $370,000 | 9754 Armidale Road |
| 15-12-2021 | $1,775,000 | 1465 Marengo Road |
| 17-08-2017 | $750,000 | 1465 Marengo Road |
| 17-08-2017 | $208,000 | 4450 Chaelundi Road |
| 08-01-2016 | $5,450,000 | 1825 Marengo Road |
| 19-07-2007 | $560,000 | 4450 Chaelundi Road |
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