Economic Indicators Bulletin 2012

GEELONG FAST FACTS

Population Growth 2011-2031

Local Government Area
Population 2011
Population 2031
Growth Rate
(% pa)
Area
(km2)
Greater Geelong (C)
215,151
302,362
1.7%
1,245
Surf Coast (S)
26,493
40,892
2.2%
1,553
Queenscliffe (B)
3,054
3,567
0.8%
9
Golden Plains (S)
18,917
26,870
1.8%
2,704
Colac Otway (S)
20,578
26,755
1.3%
3,433
Total (Barwon Region)
284,193
400,446
1.7%
8,944
Victoria
5,534,526
7,326,564
1.4%
227,590

Source: Australian Bureau of Statistics and Department of Sustainability & Environment, 'Victoria in Future 2012'.

Major Industry Sectors - City of Greater Geelong

Industry
Jobs
% of Workforce
Annual Output ($m)
Health Care & Social Assistance
12,586
15.9%
$1,383
Retail Trade
11,355
14.3%
$1,066
Manufacturing
10,154
12.8%
$10,735
Education & Training
8,482
10.7%
$948
Accommodation
& Food Services
5,439
6.9%
$634
Construction
5,328
6.7%
$1,914
Public Administration
& Safety
4,093
5.2%
$733

Source: ABS 2011 Census & REMPLAN (Regional Economic Modelling and Planning System), December 2012.

 

Labour Force
2006
2011
% Change
City of Greater Geelong
91,930
101,040
+9.9%
Barwon Region
121,590
134,430
+10.6%

Source: ABS 2006 and 2011 Census.

 

 

Journey to Work (Number of Commuters)
2006
2011
% Change
Greater Geelong to Greater Melbourne
9,590
11,980
+24.9%
Greater Melbourne to Greater Geelong
2,860
3,650
+27.6%

Source: ABS 2006 and 2011 Census.

 

Unemployment Rate (12 month average to June 2012)
Barwon Western District
5.1%
Victoria
5.4%

 

Major Employers
Employees (FTE)
Barwon Health
3,842
Department of Education
2,975
Deakin University
(Waurn Ponds & Waterfront campuses)
1,693
City of Greater Geelong
1,418
Woolworths Supermarkets
1,213
Ford Motor Company of Australia
1,191
Target (Head Office & Retail)
1,038
Catholic Education System
950
Karingal Inc
851
Cotton On (Head Office & Retail)
850
Gforce Employment Services
(includes placements)
790
Transport Accident Commission
757
Avalon Airport (all activities)
756

Source: City of Greater Geelong. FTE - Full-time Equivalent.

Region Map. Geelong is a place of exciting opportunities. With a positive attitute to investment... Geelong is OPEN FOR BUSINESS.

REGIONAL HIGHLIGHTS 2012 SUMMARY

GEELONG, VICTORIA, AUSTRALIA

Geelong, located 75km south west of Melbourne, is Victoria's largest regional City. It is part of the Barwon Region, which is experiencing rapid growth and is vital to the State and National economy. With over 16,000 businesses, a highly skilled workforce, state-of-the-art infrastructure, and comprehensive business support services the region is positioned for strong economic growth.

Manufacturing is Geelong's largest contributor to Gross Regional Product, with key growth sectors being: health care & social assistance; education & training; professional, scientific & technical services; construction; and tourism.

ECONOMIC INDICATORS SUMMARY

The region's attractive lifestyle continues to drive strong population growth and fuel economic activity. Diverse strategy work is being implemented across the region to manage this population growth, support business development and ensure a sustainable future. An innovative business culture and strong spirit of collaboration across the public and private sector are major strengths of the region and are driving success.

Many significant investment projects are underway to meet current and future growth demands, including major road duplications and extensions, recycled water infrastructure, new and upgraded health and education facilities and a globally significant research centre.

The Barwon Region's economy experienced solid growth across many key economic indicators during 2012:

  • The Barwon Western District's average unemployment rate in 2011/12 was 5.1%, 0.3 percentage points lower than Victoria and 0.1pts lower than Australia.
  • Total building activity in the Barwon Region increased by 14.4% in 2011/12, up from $1.2 billion to a record $1.4 billion.
  • Domestic building activity in the Barwon Region reached $1.1 billion in 2011/12, a 23.0% increase and the highest figure on record.
  • The City of Greater Geelong approved 1,885 new dwellings in 2011/12, an increase of 2.1% compared to the previous year.
  • Non-domestic building activity in the City of Greater Geelong increased by 14.8% in 2011/12, up to $297.1m (spurred by significant investment in public buildings, health, industrial and residential projects).
  • The median house price in the City of Greater Geelong increased by 4.3% in 2011 to $360,000 (metropolitan Melbourne experienced a 1.0% drop in median house prices).
  • The latest population estimate for the Barwon Region (June 2011) is 284,193 residents, an annual increase of 2,832 people or 1.0%. The City of Greater Geelong grew by 0.9% to reach 215,151 residents. The Surf Coast Shire grew the fastest during this period at a rate of 2.5%.
  • The City of Greater Geelong has a labour force of 101,040 people (2011 Census). Since 2006 the number of employed people increased by 9,264 people and the number of unemployed people decreased by 154 people.

 

 

 

  • Journey to work data shows that 3,650 people commute from Greater Melbourne to Geelong for work and 11,980 people travel the other way (an increase of 792 and 2,388 people respectively in the five years to 2011).
  • The City of Greater Geelong has a workforce of 79,156 people
    (workforce refers to people who work in Greater Geelong but could live anywhere). The workforce increased by 4,512 people or 6.0% between 2006 and 2011.
  • 85% of the City of Greater Geelong's workforce is sourced from the local labour force.
  • The following industry sectors employ 60.6% of the Greater Geelong's workforce: health care & social assistance (12,586 people); retail trade (11,355 people); manufacturing (10,154 people); education & training (8,482 people); and accommodation & food services (5,439 people).
  • The industry sectors in Greater Geelong with the largest jobs growth in the five years to 2011 include: Health Care & Social Assistance (+2,580 jobs or 25.8%); Education & Training (+1,151 jobs or 15.7%); and Financial & Insurance Services (+776 jobs or 49.0%).
  • Some of the industry sectors in Greater Geelong with fewer jobs in the five years to 2011 include: Manufacturing (-1,770 jobs); Administrative & Support Services (-271 jobs) and Wholesale Trade (-207 jobs).
  • There is an estimated 16,175 actively trading businesses in the City of Greater Geelong – 95.9% of these businesses are sole traders or employ less than 20 people.
  • Some of the major employers in the Barwon Region include: Barwon Health (3,842 Full-Time Equivalent Employees); Department of Education (2,975 FTE); Deakin University (Waurn Ponds and Waterfront Campuses – 1,693 FTE); City of Greater Geelong (1,418 FTE); Woolworths Supermarkets (1,213 FTE); Ford Motor Company of Australia (1,191 FTE); and Target (Head Office and Retail – 1,038).
  • The City of Greater Geelong's Gross Regional Product (GRP) reached $10.1 billion in 2012.
  • The largest contributors to GRP in Greater Geelong are: Manufacturing ($1.7b); Rental, Hiring & Real Estate Services ($1.2b); Health Care and Social Assistance ($929m); and Financial and Insurance Services ($773m).
  • Total trade through the Port of Geelong increased by 11.6% in 2011/12, up to 15.4 million tonnes. 865 vessels entered the Port during this period – a 20.1% increase.
  • Deakin University's course enrolments (Waurn Ponds and Waterfront campuses) increased by 3.9% in 2012, up to 16,360 enrolments - the highest figure on record.
  • The region attracted an estimated 6.4 million visitors in 2011/12 an increase of 1.6% compared to the previous year.
  • The population swells to an estimated 482,215 people on a peak holiday night (assuming all accommodation and holiday homes are full), an increase of 70% on the permanent population.

 

Information Icon

For major construction and investment news view Geelong CityScope on the City of Greater Geelong's website: www.geelongaustralia.com.au/business.

For monthly economic indicator updates visit: www.geelongaustralia.com.au/business/statistics.

KEY ECONOMIC INDICATORS

Financial Year Summary 2011/2012

Regional Indicator
2007/08
2008/09
2009/10
2010/11
2011/12
% Change
10/11-11/12
EMPLOYMENT INDICATORS
Australian Bureau of Statistics (ABS) - Barwon Western District (June)
Number Unemployed
No.
7,700
13,200
11,900
8,700
9,700
+11.5%
Unemployment Rate
%
3.8
6.5
6.1
4.1
4.4
+0.3pts
Unemployment Rate (Victoria)
%
4.4
5.9
5.3
4.5
5.3
+0.8pts
Department of Education, Employment and Workplace Relations (DEEWR)
Unemployment Rate - June Quarter
City of Greater Geelong
%
4.3
5.5
5.9
6.5
5.9
-0.6pts
Surf Coast Shire
"
2.2
3.1
3.2
3.2
3.3
+0.1pts
Borough of Queenscliffe
"
1.9
3.2
3.2
2.9
2.2
-0.7pts
Golden Plains Shire
"
2.3
3.6
4.1
4.5
3.9
-0.6pts
Colac Otway Shire
"
3.3
4.5
4.7
5.2
5.1
-0.1pts
Barwon Region
"
3.9
5.1
5.4
5.9
5.4
-0.5pts
Victoria
"
4.5
5.1
5.5
5.1
5.4
+0.3pts
Barwon Region - Job Advertisements
Geelong Advertiser
Ave. Weekly Job Advertisements
No.
243
169
168
176
154
-12.5%
Seek Limited (1)
Ave. New Monthly Job Advertisements
No.
-
-
-
695
697
+0.3%
Centrelink (2)
Unemployment Allowance
(at 30 June)
No.
6,569
8,312
8,835
8,466
9,314
+10.0%
VALUE OF BUILDING ACTIVITY - BARWON REGION
Domestic
New Dwellings
$ Million
$556.3
$469.3
$660.3
$719.4
$766.1
+6.5%
Other Domestic Permits
"
$127.5
$145.4
$166.9
$149.0
$301.8
+102.6%
Total Domestic
$683.8
$614.7
$827.2
$868.4
$1,067.9
+23.0%
Non-Domestic
Commercial, Industrial & Retail
"
$339.5
$208.8
$110.7
$148.9
$123.6
-17.0%
Health & Public Buildings
"
$111.6
$136.9
$312.5
$216.5
$181.4
-16.2%
Residential
"
N/A
N/A
N/A
$2.8
$41.3
+1,375.0%
Total Non-Domestic
"
$451.1
$345.7
$423.2
$368.2
$346.3
-5.9%
Total Building Activity
"
$1,134.9
$960.4
$1,250.4
$1,236.6
$1,414.2
+14.4%
NEW DWELLING APPROVALS
City of Greater Geelong
No.
1,611
1,291
2,092
1,846
1,885
+2.1%
Surf Coast Shire
"
541
372
437
474
350
-26.2%
Borough of Queenscliffe
"
66
49
40
26
29
+11.5%
Golden Plains Shire
"
139
168
204
212
219
+3.3%
Colac Otway Shire
"
148
185
173
235
108
-54.0%
Total Barwon Region
2,505
2,065
2,946
2,793
2,591
-7.2%
MEDIAN WEEKLY RENTAL VALUES (3 bedroom house - June Quarter)
City of Greater Geelong
$250
$265
$280
$310
$310
0.0%
Regional Victoria
$220
$230
$250
$210
$270
+28.6%
Melbourne (Metropolitan)
$280
$300
$330
$340
$340
0.0%
Victoria
$265
$295
$315
$330
$330
0.0%
MEDIAN HOUSE PRICES* (Valuer General)
(% Change 10/11)
City of Greater Geelong
$287,500
$305,000
$345,000
$360,000
-
+4.3%
Surf Coast Shire
$480,000
$488,000
$550,000
$577,500
-
+5.0%
Borough of Queenscliffe
$522,500
$595,000
$731,000
$610,000
-
-16.6%
Golden Plains Shire
$229,000
$277,000
$285,000
$294,500
-
+3.3%
Colac Otway Shire
$220,000
$233,000
$245,000
$240,000
-
-2.0%
Melbourne (Metropolitan)
$390,000
$420,000
$495,000
$490,000
-
-1.0%
Regional Victoria
$235,000
$243,000
$272,000
$280,000
-
+2.9%
Victoria
$336,000
$360,000
$420,000
$420,000
-
0.0%
ESTIMATED RESIDENT POPULATION as at 30 June (ABS) (3)
(% Change 10/11)
City of Greater Geelong
209,150
211,365
213,133
215,151
-
+0.9%
Surf Coast Shire
24,336
25,224
25,852
26,492
-
+2.5%
Borough of Queenscliffe
3,118
3,120
3,093
3,054
-
-1.3%
Golden Plains Shire
17,658
18,114
18,501
18,917
-
+2.2%
Colac Otway Shire
20,988
20,940
20,782
20,578
-
-1.0%
Barwon Region
275,277
278,763
281,361
284,193
-
+1.0%
DEMOGRAPHY (ABS)*
Births
(% Change 10/11)
City of Greater Geelong
2,680
2,532
2,549
2,546
-
-0.1%
Surf Coast Shire
317
304
347
320
-
-7.8%
Borough of Queenscliffe
23
20
22
18
-
-18.2%
Golden Plains Shire
218
233
213
210
-
-1.4%
Colac Otway Shire
275
258
235
266
-
+13.2%
Barwon Region
3,513
3,347
3,366
3,360
-
-0.2%
Deaths
City of Greater Geelong
1,804
1,682
1,762
1,870
-
+6.1%
Surf Coast Shire
140
144
162
139
-
-14.2%
Borough of Queenscliffe
39
46
43
30
-
-30.2%
Golden Plains Shire
73
77
86
91
-
+5.8%
Colac Otway Shire
211
179
207
232
-
+12.1%
Barwon Region
2,267
2,128
2,260
2,362
-
+4.5%
STUDENT ENROLMENTS*
Barwon South Western Region (4)
Primary
28,936
28,132
28,061
25,961
27,625
+6.4%
Primary/Secondary
9,935
10,987
9,394
13,372
10,460
-21.8%
Secondary
23,261
23,120
23,909
21,866
22,819
+4.4%
Barwon Region
The Gordon (TAFE) (5)
19,700
22,850
23,120
25,484
24,644
-3.3%
Deakin University (6)
14,123
14,310
14,786
15,749
16,360
+3.9%
Traineeships & Apprenticeships (as at 31 August)
7,617
7,585
7,737
8,517
8,891
+4.4%
NEW VEHICLE REGISTRATIONS (VicRoads)
Passenger Vehicles
13,514
13,029
13,804
14,659
14,679
+0.1%
Motor Cycles
1,518
1,443
1,285
1,142
1,179
+3.2%
Light Commercial Trucks
2,771
2,763
2,965
2,681
2,475
-7.7%
Total
17,803
17,235
18,054
18,482
18,333
-0.8%
PORT OF GEELONG
Imports
Million Tonnes
7.1
6.6
6.3
7.5
7.3
-2.7%
Exports
"
3.7
3.8
3.3
6.3
8.1
+28.6%
Total Trade
"
10.8
10.4
9.6
13.8
15.4
+11.6%
Vessels
No.
613
619
581
720
865
+20.1%
CONSUMER PRICE INDEX (7)
% Change Australia
3.4
3.1
2.4
3.1
2.4
-

Sources: City of Greater Geelong; Surf Coast Shire; Borough of Queenscliffe; Golden Plains Shire; Colac Otway Shire; Building Commission; Australian Bureau of Statistics: unpublished labour force data; Population by Age and Sex Catalogue No. 3235.0; Births Australia Catalogue No. 3301.0; Deaths Australia Catalogue No. 3302.0; and CPI Catalogue No. 6401.0; Department of Education, Employment and Workplace Relations, 'Small Area Labour Markets Australia'; Department of Human Services, Office of Housing; Geelong Advertiser; Seek Limited; Centrelink; VicRoads; Department of Education and Early Childhood Development; Deakin University; The Gordon; Skills Victoria; Department of Sustainability and Environment, Land Victoria; Geelong Port and GrainCorp.
(1) Data prior to 2010/11 has been removed due to Seek's expansion of the geographic classification of job ads from 'Geelong' to 'Geelong and Great Ocean Road'.
(2) Includes Newstart Allowance & Youth Allowance (other). Data supplied is point in time data.
(3) Preliminary rebased data based on the results of the 2011 Census.
(4) Data previously available for the Barwon Region is now only available for the broader Barwon South Western Region (whole of South West Victoria).
(5) 2012 data correct as at 30 September and 2011 data has been revised to finalised end of year data.
(6) 2012 data correct as at 27 August and data for 2008 - 2011 is finalised end of year data.
(7) Shows the percentage change on figures from the previous financial year for the weighted average of Australia's eight capital cities.
– Data not available. * Data refers to the calendar year, i.e. financial year 2010/2011 equates to calendar year 2011.