Suburb Profile Report for Bell Park VIC (3215)

Bell Park House: Median price $360,000, Annual capital growth 4.59%, Number of sales 99, Weekly median advertised rent $300

Bell Park Unit: Median price $321,750, Annual capital growth 4.51%, Number of sales 25, Weekly median advertised rent $300

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Bell Park is in the bottom 40% in VIC when comparing median price capital growth over the last year. Bell Park gave property investors a disappointing capital gain figure when compared to the rest of the state, with 5.26%.

While Bell Park,3215 ranked number 494th in VIC for increase in median house value (annualised) increase, it is ranked 467th over the last 5 years.

Property investors looking for a bargain in Bell Park should be aiming for at least -4.91% off the asking price, which is the average vendor discount being achieved at the moment.

Bell Park is 204th on a list of best yielding suburbs for rents in VIC with a 4.33% return

With a capital gain of 10.85% for the last 12 months, Bell Park, 3215 has performed for property investments than its average annual 4.51% property growth over the last 5 years.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bell Park has increased when compared to the 5 year average annual rate.

Vendor discounting in Bell Park is giving property investors an average Vendor Discount of around -4.71%. This puts suburb at number 174th in VIC when ranking the most discounted suburbs.

In the last year 25 properties changed hands in Bell Park, which puts it as the 270th most active market in VIC when comparing the number of sales per suburb.

Using the current median advertised rental of $300 and the average annual increase in value of a median property of 4.51%, investors should hope to achieve an overall return of 4.85%

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Bell Park is 5km north of the Geelong CBD, and 60km west of the centre of Melbourne. It is situated within easy reach of the Geelong Ring Road which leads directly onto the Princes Freeway, and is just a few streets away from Norlane and North Geelong rail stations.Full summary

Bell Park is 5km north of the Geelong CBD, and 60km west of the centre of Melbourne. It is situated within easy reach of the Geelong Ring Road which leads directly onto the Princes Freeway, and is just a few streets away from Norlane and North Geelong rail stations.

It is within easy reach of a wide range of amenities, with three shopping strips in the suburb, and there are numerous schools in the area. It is also within easy reach of the beach.

Bell Park compares well to neighbouring suburbs: its median price is $5,000 less than neighbouring Bell Post Hill, and $10,000 more affordable than North Geelong. Average weekly incomes are marginally below the Victorian median, with a large proportion of families; residents have a wide range of occupations.

Like other northern Geelong suburbs, capital growth prospects are good due to Melbourne commuters choosing it as an affordable option compared to the state capital.

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Metrics i HOUSE UNIT
$360,000 $321,750
0.00% 1.66%
5.26% 10.85%
4.59% 4.51%
$300 $300
99 25
4.33% 4.85%
64.34 103.5

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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Demographics
Total population 5286
Median household income ($/weekly) 879
Median age of persons 41
Median housing loan repayment ($/monthly) 1400
Average household size 2.4
  • Census Count Percent(%)
    25-34 years 682 12.9
    35-44 years 666 12.6
    45-54 years 663 12.5
    55-64 years 567 10.7
    65-74 years 537 10.2
    Others 2171 41.1
    Age Group
    Census Count Percent(%)
    Not Married 1779 46.9
    Registered Married 1733 45.7
    Defacto Relationship 284 7.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 3248 65.6
    Bosnia and Herzegovina 112 2.3
    Egypt 415 8.4
    Japan 141 2.8
    Other 290 5.9
    Others 744 15.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 61 1.3
    Christianity 3882 80.1
    Islam 75 1.5
    Other Religious Groups 30 0.6
    No Religion 780 16.1
    Others 17 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 226 12.8
    $400-$599 258 14.6
    $600-$799 195 11.0
    $800-$999 171 9.7
    $1,500-$1,999 233 13.2
    Others 688 38.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1957 46.7
    Employed, worked full-time 1271 30.3
    Employed, worked part-time 637 15.2
    Employed, away from work 170 4.1
    Unemployed, looking for work 154 3.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 239 11.5
    Technicians & trades workers 390 18.7
    Clerical & administrative workers 268 12.9
    Machinery operators & drivers 223 10.7
    Labourers 334 16.0
    Others 627 30.1
    Occupation
    Census Count Percent(%)
    Pre-school 65 6.7
    Infants/Primary 345 35.6
    Secondary 263 27.1
    Technical or Further Educational Institution 113 11.6
    University or other Tertiary Institutions 148 15.3
    Others 36 3.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4266 91.0
    Flat, unit or apartment 348 7.4
    Semi-detached, row or terrace house, townhouse 73 1.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 784 41.1
    Being purchased 596 31.3
    Rented 514 27.0
    Other tenure type 12 0.6
    Tenure Type
Census 2011, ABS
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