Suburb Profile Report for Bell Park VIC (3215)

Bell Park House: Median price $361,000, Annual capital growth 4.51%, Number of sales 108, Weekly median advertised rent $310

Bell Park Unit: Median price $320,000, Annual capital growth 4.47%, Number of sales 23, Weekly median advertised rent $310

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

VIC has seen average median house prices change by 8.96% which means that Bell Park, 3215 has done well for property investors by showing a capital gain of 3.14% over the last year

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.

Our latest figures would indicate that property sellers in Bell Park are currently offering property investors an average price cut of -4.94% below the asking price at the moment.

With the median price for a house in Bell Park being $361000 and the advertised rent reaching $310 the gross rental yield for property investors calculates out to be 4.47%

Investment property in Bell Park has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.68%

The five-year average increase in median property values for Bell Park,3215 has given property investors a potential capital gain of 17.22% across each of those five years.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.07% offered to property buyers. Sellers in Bell Park itself are offering an average vendor discount of -4.71% to real estate investors.

Often selling an investment property can take time, and in Bell Park the average time real estate has been on the market is 103.8 days.

Using the current median advertised rental of $310 and the average annual increase in value of a median property of 4.47%, investors should hope to achieve an overall return of 5.04%

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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
$361,000 $320,000
0.28% 1.11%
3.14% 9.68%
4.51% 4.47%
$310 $310
108 23
4.47% 5.04%
65.65 103.8

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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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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Recent sales & rentals