Suburb Profile Report for Spring Gully VIC (3550)

Spring Gully House: Median price $345,000, Annual capital growth 3.69%, Number of sales 39, Weekly median advertised rent $320

Spring Gully Unit: Median price $220,000, Annual capital growth 5.53%, Number of sales 23, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report

Spring Gully, 3550 ranked 596th in VIC when comparing growth in median property values or capital gain over the last 12 months. Spring Gully is one of 2098 in our list for VIC

If we look at median property appreciation over just the last three months, Spring Gully has given property investors a paper return of -0.58%. This puts Suburb as 562 on a list of fastest fasting appreciating suburbs in VIC

Vendor discounting in Spring Gully is giving property investors an average Vendor Discount of around -5.20%. This puts suburb at number 350th in VIC when ranking the most discounted suburbs.

Often selling an investment property can take time, and in Spring Gully the average time real estate has been on the market is 62.48 days.

With the median price for a house in Spring Gully being $345000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.82%

Spring Gully is an average performer in VIC when comparing median price capital growth over the last year. Spring Gully gave property investors a average capital gain figure when compared to the rest of the state, with 3.53%.

When looking at the potential capital gains offered to property investors over the last 3 years, Spring Gully comes in at number 282th in VIC.

Vendor discounting in Spring Gully is giving property investors an average Vendor Discount of around -5.86%. This puts suburb at number 93th in VIC when ranking the most discounted suburbs.

In the last year 23 properties changed hands in Spring Gully, which puts it as the 278th most active market in VIC when comparing the number of sales per suburb.

Metrics i HOUSE UNIT
$345,000 $220,000
-0.58% -3.30%
-1.08% 3.53%
3.69% 5.53%
$320 $250
39 23
4.82% 5.91%
62.48 184.36

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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Demographics
Total population 2983
Median household income ($/weekly) 1055
Median age of persons 40
Median housing loan repayment ($/monthly) 1343
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 376 12.6
    25-34 years 312 10.5
    35-44 years 338 11.3
    45-54 years 429 14.4
    55-64 years 393 13.2
    Others 1134 38.0
    Age Group
    Census Count Percent(%)
    Registered Married 1094 49.2
    Not Married 985 44.3
    Defacto Relationship 144 6.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 2684 92.9
    Greece 12 0.4
    Papua New Guinea 20 0.7
    United Kingdom 84 2.9
    Other 11 0.4
    Others 77 2.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 26 0.9
    Christianity 1944 70.4
    Hinduism 11 0.4
    Islam 10 0.4
    No Religion 761 27.6
    Others 9 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 115 10.6
    $400-$599 130 12.0
    $600-$799 113 10.4
    $1,500-$1,999 109 10.0
    $2,000-$2,499 102 9.4
    Others 518 47.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 850 36.6
    Not in the labour force 838 36.1
    Employed, worked part-time 494 21.3
    Employed, away from work 81 3.5
    Unemployed, looking for work 59 2.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 168 11.8
    Professionals 380 26.7
    Technicians & trades workers 192 13.5
    Clerical & administrative workers 201 14.1
    Sales 165 11.6
    Others 319 22.4
    Occupation
    Census Count Percent(%)
    Pre-school 56 7.7
    Infants/Primary 238 32.6
    Secondary 213 29.1
    Technical or Further Educational Institution 65 8.9
    University or other Tertiary Institutions 145 19.8
    Others 14 1.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2508 88.2
    Flat, unit or apartment 264 9.3
    Semi-detached, row or terrace house, townhouse 73 2.6
    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 485 41.7
    Being purchased 397 34.1
    Rented 271 23.3
    Other tenure type 10 0.9
    Tenure Type
Census 2011, ABS
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