Suburb Profile Report for Spring Gully VIC (3550)

Spring Gully House: Median price $370,000, Annual capital growth 4.92%, Number of sales 53, Weekly median advertised rent $305

Spring Gully Unit: Median price $275,000, Annual capital growth 8.04%, Number of sales 27, Weekly median advertised rent $260

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

Source: CoreLogic

  • House Report
  • Unit Report

With a capital gain of 6.94% for the last 12 months, Spring Gully, 3550 has performed for property investments than its average annual 4.92% property growth over the last 5 years.

A 18.12% growth in median value for property investors in Spring Gully,3550 puts this suburb at number 526th in terms of best performing suburbs in VIC

Spring Gully3550 is located in VIC which offers an average discount of -5.26% to property investors. Spring Gully itself is showing figures that indicate -4.35% is the average achievable by property buyers investing in the suburb.

With the median price for a house in Spring Gully being $370000 and the advertised rent reaching $305 the gross rental yield for property investors calculates out to be 4.29%

At number 89th in the list of Australian suburbs ordered by increase in median house value over the last year, Spring Gully, 3550 is in the top 10% with a property value increase of 25.00% recorded in median house prices.

Spring Gully,3550 was ranked 24 in Australia by increase in median property value over the quarter.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.68% offered to property buyers. Sellers in Spring Gully itself are offering an average vendor discount of -6.19% to real estate investors.

Often selling an investment property can take time, and in Spring Gully the average time real estate has been on the market is 120 days.

Situated 127.60km from the CBD, Spring Gully is one of Greater Bendigo localities in the postcode 3550.

Metrics i HOUSE UNIT
$370,000 $275,000
0.00% 19.57%
6.94% 25.00%
4.92% 8.04%
$305 $260
53 27
4.29% 4.92%
61.62 120

Source: CoreLogic

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