Suburb Profile Report for Spring Gully VIC (3550)

Spring Gully House: Median price $370,000, Annual capital growth 4.55%, Number of sales 44, Weekly median advertised rent $310

Spring Gully Unit: Median price $222,500, Annual capital growth 6.97%, Number of sales 25, Weekly median advertised rent $260

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

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Spring Gully, 3550 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 6.47%.

The five-year average increase in median property values for Spring Gully,3550 has given property investors a potential capital gain of 19.35% across each of those five years.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Spring Gully, 3550. Typically our figures indicate that -3.54% is being offered, which puts this VIC suburb at 3316th most discounted overall in Australia.

Property investors who have had real estate in Spring Gully, 3550 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -2.20%

A -7.29% growth in median value for property investors in Spring Gully,3550 puts this suburb at number 350th in terms of best performing suburbs in VIC

LACK OF BUYER INTEREST may well be the reason that Spring Gully is offering property investors an average of -4.95. This rate of discount on properties puts Suburb at number 58th in terms of most discounted suburbs in VIC

Using the current median advertised rental of $260 and the average annual increase in value of a median property of 6.97%, investors should hope to achieve an overall return of 6.08%

Metrics i HOUSE UNIT
$370,000 $222,500
1.93% -11.00%
6.47% -2.20%
4.55% 6.97%
$310 $260
44 25
4.36% 6.08%
44.75 165.18

Source: CoreLogic

DSR Score for property investment : Above average (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
Chart Table
Recent sales & rentals