Suburb Profile Report for Spring Gully VIC (3550)

Spring Gully House: Median price $370,000, Annual capital growth 4.78%, Number of sales 51, Weekly median advertised rent $310

Spring Gully Unit: Median price $232,500, Annual capital growth 6.46%, Number of sales 27, Weekly median advertised rent $264

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Spring Gully has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.56%

Across a shorter period, Spring Gully, 3550 has seen a median price increase of 0.82% over the last quarter.

At number 407th of VIC’s most discounted properties, Spring Gully is in the TOP 40% of the state/territory when listing in order of most discounted to least.

Residents and property investors in Spring Gully have been waiting around 58.55 days to sell a property.

Spring Gully is 183th on a list of best yielding suburbs for rents in VIC with a 4.36% return

Property value increases in Spring Gully have tracked lower than the VIC average of 4.79% over the last 12 months.

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

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 -5.99% is being offered, which puts this VIC suburb at 459th most discounted overall in Australia.

Property investors should expect to get $264 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$370,000 $232,500
0.82% -7.00%
7.56% -4.12%
4.78% 6.46%
$310 $264
51 27
4.36% 5.90%
58.55 130.35

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
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Recent sales & rentals