Investment property in Spring Gully has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -0.86%
Taking the average capital gain, or increase in median house value, Spring Gully,3550 has racked up an average of -0.86% over the period. This ranks it number 3077th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Spring Gully 3550 should be seeing an average reduction in asking price of around -5.79% . This means that Spring Gully is holding prices well when compared to other suburbs in VIC.
At number 2262 in a list of fastest selling suburbs, Spring Gully is in the bottom 40% of suburbs in Australia with an average of days on market 91.16 for properties listed there.
Over the last year, property investments in Spring Gully, 3550 have given investors a capital gain of 7.32%. This compares favourably with the 3.19% for VIC as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Spring Gully comes in at number 254th in VIC.
The most recent median price for Spring Gully is $220000, with sellers offering an average of -5.26% off the asking price.
A $250 per week rent on the median house gives suburb investors a gross yield of circa 5.91%, without taking into account capital value appreciation, which has been averaging out at 5.95%.