Suburb Profile Report for Spring Gully VIC (3550)

Spring Gully House: Median price $366,000, Annual capital growth 4.52%, Number of sales 41, Weekly median advertised rent $315

Spring Gully Unit: Median price $235,000, Annual capital growth 7.49%, 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

Giving property investors a an average capital gain of 4.95% for the last year, Spring Gully, 3550 is the 2199th highest performer in Australia in this respect.

Spring Gully,3550 was ranked 1392 in Australia by increase in median property value over the quarter.

Property buyers and investors in Spring Gully 3550 should be seeing an average reduction in asking price of around -3.69% . This means that Spring Gully is holding prices well when compared to other suburbs in VIC.

Often selling an investment property can take time, and in Spring Gully the average time real estate has been on the market is 47.4 days.

Spring Gully, 3550’s gross rental yield is 4.48%

Spring Gully has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 0.00% to date .

Spring Gully,3550 has offered an average of 0.00% return per annum in house price rises to property investors over the last three years.

Our latest figures would indicate that property sellers in Spring Gully are currently offering property investors an average price cut of -6.24% below the asking price at the moment.

With the median price for a house in Spring Gully being $235000 and the advertised rent reaching $260 the gross rental yield for property investors calculates out to be 5.75%

Metrics i HOUSE UNIT
$366,000 $235,000
3.10% 6.82%
4.95% 0.00%
4.52% 7.49%
$315 $260
41 25
4.48% 5.75%
47.4 165.18

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