Suburb Profile Report for Bright VIC (3741)

Bright House: Median price $431,750, Annual capital growth 5.99%, Number of sales 56, Weekly median advertised rent $298

Bright Unit: Median price $290,000, Annual capital growth 4.19%, Number of sales 21, Weekly median advertised rent $200

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

Source: CoreLogic

  • House Report
  • Unit Report

Property investors who have had real estate in Bright, 3741 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 12.14%

While Bright,3741 ranked number 73th in VIC for increase in median house value (annualised) increase, it is ranked 367th over the last 5 years.

Vendor discounting in Bright is giving property investors an average Vendor Discount of around -3.63%. This puts suburb at number 532th in VIC when ranking the most discounted suburbs.

In the last year 56 properties changed hands in Bright, which puts it as the 399th most active market in VIC when comparing the number of sales per suburb.

Property investors should expect to get $297.5 weekly from the median priced house in this suburb.

Bright, 3741 ranked 153th in VIC when comparing growth in median property values or capital gain over the last 12 months. Bright is one of 2098 in our list for VIC

When looking at the potential capital gains offered to property investors over the last 3 years, Bright comes in at number 22th in VIC.

LACK OF BUYER INTEREST may well be the reason that Bright is offering property investors an average of -5.13. This rate of discount on properties puts Suburb at number 258th in terms of most discounted suburbs in VIC

A $200 per week rent on the median house gives suburb investors a gross yield of circa 3.59%, without taking into account capital value appreciation, which has been averaging out at 4.19%.

Metrics i HOUSE UNIT
$431,750 $290,000
5.95% 6.23%
12.14% 5.07%
5.99% 4.19%
$298 $200
56 21
3.58% 3.59%
84.45 82.89

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 2165
Median household income ($/weekly) 781
Median age of persons 51
Median housing loan repayment ($/monthly) 1300
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 218 10.1
    35-44 years 247 11.4
    45-54 years 316 14.6
    55-64 years 363 16.8
    65-74 years 339 15.7
    Others 682 31.5
    Age Group
    Census Count Percent(%)
    Registered Married 818 52.5
    Not Married 587 37.7
    Defacto Relationship 152 9.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 1681 81.6
    Greece 35 1.7
    Papua New Guinea 26 1.3
    United Kingdom 156 7.6
    Other 42 2.0
    Others 119 5.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 32 1.7
    Christianity 1211 63.1
    Hinduism 4 0.2
    Other Religious Groups 4 0.2
    No Religion 662 34.5
    Others 6 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 96 12.0
    $400-$599 139 17.4
    $600-$799 114 14.3
    $800-$999 98 12.3
    $1,000-$1,249 78 9.8
    Others 274 34.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 814 46.9
    Employed, worked full-time 471 27.2
    Employed, worked part-time 352 20.3
    Employed, away from work 59 3.4
    Unemployed, looking for work 38 2.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 164 18.5
    Professionals 144 16.3
    Technicians & trades workers 139 15.7
    Sales 104 11.7
    Labourers 106 12.0
    Others 229 25.8
    Occupation
    Census Count Percent(%)
    Pre-school 34 9.5
    Infants/Primary 136 38.1
    Secondary 124 34.7
    Technical or Further Educational Institution 34 9.5
    University or other Tertiary Institutions 19 5.3
    Others 10 2.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1672 87.1
    Semi-detached, row or terrace house, townhouse 126 6.6
    Flat, unit or apartment 96 5.0
    Caravan, cabin, houseboat 17 0.9
    House or flat attached to a shop, office 9 0.5
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 401 46.0
    Rented 248 28.4
    Being purchased 215 24.7
    Other tenure type 8 0.9
    Tenure Type
Census 2011, ABS
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