Suburb Profile Report for Bright VIC (3741)

Bright House: Median price $390,000, Annual capital growth 4.84%, Number of sales 47, Weekly median advertised rent $295

Bright Unit: Median price $277,000, Annual capital growth 4.19%, Number of sales 25, Weekly median advertised rent $215

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 2786th in the list of Australian suburbs ordered by increase in median house value over the last year, Bright, 3741 is in the BOTTOM 40% with a property value increase of 0.00% recorded in median house prices.

Bright,3741 was ranked 3921 in Australia by increase in median property value over the quarter.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Bright itself are offering an average vendor discount of -4.09% to real estate investors.

A $295 per week rent on the median house gives suburb investors a gross yield of circa 3.93%, without taking into account capital value appreciation, which has been averaging out at 4.84%.

Investment property in Bright 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 -2.81%

When looking at the potential capital gains offered to property investors over the last 3 years, Bright comes in at number 80th in VIC.

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 Bright, 3741. Typically our figures indicate that -8.28% is being offered, which puts this VIC suburb at 137th most discounted overall in Australia.

Bright, 3741’s gross rental yield is 4.04%

HOUSE UNIT
$390,000 $277,000
-8.24% N/A
0.00% -2.81%
4.84% 4.19%
$295 $215
47 25
3.93% 4.04%
101.62 121

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (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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Recent sales & rentals