Suburb Profile Report for Bright VIC (3741)

Bright House: Median price $445,000, Annual capital growth 7.17%, Number of sales 58, Weekly median advertised rent $305

Bright Unit: Median price $273,000, Annual capital growth 4.17%, Number of sales 22, Weekly median advertised rent $205

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 2236th in the list of Australian suburbs ordered by increase in median house value over the last year, Bright, 3741 is in the BOTTOM 50% with a property value increase of 4.71% recorded in median house prices.

If we look at median property appreciation over just the last three months, Bright has given property investors a paper return of 2.89%. This puts Suburb as 319 on a list of fastest fasting appreciating suburbs in VIC

At number 528th of VIC’s most discounted properties, Bright is in the TOP 20% of the state/territory when listing in order of most discounted to least.

On average over the past year, suburb has had 4.83 sales per month, which equates to 58 per year.

Property investors should expect to get $305 weekly from the median priced house in this suburb.

Property investors who have had real estate in Bright, 3741 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -1.09%

Property investors looking for a bargain in Bright should be aiming for at least -3.31% off the asking price, which is the average vendor discount being achieved at the moment.

Often selling an investment property can take time, and in Bright the average time real estate has been on the market is 90.36 days.

With the median price for a house in Bright being $273000 and the advertised rent reaching $205 the gross rental yield for property investors calculates out to be 3.90%

Metrics i HOUSE UNIT
$445,000 $273,000
2.89% 0.55%
4.71% -1.09%
7.17% 4.17%
$305 $205
58 22
3.56% 3.90%
86.1 90.36

Source: CoreLogic

DSR Score for property investment : Good (U), Above average (H)
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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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