Suburb Profile Report for Bright VIC (3741)

Bright House: Median price $391,500, Annual capital growth 4.98%, Number of sales 47, Weekly median advertised rent $283

Bright Unit: Median price $277,000, Annual capital growth 4.14%, Number of sales 32, Weekly median advertised rent $230

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

Source: CoreLogic

  • House Report
  • Unit Report

Bright is in the bottom 20% in VIC when comparing median price capital growth over the last year. Bright gave property investors a dismal capital gain figure when compared to the rest of the state, with -0.25%.

Taking the average capital gain, or increase in median house value, Bright,3741 has racked up an average of -0.25% over the period. This ranks it number 3044th in the whole country for real estate investors looking at median house price increases.

Sellers are offering property buyers an average discount of -3.49% to buyers in Bright at the moment, which is less than average for the rest of VIC.

Using the current median advertised rental of $282.5 and the average annual increase in value of a median property of 4.98%, investors should hope to achieve an overall return of 3.75%

If you compare the increase in value of investment property in Bright, 3741 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was 0.73%.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bright has increased when compared to the 5 year average annual rate.

Sellers are offering property buyers an average discount of -7.22% to buyers in Bright at the moment, which is less than average for the rest of VIC.

The VIC suburb of Bright, 3741 is in the Alpine local government area.

HOUSE UNIT
$391,500 $277,000
-8.95% -1.42%
-0.25% 0.73%
4.98% 4.14%
$283 $230
47 32
3.75% 4.32%
100.42 111.57

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Bright VIC
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
Chart Table
Recent sales & rentals