Suburb Profile Report for Flora Hill VIC (3550)

Flora Hill House: Median price $340,934, Annual capital growth 3.92%, Number of sales 82, Weekly median advertised rent $300

Flora Hill Unit: Median price $240,000, Annual capital growth 3.66%, Number of sales 15, Weekly median advertised rent $260

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

Investment property in Flora Hill has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.85%

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

Property investors looking for a bargain in Flora Hill should be aiming for at least -4.84% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 82 properties changed hands in Flora Hill, which puts it as the 321th most active market in VIC when comparing the number of sales per suburb.

Flora Hill, 3550’s gross rental yield is 4.58%

VIC has seen average median house prices change by 3.42% which means that Flora Hill, 3550 has done well for property investors by showing a capital gain of -4.00% over the last year

Over the longer term, Flora Hill has seen property prices show investors a 6.67% return over the last 3 years. This is worse than over the last 12 months

Property buyers and investors in Flora Hill 3550 should be seeing an average reduction in asking price of around -12.54% . This means that Flora Hill is holding prices well when compared to other suburbs in VIC.

On average over the past year, suburb has had 1.25 sales per month, which equates to 15 per year.

Advertised rents are around the $260 mark per week – giving a return of 5.63% based on the median price in Suburb

Information supplied by:


September 2018

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The suburb of Flora Hill in the area of Bendigo, Victoria is picking up in the rental marketFull summary

Significant fall in vacancy rate

Postcode: 3550

Median house price: $335,000

Vacancy rate: 5.1%

Three-year growth: 0.6%

The suburb of Flora Hill in the area of Bendigo, Victoria is picking up in the rental market.

The average vacancy rate dropped from a high 8.9% to 5.1% over the June 2017-2018 period in this low-priced suburb, where houses record a median value of less than $350,000. Flora Hill’s house market has maintained a steady if unremarkable trend of positive growth in the past five years, with prices only falling by 0.3% in the three months to June 2018. Rents are reasonably affordable as well at a weekly rate of $310, and landlords can reap returns of 4.8%.

Bendigo South East College and the Bendigo campus of La Trobe University both call Flora Hill home. Less than 10 minutes’ drive away is the city of Bendigo, the biggest finance district in Victoria aside from Melbourne.

Close
Metrics i HOUSE UNIT
$340,934 $240,000
-0.31% -1.03%
2.85% -4.00%
3.92% 3.66%
$300 $260
82 15
4.58% 5.63%
41.85 117

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 3865
Median household income ($/weekly) 897
Median age of persons 28
Median housing loan repayment ($/monthly) 1300
Average household size 2.3
  • Census Count Percent(%)
    15-19 years 459 11.9
    20-24 years 678 17.5
    25-34 years 544 14.1
    35-44 years 414 10.7
    45-54 years 383 9.9
    Others 1388 35.9
    Age Group
    Census Count Percent(%)
    Not Married 1483 56.5
    Registered Married 890 33.9
    Defacto Relationship 251 9.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 3332 90.8
    Indonesia 27 0.7
    Malta 25 0.7
    United Kingdom 72 2.0
    Other 64 1.7
    Others 151 4.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 51 1.5
    Christianity 2154 62.1
    Hinduism 23 0.7
    Islam 33 1.0
    No Religion 1183 34.1
    Others 25 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 182 14.0
    $600-$799 168 13.0
    $800-$999 135 10.4
    $1,000-$1,249 136 10.5
    $1,500-$1,999 144 11.1
    Others 532 41.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1172 37.4
    Employed, worked full-time 935 29.9
    Employed, worked part-time 745 23.8
    Unemployed, looking for work 145 4.6
    Employed, away from work 133 4.2
    Person Characteristics
  • Census Count Percent(%)
    Professionals 409 22.6
    Technicians & trades workers 224 12.4
    Community & personal service workers 266 14.7
    Sales 245 13.5
    Labourers 230 12.7
    Others 438 24.2
    Occupation
    Census Count Percent(%)
    Pre-school 48 3.6
    Infants/Primary 226 16.7
    Secondary 184 13.6
    Technical or Further Educational Institution 102 7.5
    University or other Tertiary Institutions 761 56.3
    Others 30 2.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2737 83.3
    Flat, unit or apartment 317 9.6
    Semi-detached, row or terrace house, townhouse 232 7.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 675 47.6
    Being purchased 369 26.0
    Fully owned 362 25.5
    Other tenure type 11 0.8
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals