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