Suburb Profile Report for Flora Hill VIC (3550)

Flora Hill House: Median price $350,750, Annual capital growth 4.63%, Number of sales 75, Weekly median advertised rent $308

Flora Hill Unit: Median price $228,500, Annual capital growth 2.41%, Number of sales 18, Weekly median advertised rent $260

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

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

Flora Hill has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 4.70% to date .

Taking the average capital gain, or increase in median house value, Flora Hill,3550 has racked up an average of 4.70% over the period. This ranks it number 2198th in the whole country for real estate investors looking at median house price increases.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.14% offered to property buyers. Sellers in Flora Hill itself are offering an average vendor discount of -4.90% to real estate investors.

Flora Hill, 3550’s gross rental yield is 4.56%

Giving property investors a an unimpressive capital gain of -4.39% for the last year, Flora Hill, 3550 is the 1002th highest performer in Australia in this respect.

Over the longer term, Flora Hill has seen property prices show investors a -8.60% return over the last 3 years. This is an improvement over the last 12 months

Our latest figures would indicate that property sellers in Flora Hill are currently offering property investors an average price cut of -8.27% below the asking price at the moment.

Residents and property investors in Flora Hill have been waiting around 124.8 days to sell a property.

With the median price for a house in Flora Hill being $228500 and the advertised rent reaching $260 the gross rental yield for property investors calculates out to be 5.92%

Information supplied by:


September 2018

M
O

W
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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.

Metrics i HOUSE UNIT
$350,750 $228,500
3.05% 1.22%
4.70% -4.39%
4.63% 2.41%
$308 $260
75 18
4.56% 5.92%
54.964287 124.8

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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
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