Suburb Profile Report for Flora Hill VIC (3550)

Flora Hill House: Median price $345,000, Annual capital growth 4.04%, Number of sales 92, Weekly median advertised rent $320

Flora Hill Unit: Median price $242,500, Annual capital growth 3.51%, Number of sales 20, Weekly median advertised rent $250

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

Over the last year, property investments in Flora Hill, 3550 have given investors a capital gain of 5.75%. This compares averagely with the 7.88% for VIC as a whole.

If we look at median property appreciation over just the last three months, Flora Hill has given property investors a paper return of 1.79%. This puts Suburb as 250 on a list of fastest fasting appreciating suburbs in VIC

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Flora Hill, 3550. Typically our figures indicate that -4.88% is being offered, which puts this VIC suburb at 2672th most discounted overall in Australia.

At number 1545 in a list of fastest selling suburbs, Flora Hill is just in the top half of suburbs in Australia with an average of days on market 66.62 for properties listed there.

Advertised rents are around the $320 mark per week – giving a return of 4.82% based on the median price in Suburb

With a capital gain of -3.00% for the last 12 months, Flora Hill, 3550 has performed for property investments than its average annual 3.51% property growth over the last 5 years.

While Flora Hill,3550 ranked number 48th in VIC for increase in median house value (annualised) increase, it is ranked 306th over the last 5 years.

Property investors looking for a bargain in Flora Hill should be aiming for at least -5.93% off the asking price, which is the average vendor discount being achieved at the moment.

Residents and property investors in Flora Hill have been waiting around 98.58 days to sell a property.

Flora Hill, 3550’s gross rental yield is 5.36%

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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
$345,000 $242,500
1.79% 4.75%
5.75% -3.00%
4.04% 3.51%
$320 $250
92 20
4.82% 5.36%
66.62 98.58

Source: CoreLogic

DSR Score for property investment : Above average (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