Suburb Profile Report for Bell Park VIC (3215)

Bell Park House: Median price $473,528, Annual capital growth 7.14%, Number of sales 74, Weekly median advertised rent $360

Bell Park Unit: Median price $410,000, Annual capital growth 5.49%, Number of sales 25, Weekly median advertised rent $345

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

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

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  • House Report
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Property investors who have had real estate in Bell Park, 3215 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 8.86%

A 46.83% growth in median value for property investors in Bell Park,3215 puts this suburb at number 72th in terms of best performing suburbs in VIC

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.90% offered to property buyers. Sellers in Bell Park itself are offering an average vendor discount of -5.07% to real estate investors.

On average over the past year, suburb has had 6.17 sales per month, which equates to 74 per year.

With the median price for a house in Bell Park being $473528 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 3.95%

Property investors who have had real estate in Bell Park, 3215 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 13.89%

A 23.31% growth in median value for property investors in Bell Park,3215 puts this suburb at number 140th in terms of best performing suburbs in VIC

LACK OF BUYER INTEREST may well be the reason that Bell Park is offering property investors an average of -6.31. This rate of discount on properties puts Suburb at number 215th in terms of most discounted suburbs in VIC

At number 105 in a list of fastest selling suburbs, Bell Park is in the TOP 10% of suburbs in Australia with an average of days on market 51.5833 for properties listed there.

A $345 per week rent on the median house gives suburb investors a gross yield of circa 4.38%, without taking into account capital value appreciation, which has been averaging out at 5.49%.

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Bell Park is 5km north of the Geelong CBD, and 60km west of the centre of Melbourne. It is situated within easy reach of the Geelong Ring Road which leads directly onto the Princes Freeway, and is just a few streets away from Norlane and North Geelong rail stations.

It is within easy reach of a wide range of amenities, with three shopping strips in the suburb, and there are numerous schools in the area. It is also within easy reach of the beach.

Bell Park compares well to neighbouring suburbs: its median price is $5,000 less than neighbouring Bell Post Hill, and $10,000 more affordable than North Geelong. Average weekly incomes are marginally below the Victorian median, with a large proportion of families; residents have a wide range of occupations.

Like other northern Geelong suburbs, capital growth prospects are good due to Melbourne commuters choosing it as an affordable option compared to the state capital.

Metrics i HOUSE UNIT
$473,528 $410,000
4.07% 1.23%
8.86% 13.89%
7.14% 5.49%
$360 $345
74 25
3.95% 4.38%
43.6071428571429 51.5833333333333

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

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 5286
Median household income ($/weekly) 879
Median age of persons 41
Median housing loan repayment ($/monthly) 1400
Average household size 2.4
  • Census Count Percent(%)
    25-34 years 682 12.9
    35-44 years 666 12.6
    45-54 years 663 12.5
    55-64 years 567 10.7
    65-74 years 537 10.2
    Others 2171 41.1
    Age Group
    Census Count Percent(%)
    Not Married 1779 46.9
    Registered Married 1733 45.7
    Defacto Relationship 284 7.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 3248 65.6
    Bosnia and Herzegovina 112 2.3
    Egypt 415 8.4
    Japan 141 2.8
    Other 290 5.9
    Others 744 15.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 61 1.3
    Christianity 3882 80.1
    Islam 75 1.5
    Other Religious Groups 30 0.6
    No Religion 780 16.1
    Others 17 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 226 12.8
    $400-$599 258 14.6
    $600-$799 195 11.0
    $800-$999 171 9.7
    $1,500-$1,999 233 13.2
    Others 688 38.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1957 46.7
    Employed, worked full-time 1271 30.3
    Employed, worked part-time 637 15.2
    Employed, away from work 170 4.1
    Unemployed, looking for work 154 3.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 239 11.5
    Technicians & trades workers 390 18.7
    Clerical & administrative workers 268 12.9
    Machinery operators & drivers 223 10.7
    Labourers 334 16.0
    Others 627 30.1
    Occupation
    Census Count Percent(%)
    Pre-school 65 6.7
    Infants/Primary 345 35.6
    Secondary 263 27.1
    Technical or Further Educational Institution 113 11.6
    University or other Tertiary Institutions 148 15.3
    Others 36 3.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4266 91.0
    Flat, unit or apartment 348 7.4
    Semi-detached, row or terrace house, townhouse 73 1.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 784 41.1
    Being purchased 596 31.3
    Rented 514 27.0
    Other tenure type 12 0.6
    Tenure Type
Census 2011, ABS
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