Suburb Profile Report for Spring Gully VIC (3550)

Spring Gully House: Median price $380,000, Annual capital growth 2.62%, Number of sales 48, Weekly median advertised rent $350

Spring Gully Unit: Median price $268,750, Annual capital growth 7.85%, Number of sales 32, Weekly median advertised rent $274

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

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Property value increases in Spring Gully have tracked lower than the VIC average of 4.41% over the last 12 months.

Spring Gully,3550 was ranked 3340 in Australia by increase in median property value over the quarter.

Spring Gully, 3550 is offering VIC ‘s 499th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this VIC.

Residents and property investors in Spring Gully have been waiting around 68.0488 days to sell a property.

A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.79%, without taking into account capital value appreciation, which has been averaging out at 2.62%.

Spring Gully, 3550 ranked 234th in VIC when comparing growth in median property values or capital gain over the last 12 months. Spring Gully is one of 2099 in our list for VIC

Taking the average capital gain, or increase in median house value, Spring Gully,3550 has racked up an average of 2.19% over the period. This ranks it number 650th in the whole country for real estate investors looking at median house price increases.

At number 643 in a list of fastest selling suburbs, Spring Gully is just in the top half of suburbs in Australia with an average of days on market 75.5 for properties listed there.

Advertised rents are around the $273.5 mark per week – giving a return of 5.29% based on the median price in Suburb

Metrics i HOUSE UNIT
$380,000 $268,750
-1.30% 2.19%
-3.80% 2.19%
2.62% 7.85%
$350 $274
48 32
4.79% 5.29%
68.0487804878049 75.5

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 2983
Median household income ($/weekly) 1055
Median age of persons 40
Median housing loan repayment ($/monthly) 1343
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 376 12.6
    25-34 years 312 10.5
    35-44 years 338 11.3
    45-54 years 429 14.4
    55-64 years 393 13.2
    Others 1134 38.0
    Age Group
    Census Count Percent(%)
    Registered Married 1094 49.2
    Not Married 985 44.3
    Defacto Relationship 144 6.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 2684 92.9
    Greece 12 0.4
    Papua New Guinea 20 0.7
    United Kingdom 84 2.9
    Other 11 0.4
    Others 77 2.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 26 0.9
    Christianity 1944 70.4
    Hinduism 11 0.4
    Islam 10 0.4
    No Religion 761 27.6
    Others 9 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 115 10.6
    $400-$599 130 12.0
    $600-$799 113 10.4
    $1,500-$1,999 109 10.0
    $2,000-$2,499 102 9.4
    Others 518 47.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 850 36.6
    Not in the labour force 838 36.1
    Employed, worked part-time 494 21.3
    Employed, away from work 81 3.5
    Unemployed, looking for work 59 2.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 168 11.8
    Professionals 380 26.7
    Technicians & trades workers 192 13.5
    Clerical & administrative workers 201 14.1
    Sales 165 11.6
    Others 319 22.4
    Occupation
    Census Count Percent(%)
    Pre-school 56 7.7
    Infants/Primary 238 32.6
    Secondary 213 29.1
    Technical or Further Educational Institution 65 8.9
    University or other Tertiary Institutions 145 19.8
    Others 14 1.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2508 88.2
    Flat, unit or apartment 264 9.3
    Semi-detached, row or terrace house, townhouse 73 2.6
    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 485 41.7
    Being purchased 397 34.1
    Rented 271 23.3
    Other tenure type 10 0.9
    Tenure Type
Census 2011, ABS
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