Suburb Profile Report for Spring Gully VIC (3550)

Spring Gully House: Median price $385,000, Annual capital growth 3.61%, Number of sales 51, Weekly median advertised rent $360

Spring Gully Unit: Median price $313,500, Annual capital growth 7.89%, Number of sales 19, Weekly median advertised rent $272

  • 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.

  • House Report
  • Unit Report

VIC has seen average median house prices change by -1.79% which means that Spring Gully, 3550 has not done well for property investors by showing a capital gain of -8.33% over the last year

If we look at median property appreciation over just the last three months, Spring Gully has given property investors a paper return of -3.74%. This puts Suburb as 618 on a list of fastest fasting appreciating suburbs in VIC

Vendor discounting in Spring Gully is giving property investors an average Vendor Discount of around -5.80%. This puts suburb at number 418th in VIC when ranking the most discounted suburbs.

Spring Gully, 3550’s gross rental yield is 4.86%

Property investors who have had real estate in Spring Gully, 3550 should be relatively 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 2.79%

While Spring Gully,3550 ranked number 18th in VIC for increase in median house value (annualised) increase, it is ranked 155th over the last 5 years.

At number 598 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 77 for properties listed there.

The VIC suburb of Spring Gully, 3550 is in the Greater Bendigo (C) local government area.

Metrics i HOUSE UNIT
$385,000 $313,500
-3.74% 11.96%
-8.33% 2.79%
3.61% 7.89%
$360 $272
51 19
4.86% 4.51%
85.9545454545455 77

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 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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