Bright is in the TOP 20% in VIC when comparing median price capital growth over the last year. Bright gave property investors a very good capital gain figure when compared to the rest of the state, with 10.38%.
Taking the average capital gain, or increase in median house value, Bright,3741 has racked up an average of 10.38% over the period. This ranks it number 259th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Bright 3741 should be seeing an average reduction in asking price of around -4.53% . This means that Bright is holding prices well when compared to other suburbs in VIC.
Using the current median advertised rental of $380 and the average annual increase in value of a median property of 8.65%, investors should hope to achieve an overall return of 3.35%
If you compare the increase in value of investment property in Bright, 3741 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 22.02%.
When looking at the potential capital gains offered to property investors over the last 3 years, Bright comes in at number 7th in VIC.
Our latest figures would indicate that property sellers in Bright are currently offering property investors an average price cut of -9.38% below the asking price at the moment.
Situated 214.16km from the CBD, Bright is one of Alpine (S) localities in the postcode 3741.
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Alpine suburb has strong potential
Median unit price: $355,000
Three-year growth: 45.5%
Rental yield: 3.4%
The suburb of Bright is nestled at the southeastern part of the Ovens Valley in northeast Victoria. Its unit market is affordable at a median price of under $360,000.
In addition to being low priced, Bright has maintained a consistent positive growth trend since 2013. In the three months to February 2018 alone, the suburb reported a price hike of 15.4% for apartments. Moreover, vendors get a good deal as the average discount rate is only 1.6%.
Tourism keeps Bright a bustling area, especially in the autumn. Paragliding and hang gliding are popular activities here, and the suburb also acts as a gateway to great views of the Victorian Alps. There are many national parks taking advantage of the suburb’s location.