Bright has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.69% to date .
While Bright,3741 ranked number 312th in VIC for increase in median house value (annualised) increase, it is ranked 24th over the last 5 years.
At number 522th of VIC’s most discounted properties, Bright is in the TOP 10% of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Bright the average time real estate has been on the market is 83.641 days.
Bright is 336th on a list of best yielding suburbs for rents in VIC with a 3.36% return
Bright has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 32.28% to date .
If we look at median property appreciation over just the last three months, Bright has given property investors a paper return of 0.88%. This puts Suburb as 194 on a list of fastest fasting appreciating suburbs in VIC
Bright, 3741 is offering VIC ‘s 7th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this VIC.
Using the current median advertised rental of $320 and the average annual increase in value of a median property of 7.38%, investors should hope to achieve an overall return of 3.63%
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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.