Suburb Profile Report for Bright VIC (3741)

Bright House: Median price $580,000, Annual capital growth 7.13%, Number of sales 44, Weekly median advertised rent $375

Bright Unit: Median price $459,000, Annual capital growth 7.38%, Number of sales 18, Weekly median advertised rent $320

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

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

  • Expert Report
  • House Report
  • Unit Report

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%

Information supplied by:


May 2018

M
O

W
E

Alpine suburb has strong potential

Postcode: 3741

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. 

Metrics i HOUSE UNIT
$580,000 $459,000
1.75% 0.88%
-1.69% 32.28%
7.13% 7.38%
$375 $320
44 18
3.36% 3.63%
83.6410256410257 104.066666666667

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

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 2165
Median household income ($/weekly) 781
Median age of persons 51
Median housing loan repayment ($/monthly) 1300
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 218 10.1
    35-44 years 247 11.4
    45-54 years 316 14.6
    55-64 years 363 16.8
    65-74 years 339 15.7
    Others 682 31.5
    Age Group
    Census Count Percent(%)
    Registered Married 818 52.5
    Not Married 587 37.7
    Defacto Relationship 152 9.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 1681 81.6
    Greece 35 1.7
    Papua New Guinea 26 1.3
    United Kingdom 156 7.6
    Other 42 2.0
    Others 119 5.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 32 1.7
    Christianity 1211 63.1
    Hinduism 4 0.2
    Other Religious Groups 4 0.2
    No Religion 662 34.5
    Others 6 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 96 12.0
    $400-$599 139 17.4
    $600-$799 114 14.3
    $800-$999 98 12.3
    $1,000-$1,249 78 9.8
    Others 274 34.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 814 46.9
    Employed, worked full-time 471 27.2
    Employed, worked part-time 352 20.3
    Employed, away from work 59 3.4
    Unemployed, looking for work 38 2.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 164 18.5
    Professionals 144 16.3
    Technicians & trades workers 139 15.7
    Sales 104 11.7
    Labourers 106 12.0
    Others 229 25.8
    Occupation
    Census Count Percent(%)
    Pre-school 34 9.5
    Infants/Primary 136 38.1
    Secondary 124 34.7
    Technical or Further Educational Institution 34 9.5
    University or other Tertiary Institutions 19 5.3
    Others 10 2.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1672 87.1
    Semi-detached, row or terrace house, townhouse 126 6.6
    Flat, unit or apartment 96 5.0
    Caravan, cabin, houseboat 17 0.9
    House or flat attached to a shop, office 9 0.5
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 401 46.0
    Rented 248 28.4
    Being purchased 215 24.7
    Other tenure type 8 0.9
    Tenure Type
Census 2011, ABS
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