Flora Hill

POSTAL CODE: VIC, 3550

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a 9.63% capital gain.

It also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $592,000

The augmented property values in the suburb are trailing above the territorial average of 4.64% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $480.

Home owners selling their properties and realtors in FLORA HILL usually have to wait an average of 50.8 days days before their assets are lifted off the market.

The VIC suburb ranks 108th on the list of best yielding suburbs for rental properties in VIC, posting a 4.22% return.

It also places places th in Australia based on median property value growth during the quarter.

Property investors enjoyed capital gains of 1.12% over the last 12 months in FLORA HILL, translating to lower returns compared with its peers in VIC.

A survey of average capital gains or median home price increase in suburbs across the country shows that FLORA HILL, 3550 obtained a 7.46% growth over a ten-year period. It ranks 444th on our list of suburbs that property investors should look into.

FLORA HILL, 3550 has a capital gain of 1.12% for the past year, which is lower than average compared to its 33.93% growth within a five-year period.

With the median home price in FLORA HILL sitting at $450,000, and the average rent at $450, property owners could potentially earn a 5.2% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in FLORA HILL are low, as opposed to average gains per annum over the past five years.

FLORA HILL, 3550 in VIC belongs to the local government area of Greater Bendigo.

Surburb overview

Flora Hill is an established suburb of Bendigo in central Victoria, approximately 150 kilometres north-west of Melbourne’s CBD and about 2 kilometres south-east of the Bendigo city centre within the City of Greater Bendigo. Originally developed during the Victorian gold rush, the suburb has evolved into a well-established residential and education precinct, supported by its proximity to Bendigo's commercial centre and key institutions. Flora Hill is situated on the traditional lands of the Dja Dja Wurrung people.

According to the 2021 Australian Bureau of Statistics Census, Flora Hill had a population of 3,343 people with a median age of 37 years. Detached houses comprise the predominant housing type, complemented by units, townhouses and student accommodation associated with nearby tertiary education facilities. The suburb supports a diverse community of families, professionals, retirees and students, with education, healthcare, retail and professional services contributing to local employment.

Road access is provided via McIvor Road, connecting Flora Hill with central Bendigo, the Calder Highway and surrounding regional centres. Public transport includes regular local bus services linking the suburb with Bendigo Railway Station, La Trobe University and neighbouring suburbs. At the same time, Bendigo Railway Station provides frequent V/Line train services to Melbourne and other regional destinations. Walking and cycling paths also provide convenient access to the Bendigo city centre and surrounding areas.

Flora Hill offers a comprehensive range of essential services, including supermarkets, medical centres, pharmacies, schools, childcare facilities, cafés and neighbourhood retail businesses. The suburb is home to the Bendigo campus of La Trobe University and is adjacent to Bendigo TAFE. At the same time, Bendigo Health, government services, shopping precincts and specialist healthcare are located within nearby central Bendigo.

Flora Hill offers a variety of recreational and cultural opportunities. Residents and visitors have access to the Bendigo Creek Trail, nearby sporting reserves, walking and cycling paths, while Strathdale Park and Lake, Lake Weeroona and the Greater Bendigo National Park are all within easy reach. The suburb also benefits from proximity to Bendigo Art Gallery, Ulumbarra Theatre, Central Deborah Gold Mine, local markets and the city's year-round calendar of festivals, exhibitions and community events.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$592,000	$450,000
Growth Report
Median Quarterly	0%	1.12%
Median 12 month	7.64%	1.12%
Median 3 years	9.63%	-2.7%
Median 5 years	38.48%	33.93%
10 years average annual	6.52%	7.46%
Weekly media advert. rent	$480	$450
Time on Market	50.8 days	30.3 days
Gross Rental Yield Percent	4.22%	5.2%

Demographics (Median Values)*

Total Population 40339

Weekly Household Income 1107

Household Size 2.30

Average Age 39

Monthly Loan Repayment 1300

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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