Spring Gully

POSTAL CODE: VIC, 3550

HOUSE

UNIT

Based on its average 5-year and quarterly capital gains SPRING GULLY, 3550 saw average growth in the long term.

A survey of average capital gains or median home price increase in suburbs across the country shows that SPRING GULLY, 3550 obtained a 7.46% growth over a ten-year period. It ranks 1665th on our list of suburbs that property investors should look into.

SPRING GULLY, 3550 in VIC belongs to the local government area of Greater Bendigo.

SPRING GULLY, 3550 has a capital gain of 6.35% for the past year, which is lower than average compared to its 42.55% growth within a five-year period.

With the median home price in SPRING GULLY sitting at $670,000, and the average rent at $520, property owners could potentially earn a 4.04% increase in gross rental yield.

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

A steady increase in median property prices over a five-year period in SPRING GULLY, 3550 translates to a 43.1% capital gain.

SPRING GULLY, 3550 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 $415,000.

Profits due to an upward trend in home prices in SPRING GULLY, 3550 averaged 14.37% per annum over a 3-year period.

Home owners selling their properties and realtors in SPRING GULLY usually have to wait an average of N/A days before their assets are lifted off the market.

Average weekly rents on listings have reached the $435 mark, reflecting a 5.45% increase in returns based on the current median price in SPRING GULLY.

SPRING GULLY, 3550 places 336th in Australia based on median property value growth during the quarter.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$670,000	$415,000
Growth Report
Median Quarterly	4.69%	-5.68%
Median 12 month	6.35%	-4.6%
Median 3 years	16.02%	43.1%
Median 5 years	42.55%	29.18%
10 years average annual	7.46%	6.68%
Weekly media advert. rent	$520	$435
Time on Market	46.6 days	N/A
Gross Rental Yield Percent	4.04%	5.45%

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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