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AREA REPORTS

Bright

Bright - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3741

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Homeowners and real estate investors betting on BRIGHT, 3741 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 21.86%.

A steady increase in median property prices over a five-year period in the suburb translates to a 43.8% capital gain.

Property investors in BRIGHT enjoyed capital gains of 21.86% over the last 12 months translating to lower returns compared with its peers in the territory.

The suburb 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 $719,000.

Profits due to an upward trend in home prices there averaged 14.6% per annum over a 3-year period.

Home owners selling their properties and realtors in BRIGHT usually have to wait an average of 68.7 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $420 mark, reflecting a 3.04% increase in returns based on the current median price in BRIGHT.

BRIGHT, 3741 places 179th in Australia based on median property value growth during the quarter.

Data report can be found below

Bright
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $719,000 $459,000
GROWTH REPORT
Median Quarterly 4.58% 0%
Median 12 month 21.86% 2%
Median 3 years 43.8% 21.59%
Median 5 years 86.75% 66.3%
10 years average annual 9.48% 6.98%
Weekly media advert. rent $420 $340
Time on Market 68.7 days 62.6 days
Gross Rental Yield Percent 3.04% 3.85%
demographics (median values)*
Total Population
3100
Weekly Household Income
970
Household Size
2.20
Age
48
Monthly Loan Repayment
1393
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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