Bright

POSTAL CODE: VIC, 3741

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a -15.92% capital gain.

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 $1,030,000.

Profits due to an downward trend in home prices there averaged -5.31% per annum over a 3-year period.

Home owners selling their properties and realtors in BRIGHT usually have to wait an average of 131.6 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $580 mark, reflecting a 2.93% increase in returns based on the current median price in BRIGHT.

BRIGHT, 3741 places 572nd in Australia based on median property value growth during the quarter.

Property investors in BRIGHT enjoyed capital gains of 2.36% over the last 12 months translating to lower returns compared with its peers in the territory.

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

Real estate investors could earn a rental income of $450 based on current median home prices for the suburb.

Average weekly rents on listings have reached the $450 mark, reflecting a 3.6% increase in returns based on the current median price in BRIGHT.

BRIGHT, 3741 ranks 191st in VIC in terms of median property value increase and capital gains, based on year-to-date figures.

BRIGHT ranks 346th on the list of best yielding suburbs for rental properties in VIC, posting a 3.6% return.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,030,000	$650,000
Growth Report
Median Quarterly	-0.96%	1.96%
Median 12 month	-8.44%	2.36%
Median 3 years	-15.92%	0%
Median 5 years	48.2%	39.78%
10 years average annual	11.16%	12.42%
Weekly media advert. rent	$580	$450
Time on Market	131.6 days	166.1 days
Gross Rental Yield Percent	2.93%	3.6%

Demographics (Median Values)*

Total Population 3100

Weekly Household Income 970

Household Size 2.20

Average 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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