Flora Hill (postcode 3550) is a smaller suburb in Victoria within the Greater Bendigo local government area. The area has roughly 3,989 residents and a mix of young professionals and families, with a median age of 32. Households earn a median income of $70K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, community & personal service, sales. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are English, Australian, Irish.
Median house prices in Flora Hill stand at $499,000, having moved lower by 5.9% over the last twelve months. Units have a median price of $453,000 (+5.2% YoY). The current median weekly rent is $460. This gives a gross rental yield of approximately 4.8%. The median monthly mortgage repayment is $1,300.
Public transport access includes 32 bus stops. The crime rate in the Greater Bendigo LGA is higher than average at 9,634 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 4.8% (moderate yield). Property prices sit below the state median ($499K/$875K), which can point to relative value. The price-to-income ratio of 7.1x is considered moderate. House prices have moved -5.9% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.