Spring Gully is a smaller suburb in Victoria within the Greater Bendigo local government area (postcode 3550). With a population of 3,092, the suburb has a mature demographic with a median age of 45. Households earn a median income of $80K per year, with an average household size of 2.3 people. The most common occupations are professionals, community & personal service, managers. The top ancestries reported are English, Australian, Irish.
The median house price in Spring Gully is $640,000, having dropped significantly 8.6% over the past year. Units have a median price of $393,000 (+1.3% YoY). The current median weekly rent is $440. This gives a gross rental yield of approximately 3.6%. The median monthly mortgage repayment is $1,454.
Public transport access includes 16 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, Spring Gully offers a gross rental yield of 3.6%, rated as moderate yield. Property prices are near the state median ($640K/$875K). The price-to-income ratio of 8.0x is considered moderate. House prices have moved -8.6% year-on-year.
Spring Gully is a smaller suburb in Victoria within the Greater Bendigo local government area (postcode 3550). With a population of 3,092, the suburb has a mature demographic with a median age of 45. Households earn a median income of $80K per year, with an average household size of 2.3 people. The most common occupations are professionals, community & personal service, managers. The top ancestries reported are English, Australian, Irish.
The median house price in Spring Gully is $640,000, having dropped significantly 8.6% over the past year. Units have a median price of $393,000 (+1.3% YoY). The current median weekly rent is $440. This gives a gross rental yield of approximately 3.6%. The median monthly mortgage repayment is $1,454.
Public transport access includes 16 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, Spring Gully offers a gross rental yield of 3.6%, rated as moderate yield. Property prices are near the state median ($640K/$875K). The price-to-income ratio of 8.0x is considered moderate. House prices have moved -8.6% year-on-year.