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Spring Gully, VIC 3550
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$715,000
market range $625K-$800K
Median Unit
$470,000
list-price estimate
Gross Yield (houses)
4.2%
1yr Growth (houses)
+8.1%
market range +2.5% to +20.0%
Investment snapshot for Spring Gully
Spring Gully has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Spring Gully market and investor summary
In Spring Gully, VIC 3550, the median house sells for around $715K, on a gross rental yield of 4.2% for houses. House prices have moved +8.1% over the past year and -3.4% over three years. At 1.6% vacancy, it is a tight rental market that favours landlords.
For an investor, the rent-to-price profile sits mid-range: a gross house yield near 4.2% is neither a standout cashflow play nor a pure growth bet. If you are weighing units rather than houses, a pipeline of new approvals is worth watching as future supply that can hold back apartment price and rent growth.
Living in Spring Gully: people, income and schools
Spring Gully has a resident population of roughly 3,092, a number that has held fairly steady over five years. At a median age of 45, it reads as skewed a little older, and 76% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
The typical household income runs to around $80,000 a year (about $1,540 a week). On socio-economic measures it ranks around the national middle on the ABS advantage index (4 out of 10). At current prices a median house runs to about 8.9 times local household income, in line with much of metropolitan Australia. Incomes have risen about 23% over five years, which tends to underpin what local buyers can pay.
Families have 23 schools within roughly 5km to choose from, testing a little above the national school average on ICSEA. It is fairly car-dependent; the suburb scores 13 for walkability and 13 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Node.
- Population
- 3,092
- -0% over 5yr
- Median age
- 45 years
- Median household income
- $80,000/yr
- Households renting
- 20%
- Family households
- 64%
- Socio-economic rank
- 4/10
- ABS advantage index
- Schools within 5km
- 23
- avg ICSEA 1029
- Unemployment
- 4.7%
- Walk score
- 13/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Spring Gully
View all →Frequently asked questions about Spring Gully
What should I check before investing in Spring Gully?
Spring Gully has enough public data for first-pass screening across yield, vacancy, price and supply signals. Solid unit gross rental yield of 5.0%, giving a stronger rent-to-price starting point than many suburbs. Capital growth of +8.1% in the past year shows strong recent price momentum. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Spring Gully?
The median property price in Spring Gully, VIC 3550 is $715K for houses.
What rental yield does Spring Gully show?
The gross rental yield in Spring Gully is 4.2% for houses and 5.0% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
What does recent house price growth show for Spring Gully?
House prices in Spring Gully are up 8.1% over the past year and down 3.4% over three years. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in Spring Gully?
The current vacancy rate in Spring Gully is 1.6%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
How many people live in Spring Gully?
Spring Gully has a population of approximately 3,092 residents, with a median age of 45.
What schools are near Spring Gully?
There are 23 schools within roughly 5km of Spring Gully. Their average ICSEA is a little above the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Spring Gully affordable to buy in?
A median house in Spring Gully costs about 8.9 times the median local household income (broadly in line with metropolitan Australia). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Spring Gully's population growing?
The population of Spring Gully has held roughly flat over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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