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California Gully, VIC 3556

Home » VIC Real Estate Data » Greater Bendigo City, VIC » California Gully, VIC 3556

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for California Gully, VIC 3556 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

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Buy 

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Rent 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “California Gully, VIC 3556”

  1. The total adult population (15 years or older) of California Gully 3556 VIC is 3,643, with a median age of 39. Of those, 33.02% are married, 17.29% are divorced or separated, 42.88% are single and 6.89% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $5,464. The median monthly mortgage repayment for households in this suburb is $1,200 which is 21.96% of their earnings.

    Source: ABS Census Data (2021)

  2. Located within Victoria, the suburb of California Gully 3556 is projected to comprise approximately 2323 households. As of Q3 2023, the typical house price in this region is a fairly affordable $459,450. With the median weekly rent determined at $419, property investors may find a respectable indicative yield of 4.74% rather appealing.

    Diving into socio-economic factors, the suburb evinces an IRSAD score of 839 out of 1217. This demonstrates a moderate level of socio-economic advantage, referencing a relatively comfortable access to financial resources, a predominantly skilled workforce, and reasonable income brackets. In examining property demographics, a renter to owner ratio of 34% has been identified for California Gully. This ratio falls slightly over the ideal property market ratio but remains within the limit that could still be considered acceptable for investment.

    With a units to houses ratio of just 6%, it is clear that houses dominate the local property market. This presents an opportunity for longer tenancy periods and potentially higher rental yields, with properties more likely to attract families than transient renters. It also reduces the risk of market oversaturation through unit rentals. The affordability index in the region is slightly higher than ideal, with it taking approximately 33 years to fully own a property.

    Taking a closer look at the supply metric, the stock on market Percentage sits comfortably at a desirable low 0.36%. This is backed by an inventory level of just 1.3 months, further indicating a low supply market. The building approvals Ratio also remains on the low spectrum at 0.4%, avoiding a potential oversupply of new dwellings that could imbalance the market.

    On the side of demand metrics, houses in California Gully generally spend a mere 17 days on the market. The minimal vacancy rate of 0.63% further indicates the high demand in relation to the supply of both houses and units in the area. However, the buy search index for houses sits at 4, which is a neutral indicator and may suggest that the demand is not exceedingly high compared to the state or city average.

    On the whole, California Gully 3556 displays several favourable investment metrics with a few presenting as neutral. Coupling these factors with a continuous monitoring of the property market trends in the locality, California Gully does hold potential investment opportunities worth considering. This is however subjective and individual investment goals, needs and strategy should be taken into account. The HtAG Analytics Relative Composite Score could be a useful and efficient tool in assisting further research and analysis.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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