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Long Gully, VIC 3550

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 Long Gully, VIC 3550 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.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

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 “Long Gully, VIC 3550”

  1. The total adult population (15 years or older) of Long Gully 3550 VIC is 2,790, with a median age of 38. Of those, 30.54% are married, 16.49% are divorced or separated, 45.38% are single and 7.78% are widowed.

    The average household size is 2.2 people per dwelling, and the median household monthly income is estimated to be $5,092. The median monthly mortgage repayment for households in this suburb is $1,117 which is 21.94% of their earnings.

    Source: ABS Census Data (2021)

  2. Long Gully 3550, a suburb in Victoria, is an area that continues to attract a mix of buyers and investors, given its unique position in the property market. The suburb, which houses an estimated 1881 households, is gradually expanding, showcasing a friendly and ever-growing community that has attracted the attention of both renters and owners.

    As of the third quarter of 2023, the median house price in Long Gully 3550 is clocking in at $434,010. Property investors can secure a relatively good rental yield, estimated at 4.55% thanks to median weekly rent rates of $380. This impressive indicative yield exceeds the minimum market requirement of 3%, marking Long Gully as a potentially profitable location for cash flow centred investors.

    An examination of the fundamental metrics indicates a socio-economic score of 813 out of a possible 1217. This IRSAD score for Long Gully points to a fairly decent economic landscape for the local population, amplifying the area’s investment appeal.

    The renter to owner ratio stands at 43%, above the neutral value of 30% but below the high-risk 45%. This indicates a balanced proportion of renters and homeowners, though investors should keep an eye on this figure to avoid over-saturation.

    The units to houses ratio, meanwhile, is an extremely favourable 6%, suggesting a low competition amongst landlords and a good potential for longer tenancies and higher rental yields.

    However, the area’s affordability index of 33 years raises some concerns over its accessibility for first home buyers. This figure surpasses the benchmark 30-year mortgage term, signalling a less affordable market.

    Long Gully’s supply metric echoes a positive note with a stock on market Percentage of 0.23% and an inventory level of 0.83 months, both indicative of a low supply market. The relatively minor building approvals Ratio of 0.23% also suggests a limited influx of new dwellings, further contributing to the low supply scenario.

    The average days on market stands at 61, connoting a moderate level of popularity while the commendable vacancy rate of 1.12% suggests a high demand environment. Coupled with a solid buy search index of 5, the demand-centric metrics collectively indicate a sustainable and decent level of interest in the area.

    While a few metrics deviate from the ideal range, it’s critical to view these in context with the predominantly favourable statistics. Additionally, investors may benefit from HtAG Analytics’ Relative Composite Score that utilises a range of metrics, including the aforementioned factors, to provide a comprehensive assessment of the property market conditions. Ultimately, Long Gully presents as a suburb with a cocktail of potential attractive investment opportunities worth exploring.

    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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