Situated in Victoria's 3550 postcode, Long Gully is a well-established residential suburb. Located approximately 134km from the Melbourne CBD, the suburb benefits from solid transport and amenity access.
Long Gully has a population of approximately 3,420, a median age of 37, a median weekly household income of $1,103. The suburb has a balanced mix of owner-occupiers (54%) and renters, indicating healthy demand across both segments. Across the broader LGA, 32.7% of residents hold a university qualification.
Key employment industries in the broader local government area include Health Care and Social Assistance (19.8%), Retail Trade (10.2%), Construction (9.8%).
The current median house price in Long Gully is $495,000. The suburb has delivered strong average annual growth of 9.8% over the past five years, outperforming many comparable markets. In the past 12 months, prices have increased 10%.
Properties in Long Gully spend an average of 21 days on market. Online buyer demand is currently rated as high online demand. Stock on market sits at 0.31%. With inventory levels at just 0.74 months, supply is tight relative to demand. The average vendor discount is -5.8%, meaning sellers are typically negotiating below asking price.
The median weekly rent for houses in Long Gully is $460. Gross rental yield is 4.83%, providing a solid income return. Vacancy rate is 1.9%, reflecting healthy rental demand. Rents have grown 6.98% over the past 12 months.
The broader local government area is forecast to grow from 129,021 to 140,281 residents by 2031, representing 8.7% population growth. This level of growth typically supports continued demand for housing and infrastructure investment.
Explore other suburb profiles in the area: Bendigo, VIC, East Bendigo, VIC, Flora Hill, VIC, Ironbark, VIC, Kennington, VIC.
Handle Properties is a Sydney-based buyer's agency helping investors build portfolios of high-growth investment properties across Australia. If you are considering Long Gully or need help identifying the right suburb for your strategy, get in touch with our team.
The quantitative data below has been compiled on 30th May 2023 from a range of third party sources using a variety of manual methods. Handle does not guarantee the accuracy of this data shown below.