Suburb by suburb snapshot – Flora Hill

May 8, 2021 BY

La Trobe University Bendigo campus.

The size of Flora Hill is approximately 2.9 square kilometres and has one park covering nearly 0.3 per cent of total area.

The population of Flora Hill in 2011 was 3865 people and by the 2016 Census the population was 3948 showing growth of 2.1 per cent in the area during that time.

This three-bedroom Flora Hill home built in the 1950s and on a handy sized block sold recently for $430,000.

Flora Hill is a residential suburb three-kilometres south-east of Bendigo and among its earliest buildings was a timber Holy Trinity Anglican church which was replaced with a contemporary brick structure in 1972.

During the first half of the twentieth century Flora Hill was beyond Bendigo’s urban fringe. One of its notable features was a boys’ farm for teaching agricultural skills, begun after World War One.

After World War Two new housing development moved in the direction of Flora Hill, and the South Bendigo Progress Association agitated for the opening of a primary school which had its first intake in 1952.

Elsewhere at Flora Hill, several years before, part of the boys’ farm had been reserved for educational purposes with a new campus for the Bendigo Junior Technical School in mind. The new junior school did not eventuate, but in 1966 the reserved land was allocated to the Bendigo Institute of Technology (former School of Mines).

The Institute’s Flora Hill campus was opened in 1970, and it was later integrated with La Trobe University.

Flora Hill has a shopping centre, a State secondary school which adjoins extensive university student accommodation, and a public reserve with a swimming pool.

CoreLogic data indicates that the predominant age group in Flora Hill is 20-29 years with households in Flora Hill being primarily couples with children and are likely to be repaying $1400 to $1799 per month on mortgages, and in general, people in Flora Hill work in a professional occupation.

In 2011, 50.7 per cent of the homes in Flora Hill were owner-occupied compared with 44.1 per cent in 2016.

 

AGENT PERSPECTIVE:

“Flora Hill, along with the majority of Bendigo’s suburban areas has experienced a strong growth period over the past 12 months.

“Demand has been exceptional from both the owner occupier and investor market.

“Investors should note that due to rent increase restrictions caused by COVID last year, there is a slight mismatch with rental returns in relation to sale prices.

“Over time this will correct itself as the rental market is strong, and rental increases have now recommenced.

“Flora Hill has long been regarded as one of Bendigo’s most popular suburbs providing easy access to La Trobe University, Strathdale and Kennington Village shopping facilities, popular schools, and the Bendigo CBD.

“You’re spoilt for choice in Flora Hill with a large variety of property types, whether it’s a contemporary townhouse, or a classic cream brick – there’s something to suit everyone.”

Bawa Singh – Tweed Sutherland First National Real Estate

 

TIDBIT:

The Institute’s Flora Hill campus was opened in 1970, and it was later integrated with La Trobe University.

 

Population: 3955

Male: 46.3%

Female: 53.7%

Median age: 27

5-year population change: 2.1%

House median value: $460,000

Change in Median Price: (5yrs) is 22.6%

Median asking rent per week: $350

Average length of ownership: 10 years

Owner occupiers:45%

Renters: 55%

 

House median sale price:

February 2021: $392,500

February 2020: $370,000

February 2019: $355,000

February 2018: $335,000

February 2017: $310,000

 

House sales per annum:

Period ending February 2021: 64

Period ending February 2020: 73

 

Land median sale price:

February 2021: $185,000

February 2020: $182,000

 

Land sales per annum:

Period ending February 2021: 17

Period ending February 2020: 23

Thank you for supporting local journalism!