VIC has seen average median house prices change by 8.06% which means that Upwey, 3158 has done well for property investors by showing a capital gain of 11.65% over the last year
While Upwey,3158 ranked number 164th in VIC for increase in median house value (annualised) increase, it is ranked 182th over the last 5 years.
Property investors looking for a bargain in Upwey should be aiming for at least -6.07% off the asking price, which is the average vendor discount being achieved at the moment.
At number 174 in a list of fastest selling suburbs, Upwey is in the TOP 10% of suburbs in Australia with an average of days on market 39.37 for properties listed there.
Upwey is 296th on a list of best yielding suburbs for rents in VIC with a 3.80% return
Upwey is situated approx 32km from Melbourne and was originally known as “Mast Gully” as several masts were cut down for ships in the 1850s. Upweys population is approx 6,700 made up of both young people and retirees.Full summary
Information supplied by:
Harcourts Essential Real Estate
Upwey is situated approx 32km from Melbourne and was originally known as “Mast Gully” as several masts were cut down for ships in the 1850s. Upweys population is approx 6,700 made up of both young people and retirees.
Excellent lifestyle, numerous parks and attractions, good community schools and public transport.
Most sought-after properties:
Contemporary homes mixed with character cottages and timber homes
Most common properties:
Quaint timber cottages
Parks, gardens gymnasium, cafes and retailshops, public reserves and walking tracks through the forest.
Local industry and business:
Primarily tourist and retail businesses
Numerous new businesses opening to cater for the tourist trade.
Glenfern road, Kooringal road, bayview avenue, morris rd, mahony st.
Public transport: buses, trains
Main arteries: Glenfern rd, Wellington rd with direct access to eastlink and monash freeway