Upwey is in the TOP 20% in VIC when comparing median price capital growth over the last year. Upwey gave property investors a very good capital gain figure when compared to the rest of the state, with 19.14%.
While Upwey,3158 ranked number 397th in VIC for increase in median house value (annualised) increase, it is ranked 238th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Upwey is offering property investors an average of -5.26. This rate of discount on properties puts Suburb at number 572th in terms of most discounted suburbs in VIC
Residents and property investors in Upwey have been waiting around 22.84 days to sell a property.
Property investors should expect to get $430 weekly from the median priced house in this suburb.
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