At number 1974th in the list of Australian suburbs ordered by increase in median house value over the last year, Upwey, 3158 is in the top half with a property value increase of 5.20% recorded in median house prices.
The five-year average increase in median property values for Upwey,3158 has given property investors a potential capital gain of 27.74% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Upwey is offering property investors an average of -5.99. This rate of discount on properties puts Suburb at number 431th in terms of most discounted suburbs in VIC
The VIC suburb of Upwey, 3158 is in the Yarra Ranges local government area.
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