Investment property in Upwey has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 11.54%
Across a shorter period, Upwey, 3158 has seen a median price increase of 2.65% over the last quarter.
Sellers are offering property buyers an average discount of -5.06% to buyers in Upwey at the moment, which is less than average for the rest of VIC.
Often selling an investment property can take time, and in Upwey the average time real estate has been on the market is 35.68 days.
Renters in Suburb are facing rents around $5100 per annum or $425 every week.
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