Suburb Profile Report for Upwey VIC (3158)

Upwey House: Median price $613,500, Annual capital growth 7.19%, Number of sales 104, Weekly median advertised rent $400

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Expert Report

Over the last year, property investments in Upwey, 3158 have given investors a capital gain of 14.67%. This compares favourably with the 8.96% for VIC as a whole.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Upwey has increased when compared to the 5 year average annual rate.

The most recent median price for Upwey is $613500, with sellers offering an average of -3.22% off the asking price.

In the last year 104 properties changed hands in Upwey, which puts it as the 259th most active market in VIC when comparing the number of sales per suburb.

Using the current median advertised rental of $400 and the average annual increase in value of a median property of 7.19%, investors should hope to achieve an overall return of 3.39%

Mark Yusuf Information supplied by:

Mark Yusuf
Harcourts Essential Real Estate

M 97546000
O 0419521065

W http://markyusuf.harcourts.com.au/
E MARK.YUSUF@HARCOURTS.COM.AU
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
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.
 
Selling points: 
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
 
Top amenities: 
Parks, gardens gymnasium, cafes and retailshops, public reserves and walking tracks through the forest.
 
Local industry and business:
Primarily tourist and retail businesses
 
Recent changes: 
Numerous new businesses opening to cater for the tourist trade.
 
Best streets: 
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
Close
Metrics i HOUSE UNIT
$613,500 N/A
5.78% N/A
14.67% N/A
7.19% N/A
$400 N/A
104 N/A
3.39% N/A
33.16 N/A

Source: CoreLogic

DSR Score for property investment : Above average (U), Very good (H)
Find a mortgage broker in Upwey VIC
Demographics
Total population 6963
Median household income ($/weekly) 1537
Median age of persons 37
Median housing loan repayment ($/monthly) 1651
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 888 12.8
    25-34 years 786 11.3
    35-44 years 1085 15.6
    45-54 years 1153 16.6
    55-64 years 966 13.9
    Others 2086 30.0
    Age Group
    Census Count Percent(%)
    Registered Married 2541 48.4
    Not Married 2097 40.0
    Defacto Relationship 610 11.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 5555 83.1
    Greece 73 1.1
    Papua New Guinea 96 1.4
    United Kingdom 478 7.2
    Other 129 1.9
    Others 350 5.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 103 1.6
    Christianity 3198 51.1
    Islam 21 0.3
    Other Religious Groups 63 1.0
    No Religion 2850 45.5
    Others 23 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 198 9.2
    $1,250-$1,499 204 9.5
    $1,500-$1,999 355 16.5
    $2,000-$2,499 277 12.9
    $2,500-$2,999 213 9.9
    Others 901 41.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2308 42.7
    Employed, worked part-time 1338 24.7
    Not in the labour force 1338 24.7
    Employed, away from work 236 4.4
    Unemployed, looking for work 188 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 430 11.1
    Professionals 936 24.1
    Technicians & trades workers 672 17.3
    Community & personal service workers 403 10.4
    Clerical & administrative workers 592 15.3
    Others 847 21.8
    Occupation
    Census Count Percent(%)
    Pre-school 136 7.4
    Infants/Primary 566 30.8
    Secondary 581 31.6
    Technical or Further Educational Institution 198 10.8
    University or other Tertiary Institutions 284 15.5
    Others 73 4.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5855 88.1
    Semi-detached, row or terrace house, townhouse 718 10.8
    Flat, unit or apartment 71 1.1
    Improvised home, tent, sleepers out 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1346 56.6
    Fully owned 761 32.0
    Rented 265 11.1
    Other tenure type 7 0.3
    Tenure Type
Census 2011, ABS
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Recent sales & rentals