Olinda lies 36km east of the Melbourne CBD and was named after Olinda creek which begins in the township. The creek was named after Alice Olinda Hodgkinson, the daughter of Clement Hodgkinson, Victorias acting surveyor general. Initially the town was a logging settlement however as land was made available for horticulture in the early 1900s the town grew substantially.
VIC has seen average median house prices change by 0.13% which means that Olinda, 3788 has done well for property investors by showing a capital gain of -15.37% over the last year.
The five-year average increase in median property values for Olinda,3788 has given property investors a potential capital gain of 10.85% across each of those five years.
The most recent median price for Olinda is $424000, with sellers offering an average of -9.71% off the asking price.
Olinda is 175th on a list of best yielding suburbs for rents in VIC with a 4.84% return.
Excellent lifestyle , numerous parks and attractions, Sherbrooke state forest, relaxed family living amidst an array of colour from the numerous plants and flowers throughout the town. Private tranquil homes are scattered throughout.
Most sought-after properties:
Modest to grand homes ranging from the early 1900s to the late 1980s.
Most common properties:
Mixture of small “miners cottages” with substantial character timber homes.
Parks, gardens gymnasium, cafes and retailshops, art galleries, tea rooms, antique and bric a brac shops, golf course and forest walks
Local industry and business:
Primarily tourist and retail businesses, schools and shops.
Best streets: MONASH AVE, WARWICK FARM RD, MOUNT DANDENONG TOURIST RD
Public transport: Buses
Main arteries: Maroondah highway, Eastlink