Property investors who have had real estate in Burnside, 3023 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 6.96%
Burnside,3023 was ranked 2672 in Australia by increase in median property value over the quarter.
Home to the beautiful natural watercourse Kororoit Creek, Burnside is a Melbourne suburb that reported a whopping 311% increase in housing supply in the period of March 2017-2018Full summary
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Stunning level of house supply growth
Median house price: $595,000
Stock on market: 311.1%
12-month growth: 12.3%
Home to the beautiful natural watercourse Kororoit Creek, Burnside is a Melbourne suburb that reported a whopping 311% increase in housing supply in the period of March 2017-2018.
The number of houses on the market increased four-fold, from 9 to 37, across this same period. This could be a response to the consistent demand shown in this suburb, which recorded nearly 50% growth in 2015. This growth has been maintained in the three months to March 2018. In addition, houses remain on sale for an average of just 22 days before being snapped up.
The upper end of Kororoit Creek runs beside Burnside, and brings in visitors curious about the creek’s diverse population of reptiles and amphibians.Close