Upper Ferntree Gully is an average performer in VIC when comparing median price capital growth over the last year. Upper Ferntree Gully gave property investors a average capital gain figure when compared to the rest of the state, with -2.02%.
When looking at the potential capital gains offered to property investors over the last 3 years, Upper Ferntree Gully comes in at number 311th in VIC.
Our latest figures would indicate that property sellers in Upper Ferntree Gully are currently offering property investors an average price cut of -6.90% below the asking price at the moment.
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Upper Ferntree Gully offers what few Melbourne suburbs can at affordable prices: great lifestyle choices. It is a roughly 50 minute drive or an hour train ride to the heart of the CBD, but has surroundings that closer resemble the countryside.
“It’s a great location for picking up quarter acre blocks and larger for affordable prices, so it appeals to young families and couples wanting to move away from the inner city,” says Jarrod Peterson, senior sales consultant at Bell Real Estate-Belgrave. “There’s no new development going on in the area, so supply is also tight.”
The area is well served by hospitals and sports facilities, with other amenities such as schools and shopping complexes in nearby suburbs.
Best street(s): Most expensive homes seem to cluster around Rose and Hughes St. Cheaper homes are generally found along Quarry Road and Railway Avenue.