Upwey has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 18.14% to date .
A 58.93% growth in median value for property investors in Upwey,3158 puts this suburb at number 123th in terms of best performing suburbs in VIC
The most recent median price for Upwey is $667500, with sellers offering an average of -1.45% off the asking price.
At number 133 in a list of fastest selling suburbs, Upwey is in the TOP 20% of suburbs in Australia with an average of days on market 16.46 for properties listed there.
Advertised rents are around the $420 mark per week – giving a return of 3.27% based on the median price in Suburb
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