If you compare the increase in value of investment property in Upwey, 3158 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was -2.93%.
The five-year average increase in median property values for Upwey,3158 has given property investors a potential capital gain of 48.19% across each of those five years.
Property buyers and investors in Upwey 3158 should be seeing an average reduction in asking price of around -7.41% . This means that Upwey is holding prices well when compared to other suburbs in VIC.
Using the current median advertised rental of $445 and the average annual increase in value of a median property of 6.57%, investors should hope to achieve an overall return of 3.32%
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