With a capital gain of -2.46% for the last 12 months, Upwey, 3158 has performed for property investments than its average annual 6.78% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, Upwey has given property investors a paper return of 0.80%. This puts Suburb as 199 on a list of fastest fasting appreciating suburbs in VIC
LACK OF BUYER INTEREST may well be the reason that Upwey is offering property investors an average of -6.90. This rate of discount on properties puts Suburb at number 173th in terms of most discounted suburbs in VIC
Residents and property investors in Upwey have been waiting around 44.1294 days to sell a property.
Upwey is 355th on a list of best yielding suburbs for rents in VIC with a 3.38% return
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