All About Cheltenham, Kingston (Vic.), VIC, 3192

Cheltenham is a rapidly developing suburb of Melbourne, Victoria. With a population of over 22,000 people, Cheltenham began as 625 acres of land purchased at auction in 1852. The name comes from a hotel, the Cheltenham Inn, built in 1854 and named for the hometown of its proprietor. A post office opened in 1857, with Cheltenham Railway station opening subsequently in 1881. A rapid residential growth spurt began after the Second World War, which carried on into the 1980s. a large shopping centre was constructed in the 1960s and remains in operation to this day; there is also a large industrial area along the eastern edge of the municipality.

Found just 18km from the centre of Victoria, Cheltenham has seen much promising development of late, being noted as undergoing gentrification and economic development. With a number of excellent facilities ranging from places of worship and education to sports facilities and parks, as well as connections by car, bus and train to central Melbourne, Cheltenham is a suburb full of history, character and opportunity.

Cheltenham Real Estate Market Outlook

Thinking about buying in Cheltenham? Now could not be a better time, with 17303 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,282,000 with prices in this suburb ranging from $145,000 to $23,675,000. Cheltenham is located fairly close to the coast at just 1Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Prices are above market average and increase steadily under persistent demand. A more sustainable rate of price growth is anticipated in the short to medium term. High average incomes in Cheltenham ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Cheltenham classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Cheltenham requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.

Instant Property Valuation

---

---

---

---

---

Public Transport

---

General Points of Interest

---

Nearby Suburbs

Residz covers 12m+ Australian properties and brings together a wealth of data to give you a better understanding of an area. From crime and schools to bush fire, flood risk and more. Begin your search for properties for sale or learn more about where you currently reside. Residz is an exciting next-generation Real Estate platform getting better by the day!