All About East Melbourne, Melbourne, VIC, 3002

East Melbourne is one of Melbourne's most prestigious suburbs, known for its affluent character, heritage architecture, and verdant streetscapes. As of 2023, the housing market in East Melbourne reflects its high demand and exclusivity, with property prices significantly exceeding the Melbourne average. This suburb is renowned for its grand Victorian terrace houses and luxury apartments, many of which offer views of the city's skyline or proximity to some of Melbourne's iconic landmarks such as the Fitzroy Gardens. The blend of historical charm and modern amenities make East Melbourne a sought-after location for professionals and families who appreciate a balance of tranquility and urban accessibility. The housing market, characterized by limited supply and high competition, underscores the area’s continued desirability among buyers who prioritize location and lifestyle.

Living in East Melbourne offers residents a uniquely harmonious lifestyle marked by convenience, cultural richness, and natural beauty. Positioned on the fringe of Melbourne's central business district, it provides an enviable blend of city vibrancy and suburban peace. Residents enjoy easy access to a range of amenities including top-notch dining, shopping on nearby Smith and Brunswick Streets, and cultural institutions like the Melbourne Museum. East Melbourne's leafy streets and the expansive Fitzroy and Treasury Gardens provide ample opportunities for outdoor activities and relaxation. Additionally, the suburb's connectivity via public transport makes commuting a breeze, further enhancing the quality of life. The close-knit community, coupled with East Melbourne’s rich history and sophisticated atmosphere, makes it a coveted address for those seeking a refined urban living experience.

East Melbourne Real Estate Market Outlook

Thinking about buying in East Melbourne? Now could not be a better time, with 8751 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $2,244,000 with prices in this suburb ranging from $111,000 to $18,539,000. East Melbourne is located fairly close to the coast at just 2Km 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 East Melbourne 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. A mix of professions and above average income earners in East Melbourne provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Lower than average population density constrains growth in East Melbourne to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. Lower than average industry presence in East Melbourne we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make East Melbourne a better buying opportunity than it may have been in the past.

Instant Property Valuation

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Public Transport

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General Points of Interest

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Nearby Suburbs

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