All About Noble Park, Greater Dandenong, VIC, 3174

Noble Park is a suburb of Melbourne, Victoria. With a population of well over 30,000 people, it is a sizeable municipality with an excellent balance of commercial, industrial and residential regions. Noble Park is often noted for its cultural diversity, with much of its population hailing from Europe, Asia, Africa and elsewhere. First established in 1909 under the similar but differently-spelt name of ‘Nobel Park’, after Swedish inventor Alfred Nobel (the namesake of the Nobel Prize), settlement was drawn in by the construction of a community centre, post office, educational facilities and more. A railway station shortly followed in 1912, with the initial growth of the town being very gradual but accelerating rapidly after the 1920s.

Noble Park is characterised best by its multi-ethnic, exciting culture. Found within the local government area of the City of Greater Dandenong, it is 25km from the centre of Melbourne. The suburb has excellent public amenities, including schools, churches, mosques and temples, as well as the Noble Park Railway station which provides connections to the rest of the city by rail. The area has recently seen a great deal of investment, meaning Noble Park is an excellent place to own property, full of culture and opportunity.

Noble Park Real Estate Market Outlook

Thinking about buying in Noble Park? Now could not be a better time, with 16406 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $809,000 with prices in this suburb ranging from $71,000 to $3,650,000. Noble Park is located fairly close to the coast at just 7Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Consistent high demand relative to supply is a key feature in Noble Park driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Noble Park due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. Low average earnings from people in Noble Park leads to lower quality housing which also negatively impacts the provision of facilities. As a consequence this area is often seen as less desirable, with lower quality of housing and slower price growth. Lower than average population density constrains growth in Noble Park 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 Noble Park 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 Noble Park 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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