All About Upwey, Yarra Ranges, VIC, 3158

Upwey, nestled within the idyllic Yarra Ranges of Victoria, offers a unique blend of suburban tranquility and natural beauty, making it an attractive option in the housing market. The housing market in Upwey reflects the area's charming appeal, with an array of properties ranging from classic mid-20th-century homes to modern residences that cater to diverse preferences. Over recent years, this suburb has seen a steady increase in demand, partly due to its picturesque surroundings and relatively accessible pricing compared to inner Melbourne suburbs. Families and professionals alike are drawn to Upwey for its spacious properties and a strong sense of community. The local real estate market remains competitive but provides value for those looking for a peaceful lifestyle without straying too far from urban amenities.

Living in Upwey offers a serene lifestyle coupled with the benefits of being close to nature without sacrificing convenience. The area is characterized by its lush greenery, with the Dandenong Ranges providing a stunning backdrop and various outdoor activities, including hiking trails and scenic lookouts. Residents enjoy a rich community atmosphere, with local markets, quaint cafes, and community events fostering a strong neighborhood spirit. Moreover, Upwey boasts good connectivity to Melbourne's city center via the Belgrave train line, making it a viable option for commuters. The local schools, parks, and family-friendly environment further enhance its charm, making Upwey not just a place to live but a delightful retreat from the hustle and bustle of city life.

Upwey Real Estate Market Outlook

Thinking about buying in Upwey? Now could not be a better time, with 3043 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,152,000 with prices in this suburb ranging from $342,000 to $3,800,000. The aproximate distance to the coast is 22 Km.

Consistent high demand relative to supply is a key feature in Upwey driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Upwey 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 Upwey provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. High density population in Upwey 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. Lower than average industry presence in Upwey 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 Upwey a better buying opportunity than it may have been in the past.

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