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Burnside

POSTAL CODE: VIC, 3023
HOUSE

Property investments in BURNSIDE fare well against the rest of the country last year, registering a median home price increase of 11.44%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains BURNSIDE, 3023 saw average growth in the long term.

Real estate investors could earn a rental income of $570 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 51 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $813,500.

BURNSIDE ranks 220th on the list of best yielding suburbs for rental properties in VIC, posting a 3.64% return.

Surburb overview

Burnside, bearing the postcode 3023, is a suburb approximately 20 kilometres west of Melbourne's Central Business District (CBD). As of the 2021 census, it had a population of 5,800.

The suburb has a diverse demographic including young professionals, families, and retirees. Most of the population comprises couples with children, reflecting a family-friendly environment.

Public transportation in Burnside is well-developed, offering residents convenient access to various parts of Melbourne. While the suburb does not have a train station, it is serviced by nearby stations such as Keilor Plains and Watergardens on the Sunbury line and the newly created Caroline Springs railway station on the Ballarat line, which are 4 minutes and 8 minutes driving distance, respectively.  Additionally, several bus routes operate through Burnside, providing further connectivity options.

Burnside has various essential establishments, including educational institutions, healthcare facilities, and shopping centres. The suburb boasts a variety of cafes, restaurants, and boutique shops, contributing to a vibrant local economy.  The presence of parks and recreational facilities enhances the quality of life for residents, offering spaces for leisure and community activities.

Recreational activities are abundant in Burnside, with numerous parks and green spaces available for public use. The picturesque Kororoit Creek provides walking, picnicking, and outdoor sports opportunities.  Additionally, the suburb's proximity to the Burnside Hub Shopping Centre offers residents access to various retail and entertainment options. 

Burnside's blend of urban convenience and community-oriented living makes it a desirable location for diverse residents.  

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