Burnside Heights

POSTAL CODE: VIC, 3023

HOUSE

Property investors have seen a -0.94% drop in BURNSIDE HEIGHTS based on a decrease in median home prices for the past three months.

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

The VIC suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $787,500

Profits averaged 1.67% per annum over a 3-year period, due to an upward trend in home prices in BURNSIDE HEIGHTS, 3023.

This means, real estate investors could earn a rental income of $575 based on current median home prices for the suburb.

The gross rental yield in BURNSIDE HEIGHTS, 3023 is 3.8%.

An average of 7 real estate transactions take place per month in BURNSIDE HEIGHTS which translates to 84 per annum.

Surburb overview

Burnside Heights, located approximately 21 kilometres northwest of Melbourne's Central Business District (CBD), is a suburb within the City of Melton local government area. As of the 2021 census, it has a population of 6,377 residents.

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

Public transportation in Burnside Heights is well-developed, offering residents convenient access to various parts of Melbourne. The suburb is serviced by nearby train 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 Heights, providing further connectivity options.

Burnside Heights has many 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 Heights, 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 Watervale Shopping Centre offers residents access to a wide range of retail and entertainment options.

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

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$787,500	N/A
Growth Report
Median Quarterly	-0.94%	N/A
Median 12 month	5%	N/A
Median 3 years	5%	N/A
Median 5 years	17.54%	N/A
10 years average annual	5%	N/A
Weekly media advert. rent	$575	N/A
Time on Market	38.3 days	N/A
Gross Rental Yield Percent	3.8%	N/A

Demographics (Median Values)*

Total Population n.a.

Weekly Household Income n.a.

Household Size n.a.

Average Age n.a.

Monthly Loan Repayment n.a.

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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