Bellfield

POSTAL CODE: VIC, 3081
HOUSE

A steady increase in median property prices over a five-year period in the suburb translates to a 10.13% capital gain.

It 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 $1,032,500

The augmented property values in the suburb are trailing above the territorial average of 2.91% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $595.

Home owners selling their properties and realtors in BELLFIELD usually have to wait an average of 31 days days before their assets are lifted off the market.

The VIC suburb ranks 420th on the list of best yielding suburbs for rental properties in VIC, posting a 3% return.

It also places places 297th in Australia based on median property value growth during the quarter.

Surburb overview

Bellfield, located approximately 9 kilometres northeast of Melbourne's Central Business District, is a suburb within the City of Banyule, Victoria. As of the 2021 census, it has a population of 1,996 residents.

The suburb is primarily residential, featuring a mix of older homes and newer townhouse developments. Darebin Creek bounds Bellfield to the west, Bell Street to the north, Waterdale Road to the east, and Banksia Street to the south.

Recreational opportunities are abundant, with several parks and green spaces. Notably, Ford Park and Liberty Park Reserve offer residents ample outdoor spaces for leisure and sports activities. The Bellfield Cricket Club, established in 1934, is based at Ford Park and competes in the Heidelberg District Cricket Association.

In terms of housing, Bellfield offers a range of options. The median property price for houses is approximately $945,000, with an annual growth of -0.53%. Rental yields for houses are around 2.93%, with a median weekly rent of $650.

Bellfield's blend of residential charm, accessible amenities, and recreational facilities contributes to its appeal as a suburb in Melbourne's northeastern corridor.

You’re out of free articles for this month
Loading form...