Heidelberg West

POSTAL CODE: VIC, 3081
HOUSE
UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a 3.14% capital gain.

Property investors in HEIDELBERG WEST enjoyed capital gains of 1.19% over the last 12 months translating to lower returns compared with its peers in the territory.

The 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 $801,900.

Profits due to an upward trend in home prices there averaged 1.05% per annum over a 3-year period.

Home owners selling their properties and realtors in HEIDELBERG WEST usually have to wait an average of 54.2 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $550 mark, reflecting a 3.57% increase in returns based on the current median price in HEIDELBERG WEST.

HEIDELBERG WEST, 3081 places th in Australia based on median property value growth during the quarter.

Surburb overview

Heidelberg West, located approximately 10 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 5,252 residents.

The suburb is primarily residential, featuring a mix of older public housing and newer developments. Heidelberg West was initially developed in the 1950s by the Housing Commission to accommodate athletes for the 1956 Melbourne Olympics, leading to the establishment of the Olympic Village.

Heidelberg West offers several amenities, including the Bell Street Mall, which hosts around 80 businesses such as shops, grocery stores, and restaurants.

Heidelberg West offers a range of housing options. The median property price is approximately $800,000, which has grown annually by 4.58%. Rental yields for houses are around 3.25%, and the median weekly rent is $500.

Heidelberg West presents a blend of residential living, accessible amenities, and recreational facilities, contributing to its appeal as a suburb within Melbourne's northeastern corridor.

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