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Greensborough

POSTAL CODE: VIC, 3088
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A steady increase in median property prices over a five-year period in the suburb translates to a 2.85% capital gain.

Property investors in GREENSBOROUGH enjoyed capital gains of 0.34% 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 $1,028,500.

Profits due to an upward trend in home prices there averaged 0.95% per annum over a 3-year period.

Home owners selling their properties and realtors in GREENSBOROUGH usually have to wait an average of 42.9 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $620 mark, reflecting a 3.13% increase in returns based on the current median price in GREENSBOROUGH.

GREENSBOROUGH, 3088 places th in Australia based on median property value growth during the quarter.

Surburb overview

Greensborough, located approximately 17 kilometres northeast of Melbourne's Central Business District, is a suburb within the City of Banyule and the Shire of Nillumbik. According to the 2021 census, it has 21,070 residents. 

Public transportation in Greensborough is well-developed. The suburb is served by the Greensborough railway station on the Hurstbridge line, providing regular services to Melbourne's CBD. Additionally, multiple bus routes connect Greensborough to surrounding areas, enhancing its accessibility.

Essential establishments in Greensborough include the Greensborough Plaza, a major shopping centre offering a variety of retail stores, supermarkets, and dining options. The suburb also boasts excellent healthcare facilities, including the nearby Austin Hospital and various medical clinics. A range of primary and secondary schools and proximity to tertiary institutions like La Trobe University serve educational needs.

Recreational activities are abundant, with the Plenty River Trail and Kalparrin Gardens providing green spaces for outdoor pursuits such as walking, jogging, and picnicking. The WaterMarc Aquatic and Leisure Centre offers swimming pools, a gym, and various fitness classes for all ages.

The housing market in Greensborough is diverse, offering a mix of modern apartments, traditional family homes, and spacious townhouses. The median house price is approximately $1,025,000, and annual capital growth is 7.84%. Rental yields for houses are currently 3.19%, and the median rent is $600 per week.

Greensborough's combination of accessible transportation, essential services, educational facilities, and recreational spaces contributes to its appeal as a residential suburb in Melbourne's north-east.

 

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