Balwyn North

POSTAL CODE: VIC, 3104
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BALWYN NORTH, 3104 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in VIC have risen as a whole, pulling BALWYN NORTH, 3104 values up and netting property investors a capital gain of 1.69% for the past year.

Investors saw the median home price rise to $2,338,800.

Profits due to an upward trend in home prices in the suburb averaged 0.53% per annum over a 3-year period.

BALWYN NORTH now ranks at the 508th place on a list of fastest growing suburbs in the territory.

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

Because of this real estate investors could earn a rental income of $875 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In BALWYN NORTH, homes and units usually stay on listing for an average of 62.6 days.

In 2016, 313 properties were sold in BALWYN NORTH during the past year, making it the 320th most active market in VIC based on total real estate transactions.

Surburb overview

Balwyn North, also known as North Balwyn, is a suburb in the City of Boroondara, approximately 10 kilometres east of Melbourne's Central Business District. According to the 2021 census, it has a population of 21,302.

The suburb is renowned for its open spaces, featuring numerous parks and recreational areas contributing to a relaxed lifestyle. Residents enjoy easy access to cafes, shops, supermarkets, schools, trams, and buses, enhancing the suburb's walkability and convenience.

Balwyn North is a family-friendly neighbourhood known for its outstanding schools and vibrant community atmosphere. The area offers modern amenities and suburban charm, making it attractive to families, professionals, and retirees.

The suburb's housing market reflects its desirability. The median property price is approximately $2,302,500. In the past year, 307 houses have been sold, and properties typically spend around 30 days on the market.

Balwyn North's combination of green spaces, educational institutions, and community amenities contributes to its distinctive character within Melbourne's eastern suburbs.

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