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Burnley

POSTAL CODE: VIC, 3121
HOUSE

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

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,425,000.

The downward trend in home prices in BURNLEY, 3121 averaged -2.98% per annum over a 3-year period.

Average weekly rents on listings have reached the $897.5 mark, reflecting a 3.28% increase in returns based on the current median price in BURNLEY.

An average of 0.92 real estate transactions take place per month in BURNLEY which translates to 11 per annum.

11 properties were sold in BURNLEY in 2016, making it the 703rd most active market in VIC based on total real estate transactions.

BURNLEY, 3121 places 29th in Australia based on median property value growth during the quarter.

Surburb overview

Burnley is an inner-city suburb located approximately 4 kilometres east of Melbourne's Central Business District. According to the 2021 Census, it has a population of 794 residents.

Public transportation in Burnley is well-developed. The Burnley railway station, situated near the corner of Swan Street and Burnley Street, provides residents with convenient train access. Additionally, tram route 70 operates along Swan Street, and bus route 603 connects Burnley Station to Brighton Beach via Elsternwick Station.

The suburb offers essential establishments, including local shops, cafes, and the Burnley Public Golf Course. Educational facilities in the area comprise the Burnley campus of the University of Melbourne, known for its horticultural studies, and Melbourne Girls' College, a public school for girls.

Burnley offers abundant recreational activities, including three significant parks: Ryan's Reserve, which hosts tennis and netball events; Golden Square Bicentennial Park; and Burnley Park, which houses Burnley Oval near Yarra Boulevard. The suburb is also home to the Kevin Bartlett Reserve, named after the former Australian rules footballer, which features multiple playing fields and a sporting complex.

In terms of housing, the median property price for houses in Burnley is approximately $1,488,000, with an annual compound growth rate of 14.0%.

Burnley offers a blend of residential living with access to essential services and recreational opportunities, all close to Melbourne's city centre.

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