Surrey Hills

POSTAL CODE: VIC, 3127
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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 $2,265,000.

The downward trend in home prices in SURREY HILLS, 3127 averaged -0.44% per annum over a 3-year period.

Average weekly rents on listings have reached the $850 mark, reflecting a 1.95% increase in returns based on the current median price in SURREY HILLS.

An average of 13.42 real estate transactions take place per month in SURREY HILLS which translates to 161 per annum.

161 properties were sold in SURREY HILLS in 2016, making it the 548th most active market in VIC based on total real estate transactions.

SURREY HILLS, 3127 places 558th in Australia based on median property value growth during the quarter.

Surburb overview

Surrey Hills is a picturesque suburb located approximately 11 kilometres east of Melbourne's Central Business District. According to the 2021 Census, it has 13,655 residents, with a median age of 42.

The suburb is renowned for its tree-lined streets and historic architecture. A mix of Edwardian and Victorian-era homes complements its timeless elegance. This heritage appeal is complemented by modern residences, offering a diverse range of housing options.

Surrey Hills boasts a vibrant community atmosphere, charming cafes, and diverse shopping options. The local shopping village along Union Road provides boutique stores, gourmet restaurants, and essential services to meet residents' daily needs. For more extensive shopping, nearby Camberwell and Box Hill offer a wider array of retail and dining establishments.

The suburb is well-served by public transportation, including the Surrey Hills railway station on the Lilydale and Belgrave lines, providing residents convenient access to Melbourne and surrounding areas. Additionally, tram routes 70 and 75, as well as several bus routes, enhance connectivity within the suburb and neighbouring districts.

Surrey Hills offers diverse recreational activities, including several parks and green spaces. Surrey Gardens and South Surrey Park provide picturesque settings for picnics, walking, and outdoor activities. The suburb is also home to various sporting clubs, including the Surrey Hills Cricket Club and the Surrey Park Swimming Club, which cater to multiple interests.

In terms of housing, the median property price for a house in Surrey Hills is approximately $2,300,000, with an annual capital growth of -1.44%. Rental yields for houses are currently around 2.13%, with a median weekly rent of $850.

Surrey Hills offers a harmonious blend of historic charm and modern convenience, making it a highly sought-after location for families, professionals, and retirees.

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