Nunawading

POSTAL CODE: VIC, 3131

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a 3.61% capital gain.

It 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 $1,182,500

The augmented property values in the suburb are trailing behind the territorial average of 2.91% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $650.

Home owners selling their properties and realtors in NUNAWADING usually have to wait an average of 57.4 days days before their assets are lifted off the market.

The VIC suburb ranks 445th on the list of best yielding suburbs for rental properties in VIC, posting a 2.86% return.

It also places places 151st in Australia based on median property value growth during the quarter.

A survey of average capital gains or median home price increase in suburbs across the country shows that NUNAWADING, 3131 obtained a 3.59% growth over a ten-year period. It ranks 1176th on our list of suburbs that property investors should look into.

NUNAWADING, 3131 has a capital gain of -9.14% for the past year, which is lower than average compared to its 6.29% growth within a five-year period.

With the median home price in NUNAWADING sitting at $845,000, and the average rent at $550, property owners could potentially earn a 3.38% increase in gross rental yield.

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

NUNAWADING, 3131 in VIC belongs to the local government area of Whitehorse.

Surburb overview

Nunawading is a suburb located approximately 18 kilometres east of Melbourne's Central Business District, within Whitehorse and the City of Manningham. According to the 2021 Census, it has a population of 12,413 residents.

The suburb is known for its tree-lined streets, a mix of renovated 1950s homes, and modern developments, offering various housing options.

Nunawading is a significant retail and commercial hub, particularly along Whitehorse Road. It is renowned for its "Mega Mile," a large retail strip featuring furniture, automotive dealerships, hardware stores, and electrical goods stores.

The suburb is well-served by public transportation, with the Nunawading railway station on the Belgrave and Lilydale lines providing residents convenient access to Melbourne and surrounding areas. Additionally, the Springvale Road grade separation project has improved traffic flow and connectivity within the suburb.

Educational facilities in Nunawading include Nunawading Christian College, Mount Pleasant Primary School, St. Philip's Primary School, and Whitehorse Primary School, which cater to the community's educational needs.

Recreational activities are abundant. The suburb is home to the Nunawading Swimming Club, the largest swimming club in the Southern Hemisphere. Various parks and sports facilities provide residents with ample opportunities for outdoor activities.

Nunawading offers a range of housing options, from classic mid-century homes to modern townhouses and apartments catering to diverse lifestyle needs. The suburb's green spaces and proximity to essential services make it an attractive location for families, professionals, and retirees.

Nunawading provides a harmonious blend of residential living, essential services, and recreational opportunities, making it a desirable suburb for those seeking a balanced lifestyle.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,182,500	$845,000
Growth Report
Median Quarterly	3.73%	5.16%
Median 12 month	2.38%	-9.14%
Median 3 years	3.61%	2.92%
Median 5 years	14.25%	6.29%
10 years average annual	3.82%	3.59%
Weekly media advert. rent	$650	$550
Time on Market	57.4 days	49.9 days
Gross Rental Yield Percent	2.86%	3.38%

Demographics (Median Values)*

Total Population 22504

Weekly Household Income 1428

Household Size 2.60

Average Age 39

Monthly Loan Repayment 1950

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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