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Upper Ferntree Gully

POSTAL CODE: VIC, 3156
HOUSE

Property investments in UPPER FERNTREE GULLY fare well against the rest of the country last year, registering a median home price increase of 8.24%.

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

Based on its average 5-year and quarterly capital gains UPPER FERNTREE GULLY, 3156 saw average growth in the long term.

Real estate investors could earn a rental income of $620 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 29.9 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $920,000.

UPPER FERNTREE GULLY ranks 313th on the list of best yielding suburbs for rental properties in VIC, posting a 3.5% return.

Surburb overview

Upper Ferntree Gully is an outer-eastern suburb of Melbourne located within the City of Knox at the western foothills of the Dandenong Ranges. The suburb is situated approximately 33 kilometres east of the Melbourne central business district and lies between Ferntree Gully, Upwey and forested areas of the Dandenong Ranges.

Upper Ferntree Gully recorded a population of around 3,700 residents at the 2021 census. The demographic profile includes a high proportion of families and long-term residents, with a median age above the metropolitan average.

Housing in Upper Ferntree Gully is predominantly detached dwellings, including older homes and cottages set on leafy streets and sloping blocks. Residential density is low, with limited townhouse or apartment development and strong environmental and heritage influences on the built form.

Public transport access is a defining feature for an outer-eastern suburb, with Upper Ferntree Gully railway station located on the Belgrave line. The station provides direct train services to the Melbourne CBD and the eastern suburbs, and serves as a key access point for nearby hill communities.

Bus services operate through the suburb, connecting residential areas with neighbouring suburbs and local facilities. Road access is primarily via Burwood Highway, which provides east–west connectivity and links to nearby arterial road networks. 

Local retail and service amenities are modest in scale, centred around a small shopping strip that includes cafés, takeaway outlets and everyday services. Residents rely on nearby centres such as Ferntree Gully, Upwey and Knox City for supermarkets, medical services and broader retail options. Educational facilities include local primary schools, with secondary schools located in surrounding suburbs and accessible by train or car.

Recreational amenities are a significant feature, with direct access to the Dandenong Ranges National Park, which supports bushwalking, hiking and nature-based activities. The Kokoda Track Memorial Walk, commonly known as the 1000 Steps, is located nearby and attracts visitors for fitness and recreation. 

Local reserves, playgrounds and sporting grounds provide opportunities for organised sport and informal recreation. Tree-lined streets, bushland interfaces and elevated views contribute to a semi-rural atmosphere despite proximity to metropolitan Melbourne.

Upper Ferntree Gully’s identity is shaped by its rail access, low-density housing and close connection to the natural landscapes of the Dandenong Ranges.

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