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Cheltenham

POSTAL CODE: VIC, 3192
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Property investments in CHELTENHAM did not fare well against the rest of the country last year, registering a median home price decrease of 5.3%.

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 CHELTENHAM, 3192 saw average growth in the long term.

Real estate investors could earn a rental income of $720 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 43 days.

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

Property investors perceived the median home price rise to $1,291,000.

CHELTENHAM ranks 435th on the list of best yielding suburbs for rental properties in VIC, posting a 2.9% return.

Surburb overview

Cheltenham is a suburb in Melbourne’s south-east, located about 18 kilometres from the Melbourne central business district.

The suburb lies primarily within the City of Bayside, with sections extending into the City of Kingston, and is bordered by Highett to the north, Beaumaris to the west, Mentone to the south and Heatherton to the east.

Cheltenham includes established residential areas alongside major retail, commercial and employment precincts.

Census data shows Cheltenham has a relatively large and diverse population compared with nearby suburbs. The demographic profile includes families, professionals and older residents, with a median age close to the Melbourne average.

Housing stock is varied, with detached houses forming a significant proportion, alongside townhouses and an increasing number of apartments, particularly near activity centres and transport corridors.

Public transport access is well developed. Cheltenham railway station is on the Frankston line, providing direct services to Flinders Street Station with typical travel times of around 35 minutes.

Additional stations at Southland and Highett enhance rail access, while bus routes operate along Bay Road, Centre Dandenong Road and Nepean Highway, linking the suburb to surrounding areas.

Local amenities are a defining feature of Cheltenham. Southland Shopping Centre is a major regional retail and employment hub, offering supermarkets, department stores, specialty retailers, dining and cinema facilities.

Smaller shopping strips along Charman Road and surrounding streets provide cafés, medical services and everyday retail.

Educational facilities include several primary schools within the suburb, with secondary schools and tertiary campuses located nearby.

Recreational facilities are widely distributed across Cheltenham. Cheltenham Park and other local reserves provide sporting ovals, playgrounds and open space for community use.

Golf courses, fitness centres and shared paths support organised sport and active recreation.
The Port Phillip Bay foreshore, including beaches at Beaumaris and Mentone, is accessible within a short drive or cycle, expanding leisure options for residents.

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