Bayside is one of the most highly sought after pockets within Melbourne and it is a suburb that over the past couple of years has maintained steady positive capital growth. Bayside is located south east of Melbourne and includes several prestigious suburbs including Kew, Camberwell, Balwyn, Middle Park, East Melbourne, Malvern, Brighton, Canterbury, Kooyong and Toorak. Many of the suburbs within Bayside are in a convenient location, with many being located in a relatively close proximity to the city and also beaches including the coastline. The last research done on population was in 2018 and at the time there were 105,718 residents (this number is likely to have grown since then with many people choosing to move into the area since).
Will the Bayside property prices ever go down?
The property market can fluctuate and when investing in property it is securing the right grade of property that is most important because A grade properties typically always have a positive upward trend long term. As you are about to see with the suburbs we have done research on over the past 5 years, the prices have tended to maintain steady upward growth despite fluctuating market conditions. This is likely to continue into the future and many buyers will have the chance to take advantage of the growth when securing A-grade property.
KEW
Kew is an affluent suburb located only 5km from Melbourne CBD. Kew provides access to the eastern freeway, St Vincent’s Private Hospital, Studley Park. Kew is part of the Boroondara municipality and the median age for the suburb is 41.
According to the REA Property insights (including data from the Australian Bureau of Statistics Census 2021), 50.5% of the dwellings within Kew are houses, 25.7% are flats/units/apartments, 23.6% are semi-detached and there are 0.2% other types of dwellings. 42.6% of residents within Kew own their home, 31.3% are currently purchasing their home, 25.4% rent privately, 0.5% rent government and 0.3% are other.
Median House Price Growth for Kew:
The median house price for Kew is currently $2,960,500 and as you can see this has been a positive increase over the past 5 years from the 2017 median price of approximately $2,290,000. The median unit price for Kew is currently $806,000 which is a positive increase from the approximate median unit price 7 years ago of $720,000.
CAMBERWELL:
Camberwell is a suburb which is centred around the Camberwell junction and is located 9km east of the CBD. Camberwell has many parks which are popular including Frog Hollow Reserve, South Surrey Park and Lynden Park and it also offers a major rail junction which makes transport via public transport easily accessible (including connecting to the Alamein and Ringwood train lines).
According to the REA Property insights (including data from the Australian Bureau of Statistics Census 2021), 60.3% of the dwellings within Camberwell are houses, 17.4% are flats/units/apartments, 21.7% are semi-detached and there are 0.6% other types of dwellings. 45.7% of residents within Camberwell own their home, 31.4% are currently purchasing their home, 22.4% rent privately, 0.2% rent government and 0.3% are other.
Median House Price Growth for Camberwell:
The median house price for Camberwell is currently $2,658,000 and as you can see this has been a positive increase over the past 5 years from the 2017 median price of approximately $2,100,000. The median unit price for Camberwell is currently $964,000 which is a positive increase from the approximate median unit price 7 years ago of $660,000.
BALWYN:
Balwyn is a suburb which offers a lot of parks including Manaroa Gardens Beckett Park, Gordon Bernard Reserve and Greythorn Park. Balwyn is located 10km east of Melbourne CBD. Whitehorse road in Balwyn also offers a lot of commercial space and businesses.
According to the REA Property insights (including data from the Australian Bureau of Statistics Census 2021), 58.7% of the dwellings within Balwyn are houses, 15.2% are flats/units/apartments, 26% are semi-detached and there are 0.1% other types of dwellings. 45.7% of residents within Balwyn own their home, 29.3% are currently purchasing their home, 23.6% rent privately, 0.6% rent government and 0.7% are other.
Median House Price: Growth for Balwyn
The median house price for Balwyn is currently $2,680,000 and as you can see this has been a positive increase over the past 5 years from the 2017 median price of approximately $2,280,000. The median unit price for Balwyn is currently $1,030,000 which is a positive increase from the approximate median unit price 5 years ago of $870,000.
MIDDLE PARK:
Middle Park is a suburb which is located 5km south of Melbourne CBD, and within the City of Port Phillip. Middle Park is famously known for being located between Port Phillip and the Albert Park Lake, and is a suburb offering many sought after restaurants and café’s including the famously know Middle Park Hotel. Many people who visit Middle Park are drawn to the beach, boutique shops and vast array of recreational activities which are on offer (including close access to the Melbourne Sports and Aquatic Centre (MSAC) and more!
According to the REA Property insights (including data from the Australian Bureau of Statistics Census 2021), 58.1% of the dwellings within Middle Park are semi-detached, 26.5% are flats/units/apartments, 14.9% are houses and there are 0.6% other types of dwellings. 44.6% of residents within Middle Park own their home, 26.7% are currently purchasing their home, 28.5% rent privately, and 0.2% are other.
Median House Price Growth for Middle Park:
The median house price for Middle Park is currently $2,775,000 and this has been a positive increase over the past 5 years from the 2017 median price of approximately $2,100,000. The median unit price for Balwyn is currently $720,000
EAST MELBOURNE:
East Melbourne is a well-established, affluent area which is known for the stand out terraces, art deco buildings (many of which are listed on the Victorian Heritage Register) and many parks. Spring Street in East Melbourne offers ample food choice through many European style cafes and musicals through the Princess Theatre. Parliament house, the Old Treasury Building and St Patrick’s Catholic Cathedral are also within the vicinity as well as the Melbourne Cricket Ground. Local hospitals are also easily accessible including The Royal Victorian Eye and Ear Hospital Freemasons Hospital and the Peter MacCallum Cancer Institute.
According to the REA Property insights (including data from the Australian Bureau of Statistics Census 2021), 74% of the dwellings within East Melbourne are flats/units/apartments, 22.6% are semi-detached, 3.2% are houses and 0.1% are other. 49.4% of residents rent privately, 30% own their own home, 19.9% are in the process of purchasing, 0.2% rent government properties and 0.4% have other arrangements.
Median House Price Growth for East Melbourne:
The median house price for East Melbourne is currently $3,395,000 which has positively increased over the past 5 years. The median unit price for East Melbourne is currently $827,500 which is a positive increase from the approximate median unit price 5 years ago of $800,000.
MALVERN:
Malvern is an inner suburb located 8km south-east of Melbourne CBD and within the City of Stonnington. Malvern is well known for the stunning outdoor areas including the Malvern Public Gardens, Central Park, Hedgeley Dene Gardens, Phoenix Park, Malvern Town Hall, Malvern Urban Forest, St John’s Anglican Church, The Sun & The Moon Sculpture, Gardiniers Creek, Sir Robert Menzies Reserve and there is also access to many shops which are located within the Malvern Central Shopping Centre.
According to REA Property Data (including the Australian Bureau of Statistics Census 2021), 45.9% of the properties located in Malvern are houses, 30.9% are flats/units/apartments, 19.5% are semi-detached and 3.8% are other types. 44.7% of residents within Malvern own their home, 30.3% are currently purchasing their home, 24.3% rent privately, 0.5% rent government and 0.2% are other.
Median House Price Growth for Malvern:
The median house price for Malvern is currently $3,300,000 and as you can see this has been a positive increase over the past 5 years from the 2017 median price of approximately $2,700,000. The median unit price for Malvern is currently $711,500 which is a positive increase from the approximate median unit price 5 years ago of $600,000.
BRIGHTON:
Brighton is an affluent suburb located 11km south of Melbourne CBD. Brighton is an established suburb which is well known for the vibrant bathing boxes which can be found at the Dendy Street Beach. Brighton offers many recreational activities including the Brighton Baths, Royal Brighton Yacht Club and the Middle Brighton Pier and breakwater. The North Road Pavilion is also a popular café which is located at the end of North Road and offers stunning views of Melbourne across the Port Phillip Bay.
According to the REA Property Insights (including data from the Australian Bureau of Statistics Census 2021), 57.2% of the dwellings within Brighton are houses, 19.8% are flats/units/apartments, 22.4% are semi-detached and 0.6% are other. 48.3% of residents within Brighton own their home, 30.1% are currently purchasing their home, 20.8% rent privately, 0.4% rent government and 0.3% are other.
Median House Price Growth for Brighton:
The median house price for Brighton is currently $3,700,000 and as you can see this has been a positive increase over the past 5 years from the 2017 median price of approximately $2,650,000. The median unit price for Brighton is currently $1,270,000.
CANTERBURY:
Canterbury is located 10km east from Melbourne’s CBD, within the City of Boroondara. Canterbury is well known for offering many stunning Victorian and Edwardian homes, with some of them being in Alexandra Avenue, Monomeath Avenue and Victoria Avenue. Canterbury is often a popular suburb for families with easy access to transport, many choices of food available along Maling Road, and many prestigious schools.
According to the REA Property insights (including data from the Australian Bureau of Statistics Census 2021), 64.7% of the dwellings within Canterbury are houses, 23.4% are semi-detached, 11.1% are flats/units/apartments and 0.9% are other. 51.6% of residents within Canterbury own their home, 32.6% are currently purchasing their home, 15.2% rent privately, 0.3% rent government and 0.3% are other.
Median House Price: Growth for Canterbury
The median house price for Canterbury is currently $3,150,000 and as you can see this has been a positive increase over the past 5 years from the 2017 median price of approximately $2,650,000.
KOOYONG:
Kooyong is located 7km southeast of Melbourne CBD and within the City of Stonnington. Kooyong is well known for the superb Kooyong Lawn Tennis Club. Kooyong also offers many options of travel through public transport including access to the train station and trams which travel along Glenferrie Road and Toorak Road.
According to the REA Property insights (including data from the Australian Bureau of Statistics Census 2021), 43.6% of the dwellings within Kooyong are houses, 42.3% are flats/units/apartments and 14.1% are semi-detached. 47.6% of residents within Kooyong own their home, 32.5% are currently purchasing their home and 19.9% rent privately.
TOORAK:
Toorak is an inner suburb which is 5km south-east of Melbourne CBD and within the City of Stonnington. Toorak is well known for being an elite suburb in Melbourne and the main street is Toorak Road which is famously known for Toorak Village. Toorak Village offers plenty of choice for delicious food and a unique range of shops. Some of the most prestigious schools are offered in Toorak including St Catherine’s School, Toorak Primary School, Loreto Mandeville Hall, St Kevin’s College, Glamorgan, Toorak Central School and Geelong Grammar School (Toorak Campus).
According to the REA Property insights (including data from the Australian Bureau of Statistics Census 2021), 30.4% of the dwellings within Toorak are houses, 49.8% are flats/units/apartments and 19.8% are semi-detached. 46.7% of residents within Toorak own their home, 24.8% are currently purchasing their home, 28% rent privately, 0.1% rent government and 0.4% are other.
Median House Price Growth for Toorak:
The median house price for Toorak is currently $5,550,000 and as you can see this has been a positive increase over the past 5 years from the 2017 median price of approximately $5,600,000.
If you would like to find out more about the abovementioned suburbs, including how our director Paul Murphy can find the right property for you, then you are welcome to arrange a complimentary consultation right here. We would love to help you find the right property, for the best price and terms.
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