Thinking about buying in Bakery Hill? Now could not be a better time, with just 340 residential dwellings it's a highly sought after location.
The average property price for this area is $694,000 with prices in this suburb ranging from $302,000 to $1,350,000.Distance to the coast is 73 Km.
Good balance between supply and demand ensures a range of affordable options within budget limits. Recent increases in listings may provide buying opportunities. High average incomes in Bakery Hill ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. A mix of professions and above average income earners in Bakery Hill provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Medium density in Bakery Hill necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. Lower than average industry presence in Bakery Hill we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Bakery Hill a better buying opportunity than it may have been in the past.
|Median Weekly Rent||$293.22|
|Median Monthly Mortgage||$1367.56|
|Median Persons Per Bedroom||0.71|
|Average Household Size||2.00|
|Average Cars Per Dwelling||2.04|
|Average Properties Within 50M||15.00|
|UNIT 2, 15 STEINFELD ST NORTH, BAKERY HILL, VIC, 3350||2||2||1||$475,000 - $495,000|
None within suburb boundary(While the above schools are located with the suburb of Bakery Hill there may also be nearby schools whose catchments cover this suburb)
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source: Australian Government Bureau of Meteorology
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