Consistent high demand relative to supply is a key feature in Bellfield driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Bellfield due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. Low average earnings from people in Bellfield leads to lower quality housing which also negatively impacts the provision of facilities. As a consequence this area is often seen as less desirable, with lower quality of housing and slower price growth. Lower than average population density constrains growth in Bellfield to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. With very low industrial sector presence in Bellfield the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.
|18A DAVIDSON ST, BELLFIELD, VIC, 3081||4||3||3||EOI $1,500,000 - $1,600,000|
|58 WIMPOLE CR, BELLFIELD, VIC, 3081||3||1||2||EOI $810,000 - $890,000|
|UNIT 1, 150 LIBERTY PDE, BELLFIELD, VIC, 3081||3||2||1||Private Sale $695,000|
Waratah Special Developmental School(While the above schools are located with the suburb of Bellfield 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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