Thinking about buying in Neerim East? Now could not be a better time, with just 122 residential dwellings it's a highly sought after location.
The average property price for this area is $648,000 with prices in this suburb ranging from $594,000 to $702,000.Distance to the coast is 49 Km.
Consistent high demand relative to supply is a key feature in Neerim East 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 Neerim East due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. A mix of professions and above average income earners in Neerim East provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Lower than average population density constrains growth in Neerim East 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 Neerim East 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.
|Median Weekly Rent||$172.00|
|Median Monthly Mortgage||$2080.00|
|Median Persons Per Bedroom||0.80|
|Average Household Size||2.00|
|Average Cars Per Dwelling||2.62|
|Average Properties Within 50M||1.00|
|330 FRASER SPUR RD, NEERIM EAST, VIC, 3831||4||2||2||Contact Agent|
None within suburb boundary(While the above schools are located with the suburb of Neerim East 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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