December 22, 2017
Rental Market Spotlight - Balwyn
As one of Melbourne's inaugural suburbs, Balwyn has evolved from humble farmland to consolidate its place among the city's top ten most exclusive localities.
Why renters love Balwyn
For Balwyn's fortunate locals there is little not to love about their slice of suburban paradise. Broad, tree-lined streets exude a serenity that belies the suburb's close proximity to Melbourne's CBD and world class amenities. Luxurious family homes and period properties remain among the suburb's most sought-after residences.
Situated a short 10 km from the city centre, Balwyn is well serviced by public transport. With the 109 tram, 302 and 304 bus routes, locals are rarely more than a short commute from all the action.
The vibrant Whitehorse Road shopping strip and a burgeoning cafe culture including local favourites Mr Hendricks, Town and Country and The Turkish Tea House, which are complemented by the area's stunning, native Manora Gardens, keeping residents of all ages entertained a little closer to home.
Balwyn residents enjoy easy access to diverse schooling options to suit their individual family needs. High achieving Balwyn High School and Fintona Girls' School are both in Balwyn, while Camberwell Girls' Grammar, Carey Grammar, Genazzano College, MLC and Camberwell Grammar are close by in neighbouring suburbs.
Why investors love Balwyn
A blue chip suburb, and with a well established reputation as among Melbourne's most desirable residential locations, Balwyn offers investors diverse property options from reasonably priced units to luxurious family homes, backed by consistent rental returns. Properties located within the heritage listed Reid Estate command a premium.
With parts of the suburb in the zone for high performing Balwyn High School, and in close proximity to parks, gardens, transport and the Melbourne CBD, Balwyn appeals to family-oriented tenants.
Balwyn's long standing reputation for exclusive family living is reflected in strong capital growth and high median house prices (the median house price in Balwyn rose to $2.3 million in 2017) .
Balwyn's desirability and amenity, coupled with high median house and unit prices, drive sustained demand for rental properties as well as steady rental returns for investors. As at December 2017 the median rent for a 4 bedroom house in Balwyn was $850 p/w while for a 2 bedroom apartment the median was sitting at $418 p/w.