Burwood is a suburb 14 km east of Melbourne's CBD and is a popular option for a number of buyers. Burwood real estate has largely been of interest to two categories of property seekers - families with children and students. Like many of east Melbourne suburbs, Burwood real estate is appealing for its relative CBD proximity, suburban charm and buffer from inner city chaos, similar to Box Hill, Ashburton, Chadstone and even Mount Waverley.
Schools and colleges complementing Burwood real estate
Importantly, there are a bevy of reputable secondary schools within close distance for home buyers' which is a significant factor in property considerations. Schools include such as Siena College, Trinity Grammar and Xavier College are approximately 10km away, making Burwood a key suburb for families wanting to buy real estate in the area.
Burwood's property seeking pool certainly also include students attending Deakin University's Burwood campus and Monash university close by. With this, Burwood's rental population accounts for 26% of its overall market - an appealing suburb for real estate investors and renters alike. According to propertyDATA.com.au, renters and buyers can expect to pay around $328 and $1,120,000 respectively to secure a piece of Burwood real estate - a far cry from its fellow east Melbourne suburbs such as Kew which currently commands $1,609,750 for a property for sale. Such price comparisons may support why Burwood real estate is at present the fourth growing suburb in Melbourne- increasing since December 2014 quarter 16.1%.
The lifestyle which comes with Burwood
Aside from Burwood real estate's relative affordability and Burwood suburb growth, there are a number of lifestyle and cultural qualities that facilitate its popularity. Local amenities at a Burwood home buyer's disposal include Gardiner's creek, shopping centres, several sporting ovals and both bus and tram routes running into the CBD. While Burwood real estate does not on average punch with the same strength as its heavy weight neighbours such as Kew, Camberwell and Hawthorn for seven figure sales prices, its growth suggest it may not be far away. For families in search of price and location, renters or investors on the lookout for high rental demand locations- Burwood real estate could be worth giving a second look.