briar hill

3088, Victoria

Real Estate & Property Information

Median
Price Rank
211

briar hill Suburb Profile & Review

A charming hilly area full of winding roads, lush green trees and wide footpaths, Briar Hill offers its residents a quiet alternative to busy surrounding suburbs. Ideally located five minutes from Greensborough Plaza, Briar Hill boasts the Briar Hill Traditional Bakehouse, a fish and chip shop, a newsagent and a hairdresser.

An area that has still managed to retain its heritage appeal, Briar Hill is well-connected to Greensborough, Eltham and Montmorency through regular bus services. Montmorency Station and Greensborough Station are less than five minutes away and each transports commuters into the city on the Hurstbridge line. A swift thirty minute drive along the Eastern Freeway also leads directly into the inner city.

Briar Hill Primary School is the suburb's sole primary school. It benefits from a residential setting and intimate class sizes. Superior parkland and playgrounds in Woodlands Park and Johnston Reserve reinforce Briar Hill's standing as a first-rate family-friendly suburb.

briar hill Demographic Data

$ 545,250 Median House Price

34 Minutes Average Commute

39 Median Age

3,092 Population

53.30 % Female

46.70 % Male

905 NO OF FAMILIES

1.8 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in briar hill, Victoria.

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briar hill Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

briar hill Median House Prices

  • 2008 $ 387,500
  • 2009 $ 410,000
  • 2010 $ 450,000
  • 2011 $ 590,000
  • 2012 $ 545,250

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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briar hill 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in briar hill have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term briar hill property price predictions.

briar hill Market Property Types

  • 81 % Seperate House
  • 17 % Semi Detached
  • 2 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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briar hill Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

briar hill Income & Mortgage Stats

  • $ 1,375 Median Weekly Household Income
  • $ 1,820 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in briar hill

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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briar hill Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

briar hill Sold Property Prices

briar hill Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

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Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

briar hill Restaurants

  • Moon & SpoonCnr Sherbourne And Mountainview Roadsbriar hill VIC 308803 9434 4222
  • Briar Hill Fish And Chips111 Mountain View Rd briar hill VIC 308803 9435 6502

briar hill Schools

  • Briar Hill Primary School25 Gladstone Rdbriar hill VIC 3088(03) 9435 1633State Primary School
  • Sherbourne Primary SchoolOutlook Crescentbriar hill VIC 3088(03) 9434 7142State Primary School

briar hill Kindergarten and Preschools

  • Briar Hill Preschool118 Karingal Drivebriar hill VIC 3088

Find out How Much your House is Worth in briar hill

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