Immigrants Are Pushing House Prices Higher
Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?
burnley
3121, Victoria
Real Estate & Property Information
Median
Price Rank 70
Price Rank 70
burnley Suburb Profile & Review
Generally considered part of the greater Richmond area, Burnley is a residential district, bordered by the Yarra on its southern and eastern edges. There are two pubs at the Burnley end of Swan Street, the Rising Sun - a favourite with locals wanting to catch the latest sports match; and The Grand a more upmarket venue which has a highly reputable restaurant that serves Italian-based pub food with a twist.
On Burnley Street is a magnificent Greek Orthodox Church that caters to the many residents of Greek origin. Swan Street is home to a number of building and furniture supply shops, and continues right up to the railway bridge.
Burnley Station is located just off Swan Street and is a premium station where the Glen Waverley, Lilydale and Belgrave/Alamein train lines intersect. Tram route 70 travels along Swan Street towards Box Hill.
Invest/Buy/Sell Checklist
Research
- 7 Tips On How To Buy/Sell
- Property/Suburb Report
- Buyer/Vendor Advocacy
- Finance Strategy & Lending
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7 Tips On How To Buy/Sell Enquiry
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Property/Suburb Report Enquiry
Our free basic suburb report will provide you with a basic snapshot of your suburb’s performance, the types of properties selling in the area and what they are selling for, while our custom report is a very specific property report customised for your property, its specific price range and qualities.
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Buyer/Vendor Advocacy Enquiry
Receive Independent Advice about Buying or Selling Our qualified buyer and vendor advocates can help you build your property portfolio with quality capital growth properties or conversely help you sell your property. Their thorough processes are designed to suit your specific needs, and their independent advice can take the stress out of the buying and selling process.
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Finance Strategy & Lending Enquiry
Hone Your Financial Knowledge by Speaking to a Finance Broker
Obtain personalised service you can’t find at a bank. Educate yourself about the financial issues involved with buying and selling a property by speaking to a qualified finance broker. They will advise you regarding the best finance options available to you. They can also discuss methods to create wealth and improve your cash-flow.
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Due Diligence
- Ownership Structure
- Property Valuation
- Rental Appraisal
- Sale Contract Review
- Building & Pest Inspection
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Ownership Structure Enquiry
Are you financially structured the right way to invest in property?
Talk to a professional who is able to sit down with you and assess your goals and structure your finances in a way that will help you invest in property for the long-term.
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Property Valuation Enquiry
Have you bought your first investment property and don’t know where to start when it comes to management or just looking for a change? Find a property manager that specialises in customer service, communication, minimal rental arrears, routine inspections and quality tenants.
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Rental Appraisal Enquiry
Have you bought your first investment property and don’t know where to start when it comes to management - or are you just looking for a change? Find a property manager that specialises in customer service, communication, minimal rental arrears, routine inspections and quality tenants.
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Sale Contract Review Enquiry
Check your Contracts Before Making an Offer
If you are serious about purchasing or selling a property with the least hassle then you should engage the services of a reputable conveyancer or lawyer who specialises in property. Have your contracts looked over before buying your next dwelling, for any possible concerns like easements, titles and any caveats, body corporate rules, zoning and planning potential issues.
What is Conveyancing?
Conveyancing is the term used to describe the way that a title, rights or interest in land is legally transferred from one person to another.
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Building & Pest Inspection Enquiry
Understand the Condition of Your Property Before You Buy
Avoid any nasty surprises before purchasing your property. Request a building and pest inspection report. This report will tell you everything you need to know about the condition of the property, including interior and exterior defects, termite activity and the presence of environmental dangers such as asbestos.
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Post Purchase
- Landlords Insurance
- Depreciation Schedule
- 1. Capital works allowance (Division 43) Takes into account the construction costs of the building itself, such as concrete and brickwork
- 2. Plant and equipment (Division 40) A deduction available for removable assets identified by the ATO that depreciate at a faster rate than the building eg carpet, dishwasher, blinds, ovens.
- Removalist
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Landlords Insurance Enquiry
Get Peace of Mind with Quality Landlord Insurance Protection?
Buying an investment property for the first time? Concerned about tenants damaging your property, rental loss or losing your job and being unable to pay your mortgage?
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Depreciation Schedule Enquiry
What is a Depreciation Schedule?
A depreciation schedule of your investment prepared by a Quantity Surveyor for the purpose of claiming against your taxable income. There are two main elements taken into account when preparing this report.
Tax Depreciation Calculator
Get an estimate of the likely depreciation deductions using the following Tax Depreciation Calculator
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Removalist Enquiry
Find the Best Removalist for the Job
Take the stress out of relocating by getting in touch with an efficient and qualified removalist team. Professional removalists can help you with packing, loading and unloading during your local or interstate move.
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Adding value
- Planning & Permits
- Trades
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Planning & Permits Enquiry
Find Out Whether Your Property Has Development Potential
Would you like to find out whether your property is subdividable and if you can increase the value of your property by obtaining plans and permits? Or you are looking to extend or renovate your new purchase and need plans and permits?
Our property development experts review whether your property is suitable for development. They carry out the due diligence on the development potential of your property, look at the options available to you (fully costed and assessed), discuss a development strategy, prepare plans to submit to a town planner and local council, and work through applications to achieve town planning approval.
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Trades Enquiry
Find a Qualified Local Tradesperson
Finding a qualified and reputable local tradesperson can be a hassle, whether you’re looking for an electrician, carpenter, plumber, builder, handyman, gardener or carpet cleaner. Be connected with the right tradesperson today.
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burnley Demographic Data
$ 810,000 Median House Price
11 Minutes Average Commute
32 Median Age
738 Population
48.78 % Female
51.22 % Male
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 burnley, Victoria.
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burnley 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.
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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burnley 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 burnley 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 burnley property price predictions.
burnley Market Property Types
- 22 % Seperate House
- 36 % Semi Detached
- 42 % 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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burnley 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.
burnley Income & Mortgage Stats
- $ 1,833 Median Weekly Household Income
- $ 2,167 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 burnley
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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burnley 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.
burnley Sold Property Prices
178 STAWELL ST
12 MADDEN GROVE
15 BARROW PLACE
46 ADAM STREET
50 GIBDON STREET
9 ADAM STREET
burnley 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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- Edward Hobbs
- Biggin Scott
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- Michael Amarant
- Hocking Stuart
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- Carl Carrubba
- Peter Markovic Real Estate
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burnley Related Local Blog Posts
Hangover Stock Brings About Buying Opportunities
This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….
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?
burnley Restaurants
- Bridge Hotel642 Bridge Rdburnley VIC 312103 9429 5734
burnley Sporting Centres and Clubs
- Richmond, K.Bartlett Sport & Rec Complexburnley VIC 3121Soccer Club
- Burnleyburnley VIC 3121Golf Course
Find out How Much your House is Worth in burnley
Request a free market Basic Report for burnley to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.
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