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Bayswater is a delightful suburb that offers a harmonious blend of suburban tranquility and urban convenience, making it a charming place to call home. Nestled in Melbourne's eastern region, Bayswater is known for its welcoming community and family-friendly vibe. The suburb is surrounded by lush greenery and is in close proximity to the Dandenong Ranges, providing residents with ample opportunities for outdoor activities and a serene lifestyle. The local parks and recreational facilities are perfect for families looking to enjoy quality time together in a safe and peaceful environment.

For those who value convenience, Bayswater is well-equipped with a variety of amenities, including shopping centers, cafes, and schools, ensuring that all your daily needs are met without having to venture far from home. The suburb's excellent public transport options, including a train station on the Belgrave line, make commuting to the city and surrounding areas a breeze, adding to its appeal for professionals and families alike. Safety is generally not a major concern, contributing to the suburb's reputation as a secure and pleasant place to live.

While Bayswater offers a fantastic lifestyle, it does come with some trade-offs. The ongoing developments and infrastructure upgrades may lead to increased property values, which could be a consideration for potential homebuyers. Additionally, while the suburb provides a peaceful atmosphere, it may not offer the same level of nightlife and entertainment options as more central locations. However, for families and individuals seeking a balanced lifestyle with a strong sense of community and easy access to nature, Bayswater is a wonderful choice.

Living in Bayswater can be seen as moderately expensive, especially when you consider the local real estate market. The median house price is $887,500, and for those interested in units, the median price is $701,500. These figures are somewhat reflective of the broader Melbourne market, although Bayswater offers a slightly more affordable option compared to some of the more central suburbs.

When it comes to renting, Bayswater presents a relatively reasonable option with average rents sitting at $580 per week for houses and $530 for units. These rental prices are competitive, particularly when compared to the average rental costs in Melbourne's inner suburbs.

The median total household income in Bayswater is $1,598 per week, which is slightly below the average wage in Melbourne, which stands at $106,000 per year. This suggests that while Bayswater is not the cheapest suburb, it offers a balance between affordability and lifestyle. If you are thinking of living in Bayswater, it's important to weigh these costs against your income to ensure it fits within your budget.

Bayswater presents an intriguing opportunity for property investors, particularly those interested in rental income. Over the past year, the suburb has seen a modest increase in median house values by 1.8%, while unit values have risen more significantly by 5.6%. This suggests a growing interest in more affordable housing options, which is often a sign of a suburb on the rise.

What makes Bayswater particularly appealing for investors is the substantial increase in rental yields. House rents have jumped by 10.5%, and unit rents have surged by an impressive 15.2% over the last 12 months. This indicates strong demand from renters, likely driven by the suburb's affordability and accessibility. For investors, this means the potential for solid rental returns, making Bayswater an attractive option for those looking to generate steady income from their property investments.

Overall, while Bayswater may not be experiencing explosive growth in property values, its strong rental market and steady appreciation in unit prices suggest a stable investment environment. The suburb's appeal to renters and the potential for continued rental growth make it a promising choice for investors seeking a balance of income and gradual capital appreciation.