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Beveridge suburb profile

Beveridge is a rapidly growing suburb located in Victoria, approximately 42km north of Melbourne's CBD. Known for its semi-rural charm and expansive landscapes, Beveridge offers a peaceful lifestyle with a strong sense of community. The suburb is home to historic sites such as the birthplace of infamous bushranger Ned Kelly, adding a touch of historical intrigue. With new housing developments and infrastructure projects underway, Beveridge is attracting families and investors looking for affordable living options within reach of the city. Its proximity to the Hume Freeway ensures convenient access to Melbourne and surrounding areas.

Beveridge property market performance

Beveridge's property market has remained stable over the past 12 months, with the median house price holding steady at $650,000. There has been no change in house values, and the suburb does not currently have a unit market. Over the last three months, 39 houses were sold, indicating a consistent level of sales activity.

Houses in Beveridge are taking longer to sell, with a median of 123 days on the market, suggesting a more cautious buyer approach. The rental market for houses has seen a moderate increase, with average rent rising by 5.6% to $475 over the past year, reflecting a steady demand for rental properties in the area.

HousesUnits
Median price
Past 3 months
$650KN/A
Change in value
Past 12 months
-3.7%N/A
Sold
Past 3 months
39N/A
Median days on market
Past 12 months
123N/A
Average rent
Past 12 months
$475N/A
Change in rent
Past 12 months
5.6%N/A

5 year median price trend for houses and units

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Beveridge demographics

Beveridge, located in Victoria, is a growing suburb that offers a blend of rural charm and suburban convenience. With a population of 4,642, Beveridge is attracting families and young professionals who are drawn to its spacious living and community-oriented atmosphere. The median age of 32 suggests a youthful and dynamic community, with many residents likely to be young families or professionals starting their journey in homeownership.

The suburb is characterized by a high percentage of couple families with children, making up 60.6% of the population. This indicates that Beveridge is a family-friendly area, with amenities and services catering to the needs of children and parents alike. The presence of couple families without children (27.9%) and one-parent families (10.9%) adds to the diversity of the community, fostering a supportive and inclusive environment.

Property ownership in Beveridge is predominantly mortgage-based, with 66.4% of homes owned with a mortgage. This reflects the suburb's appeal to new homeowners and those looking to invest in property. Only 15.9% of properties are owned outright, while 17.7% are rented, indicating a stable housing market with opportunities for both buyers and renters. Beveridge's combination of affordability, community spirit, and proximity to Melbourne makes it an attractive option for those seeking a balanced lifestyle.

Beveridge infrastructure, key developments and investment opportunities

Beveridge is experiencing significant growth and development that is likely to impact its property market. The suburb is undergoing rapid residential expansion, with new estates like Mandalay and Ooranya offering a range of housing options and amenities. These developments are attracting new residents to the area, potentially increasing demand for properties and services.

Infrastructure improvements are also underway to support the growing population. The Greater Beveridge Community Centre provides essential services and a local library, enhancing community facilities. Additionally, the nearby Mount Fraser offers recreational opportunities and scenic views. While specific details on major infrastructure projects are limited, the ongoing residential development suggests continued investment in local amenities and services to cater to the expanding community.

Beveridge rental market trends

The rental market in Beveridge has experienced moderate growth, with house rents increasing by 5.6% over the past year to $475 per week. However, there is no data available for unit rents, indicating a potential lack of unit rental options in the area. As Beveridge continues to develop, it presents opportunities for investors focusing on house rentals in this emerging suburb.

Suburbs near Beveridge

Some popular suburbs near Beveridge include:

How does Beveridge compare to nearby suburbs?

  • Median house prices: Beveridge’s median house price is 7.4% higher than Wallan’s.
  • House price growth: Property prices in nearby Wallan have risen 2.5% more than in Beveridge over the past year.
  • Selling speed for houses: Properties in nearby Wallan are selling 28.5% faster than in Beveridge.
  • House price growth: Over the past 12 months, house prices in Beveridge have grown 36.1% lower than the average rate of growth across Melbourne.

Common questions about Beveridge

  • Is Beveridge a nice place to live?

    Beveridge is a delightful suburb that offers a serene and family-friendly environment, making it a wonderful place to call home. With its semi-rural charm and expansive landscapes, Beveridge provides a peaceful lifestyle that is perfect for those looking to escape the hustle and bustle of city life. The suburb is known for its strong sense of community, where families can enjoy a supportive and inclusive atmosphere. The presence of historic sites, such as the birthplace of the infamous bushranger Ned Kelly, adds a unique touch of historical intrigue to the area.

    Families will find Beveridge particularly appealing due to its spacious living options and community-oriented vibe. The suburb is well-suited for those who appreciate a balance between suburban convenience and rural tranquility. While Beveridge may not offer the nightlife and entertainment options of inner-city areas, it compensates with its proximity to nature and outdoor recreational opportunities, such as the nearby Mount Fraser. The suburb's location near the Hume Freeway ensures convenient access to Melbourne and surrounding areas, making it an ideal choice for commuters.

    However, living in Beveridge does come with some trade-offs. As a rapidly growing suburb, ongoing development may lead to increased demand for properties and services, potentially impacting the local infrastructure. While this growth brings new amenities and housing options, it may also result in a more dynamic and bustling environment over time. Despite these changes, Beveridge remains a safe and welcoming suburb, offering a balanced lifestyle for families and individuals seeking affordability and a strong community spirit. Overall, Beveridge is a charming place to live, with its blend of rural charm and suburban convenience making it an attractive option for many.

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  • Is it expensive to live in Beveridge?

    Living in Beveridge presents a unique blend of affordability and lifestyle, especially when compared to the broader Victorian property market. The median house price in Beveridge is currently around $611,500, which is relatively affordable when compared to the median house prices in more central Melbourne suburbs. Units are even more budget-friendly, with a median price of $282,000, offering an attractive option for those looking to enter the property market.

    Renting in Beveridge is also reasonably priced, with houses averaging $480 per week and units at $470 per week. These figures suggest that housing costs, whether buying or renting, are manageable for many. The average wage in Victoria is approximately $85,000 per year, and the median weekly household income in Beveridge is $2,266, translating to an annual household income of about $118,000. This indicates that the income levels in Beveridge are well-aligned with the cost of living, making it a financially viable option for many.

    Overall, Beveridge offers a more affordable living option compared to many other suburbs in Victoria, without compromising on the quality of life. If you're considering living in Beveridge, you'll find it provides a good balance of cost and lifestyle, making it an appealing choice for families and individuals alike.

    Disclaimer: To assess whether a suburb is considered expensive, we’ve looked at mortgage and rental costs as a proportion of the average local salary. That said, everyone’s financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
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  • Is Beveridge a good place to invest?

    Beveridge is showing promising signs as a potential investment suburb, particularly for those interested in rental properties. Over the past year, house values have seen a modest increase of 2.8%, while unit values have remained stable. This stability in property values can be appealing for investors looking for a less volatile market. However, the real standout is the rental market, with house rents increasing by 6.7% and unit rents surging by 11.9%. This indicates a strong demand for rental properties, which could translate into reliable rental income for investors.

    While Beveridge may not be experiencing rapid capital growth, its rental market dynamics suggest a solid opportunity for those seeking steady returns. The suburb's appeal to renters could be driven by factors such as affordability and lifestyle amenities, making it an attractive option for young families and professionals. As the area continues to develop, with potential infrastructure improvements and community growth, Beveridge could see further demand, particularly in the rental sector. Overall, Beveridge offers a balanced investment opportunity with a focus on rental yield, making it a worthwhile consideration for property investors.

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Choose the right real estate agents in Beveridge

Choosing the right real estate agent in Beveridge can have a big impact on your sale. While there are 145 real estate agents working in the suburb, but just 5 of them were responsible for 28.6% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 1.54% to 2.94%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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