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Burwood suburb profile

Burwood is an established eastern Melbourne suburb anchored by Deakin University's leafy campus and a busy spine along Burwood Highway. Tree-lined streets host a solid stock of postwar brick and weatherboard family homes, with pockets of newer townhouses and low-rise apartments close to the university and shopping strips. The area suits families, students and long-term residents who value quiet residential streets, nearby parks and walking trails. Regular trams and buses along Burwood Highway and good road links make commuting straightforward, while neighbourhood shops, cafes and green space give the suburb a relaxed, everyday suburban character.

Burwood property market performance

Current median dwelling price$946,250Past 3 months

Property growth+2.0%Past 12 months

The median house price is $1,327,500, up a modest 3.1% over the last 12 months. The median unit price is $565,000, up a slight 0.9% over the last 12 months. House values rose faster than unit values.

Over the last 3 months 51 houses and 30 units were sold. Over the last 12 months houses sold in a median of 47 days and units in 48 days, so they sold in a similar time.

In Burwood the rental market shows average house rents of $780 a week, up a modest 4.0% over the last 12 months. Average unit rents were $500 a week, up sharply 16.3% over the last 12 months, so unit rents grew faster.

HousesUnits
Median price
Past 3 months
$1.33M$565K
Change in value
Past 12 months
3.1%0.9%
Sold
Past 3 months
5130
Median days on market
Past 12 months
4748
Average rent
Past 12 months
$780$500
Change in rent
Past 12 months
4.0%16.3%

5 year median price trend for houses and units

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Burwood demographics

Burwood is home to 15,147 people with a median age of 34. The typical household earns $1,684 a week, roughly $87,600 a year.

Families dominate the local profile: couple families with children are the largest single group at 43.5%, and together with couple families without children (37.2%) they make up just over eight in ten families (80.7%). One-parent families account for 16.2% and other families 3.1%.

Homes in Burwood are mostly owner-occupied, with 32.0% owned outright and 28.6% owned with a mortgage, a combined owner-occupied share of 60.6%. Renters make up 39.4% of dwellings.

Suburbs near Burwood

Some popular suburbs near Burwood include:

  • Box Hill South: Established suburb with generous parkland and a calm residential atmosphere.
  • Ashwood: Quiet, tree-lined streets and family-oriented housing in Melbourne's east.
  • Burwood East: Large suburb with a mix of housing styles and open reserves.
  • Mount Waverley: Popular neighbourhood of comfortable homes and well-kept public parks.
  • Surrey Hills: Historic garden suburb noted for ornate period homes and mature tree cover.

How does Burwood compare to nearby suburbs?

  • Median house prices: Burwood’s median house price is 4.5% higher than Box Hill South’s.
  • Median unit prices: Burwood’s median unit price is 14.1% lower than Burwood East’s.
  • House price growth: Over the past 12 months, house prices in Burwood have grown 6.1% higher than in Box Hill South.
  • Unit price growth: Over the past 12 months, unit prices in Burwood have grown 3.3% higher than in Mount Waverley.
  • Selling speed for houses: Properties in Burwood are selling 6.0% faster than in Box Hill South.
  • Selling speed for units: Properties in Burwood are selling 5.9% faster than in Box Hill South.
  • Investment considerations: In Burwood, the rental yield for house is 23.0% higher than the Melbourne average, while the rental yield for units is 15.3% lower.
  • House price growth: Over the past 12 months, house prices in Burwood have grown 32.8% higher than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Burwood have grown 6.6% lower than the average rate of growth for units across Melbourne.

Choose the right real estate agents in Burwood

Choosing the right real estate agent in Burwood can have a big impact on your sale. While there are 144 real estate agents working in the suburb, but just 5 of them were responsible for 38.0% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 1.71% to 2.57%, 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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