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Eastwood suburb profile

Eastwood is a picturesque suburb located in the East Gippsland region of Victoria, offering a serene lifestyle amidst natural beauty. Known for its close proximity to Bairnsdale, Eastwood provides residents with a peaceful environment while still being conveniently near urban amenities. The suburb is characterized by its lush landscapes, walking trails, and a strong sense of community, making it an ideal location for families and retirees. Eastwood's blend of modern housing developments and access to recreational facilities, such as parks and sports grounds, enhances its appeal as a desirable place to live in the region.

Eastwood property market performance

Eastwood’s property market has shown stability over the past 12 months, with house values experiencing a modest increase of 0.8%. The current median house price stands at $604,000. Notably, there has been no activity in the unit market, with no units sold or changes in unit values.

In terms of sales activity, 14 houses were sold over the last 12 months, with properties spending a median of 64 days on the market, indicating a steady pace of sales. The absence of unit sales suggests a lack of demand or availability in this segment.

The rental market for houses in Eastwood has seen a significant increase, with average rents rising by 10% over the past year to $550. This suggests a strong demand for rental houses, contrasting with the stagnant unit rental market.

HousesUnits
Median price
Past 3 months
$600KN/A
Change in value
Past 12 months
0.8%N/A
Sold
Past 3 months
11N/A
Median days on market
Past 12 months
91N/A
Average rent
Past 12 months
$550N/A
Change in rent
Past 12 months
3.8%N/A

5 year median price trend for houses and units

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Eastwood demographics

Eastwood, located in the picturesque region of Victoria, offers a serene lifestyle with a strong sense of community. With a population of 2,855, this suburb is characterized by its mature demographic, as reflected in the median age of 50. This suggests a community that is likely composed of long-term residents and retirees who appreciate the tranquility and slower pace of life that Eastwood provides.

The suburb's housing landscape is predominantly owner-occupied, with over half of the properties owned outright (51.9%) and a further 31% owned with a mortgage. This high level of home ownership indicates a stable and established community, where residents have invested in their homes and are likely to remain for the long term. The rental market is relatively small, with only 17.1% of properties being rented, which may appeal to those seeking a more permanent and settled living environment.

Family structures in Eastwood are diverse, with couple families without children making up the majority at 52.2%, followed by couple families with children at 35%. The presence of one-parent families, accounting for 12.4%, adds to the suburb's family-friendly appeal. The median total household income of $1,304 per week reflects a modest yet comfortable living standard, suitable for those who value community and a peaceful lifestyle over the hustle and bustle of city living.

Suburbs near Eastwood

Some popular suburbs near Eastwood include:

How does Eastwood compare to nearby suburbs?

  • Median house prices: Eastwood’s median house price is 9.1% higher than Bairnsdale’s.
  • House price growth: Over the past 12 months, house prices in Eastwood have grown 9.4% higher than in Wy Yung.
  • Selling speed for houses: Properties in Eastwood are selling 26.0% faster than in Wy Yung.

Choose the right real estate agents in Eastwood

In Eastwood ,20 agents are actively selling property, but a small number do the heavy lifting. Just 5 agents handled 47.1% of all sales in the past year, giving them a strong presence and deep experience in the local market.

Commission rates usually sit between 2.75% and 3.13%. Comparing agents and understanding what’s included in their fee structure can help you find the right mix of service, value, and motivation—without compromising on outcomes.

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