Gisborne suburb profile
Gisborne is a picturesque town located in the Macedon Ranges of Victoria, approximately 54km northwest of Melbourne. Known for its charming rural atmosphere, Gisborne offers a blend of country living with modern conveniences. The town is surrounded by scenic landscapes, including rolling hills and lush greenery, making it a popular destination for nature lovers and those seeking a peaceful lifestyle. Gisborne boasts a vibrant community with a range of amenities, including schools, shops, and recreational facilities. Its proximity to Melbourne and excellent transport links make it an attractive option for commuters and families alike.
Gisborne property market performance
Gisborne's property market has shown stability and growth over the past 12 months. The median house price has remained steady at $866,000, while unit values have increased by 7.3%, bringing the median unit price to $565,000. This indicates a growing interest in units within the suburb.
Sales activity has been moderate, with 34 houses and only 2 units sold in the past 12 months. Houses are taking slightly longer to sell, with a median of 69 days on the market, compared to 64 days for units, suggesting a balanced demand across property types.
The rental market in Gisborne has experienced notable growth, with house rents increasing by 7.7% and unit rents rising by 12.4% over the last 12 months. This reflects a strong demand for rental properties in the area.
Median price - houses$866KPast 3 months
Median price - units$565KPast 3 months
Change in value - houses-9.0%12 months
Change in value - units7.3%12 months
Houses sold34Past 3 months
Units sold2Past 3 months
Median DOM - houses69Past 12 months
Median DOM - units64Past 12 months
Average rent - houses$630Past 12 months
Average rent - units$500Past 12 months
Change in rent - houses7.7%Past 12 months
Change in rent - units12.4%Past 12 months
Gisborne demographics
Gisborne, located in the Macedon Ranges of Victoria, offers a charming blend of rural tranquility and modern convenience. With a population of 10,142, this suburb is known for its family-friendly atmosphere and picturesque landscapes. The median age of 39 suggests a mature community, with many residents enjoying the balance of a peaceful lifestyle and proximity to Melbourne, which is just a short drive away.
The suburb is predominantly composed of family households, with 52.1% being couple families with children, highlighting its appeal to those seeking a nurturing environment for raising a family. Additionally, 35.6% of households are couple families without children, indicating a significant number of residents who appreciate the serene surroundings and community feel. The median total household income of $2,294 per week reflects a relatively affluent community, likely benefiting from the area's desirable living conditions and employment opportunities.
Property ownership in Gisborne is strong, with 35.2% of homes owned outright and 48.7% owned with a mortgage. This high level of ownership underscores the suburb's stability and attractiveness to long-term residents. Only 16.2% of properties are rented, suggesting a community that values homeownership and the associated sense of permanence. Gisborne's combination of natural beauty, family-oriented amenities, and accessibility to urban centers makes it a sought-after location for those looking to enjoy a balanced and fulfilling lifestyle.
Gisborne infrastructure, key developments and investment opportunities
Gisborne is experiencing significant developments that are likely to impact its property market. The town center is undergoing revitalization with the construction of new retail spaces and mixed-use developments, enhancing local amenities and potentially boosting property values. The expansion of Gisborne Secondary College, set to accommodate growing student numbers, reflects the area's increasing popularity among families.
Infrastructure improvements include upgrades to the Calder Freeway, enhancing connectivity to Melbourne, and the development of new walking and cycling trails, improving local livability. The Macedon Ranges Shire Council's commitment to preserving the area's natural beauty while allowing controlled growth is likely to maintain Gisborne's appeal as a tree-change destination. These factors, combined with Gisborne's proximity to Melbourne and its country town charm, are expected to sustain strong demand for properties in the area.
Gisborne rental market trends
The rental market in Gisborne has experienced notable growth, with house rents increasing by 7.7% over the past year to $630 per week, while unit rents have surged 12.4% to $500 per week. This upward trend reflects strong demand and the suburb's appeal as a desirable location for both renters and investors seeking a balance of lifestyle and investment potential.
Suburbs near Gisborne
Some popular suburbs near Gisborne include: