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Nunawading suburb profile

Nunawading is a well-established suburb located approximately 18km east of Melbourne's CBD, known for its family-friendly atmosphere and convenient amenities. It offers a mix of residential, commercial, and industrial areas, with a variety of housing options ranging from classic homes to modern townhouses. Nunawading is home to the popular "Golden Mile" shopping precinct, featuring a range of retail outlets and services. The suburb is well-served by public transport, including a train station on the Lilydale and Belgrave lines, making it an accessible location for commuters. Its blend of suburban comfort and urban convenience makes Nunawading a desirable place for families and professionals alike.

Nunawading property market performance

Nunawading's property market has shown stability over the past 12 months, with house values experiencing a modest increase of 1.0% and unit values remaining unchanged. The median house price over the past three months has averaged $1.12 million, while units have averaged $807,500, indicating steady demand in the area.

Sales activity has been consistent, with 33 houses and 12 units sold in the past three months. Both houses and units are selling relatively quickly, with median days on market at 34 and 33 days, respectively, suggesting a balanced market.

The rental market in Nunawading has seen notable growth over the last 12 months, with average rent for houses increasing by 8.9% and units by 8.0%, reflecting strong demand for rental properties in the suburb.

Median price - houses$1.04MPast 3 months

Median price - units$808KPast 3 months

Change in value - houses-2.9%12 months

Change in value - units6.4%12 months

Houses sold34Past 3 months

Units sold9Past 3 months

Median DOM - houses37Past 12 months

Median DOM - units31Past 12 months

Average rent - houses$610Past 12 months

Average rent - units$520Past 12 months

Change in rent - houses5.2%Past 12 months

Change in rent - units8.3%Past 12 months

Nunawading demographics

Nunawading, located in Melbourne's eastern suburbs, is a family-friendly area known for its leafy streets and convenient access to amenities. With a population of 12,413 and a median age of 39, it attracts a mix of families, professionals, and retirees who appreciate its suburban charm and proximity to the city. The suburb's median household income of $1,938 per week reflects a comfortable standard of living, appealing to those seeking a balanced lifestyle.

Housing in Nunawading is characterized by a strong sense of ownership, with 33.5% of properties owned outright and 36.4% owned with a mortgage. This stability is complemented by a rental market that accounts for 30.1% of properties, providing options for those seeking flexibility. The suburb's family-oriented nature is evident, with 49.1% of households being couple families with children, while 35.7% are couple families without children, and 13.2% are one-parent families.

Nunawading's appeal lies in its blend of suburban tranquility and urban convenience. It offers residents access to quality schools, parks, and shopping centers, making it an ideal location for families and individuals seeking a peaceful yet connected lifestyle. The suburb's community spirit and well-maintained infrastructure contribute to its reputation as a desirable place to live within Melbourne's vibrant landscape.

Nunawading infrastructure, key developments and investment opportunities

Nunawading is experiencing several developments that could impact its property market. The recent completion of the Nunawading Community Hub in 2020 has provided a new focal point for community activities and services. This repurposed heritage school building offers opportunities for socializing, learning, and recreation, potentially increasing the area's appeal to families and community-minded residents.

The suburb benefits from ongoing improvements to public transport infrastructure, including the upgraded Nunawading railway station, one of the larger metropolitan stations in Melbourne's eastern suburbs. This, combined with easy access to the Eastern Freeway, enhances Nunawading's connectivity and could positively influence property values. Additionally, the continued development of the 'Mega Mile' retail strip along Whitehorse Road, featuring major retailers and businesses, reinforces Nunawading's position as a significant commercial hub in Melbourne's east.

Nunawading rental market trends

The rental market in Nunawading has experienced steady growth, with house rents increasing by 8.9% over the past year to $610 per week, while unit rents have risen 8.0% to $508 per week. This suburb continues to attract interest due to its strategic location and strong rental demand, making it a promising area for both investors and tenants.