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Surrey Hills is a delightful suburb that offers a serene and family-friendly environment, making it a wonderful place to live. Known for its picturesque tree-lined streets and charming period homes, it provides a peaceful residential atmosphere that is perfect for families seeking a nurturing community. The suburb's strong sense of community is evident in its welcoming vibe, attracting a mix of families, professionals, and retirees who appreciate its tranquil environment and proximity to Melbourne's CBD.

Residents of Surrey Hills enjoy the convenience of excellent public transport options, including train and tram services, which make commuting to the city and surrounding areas a breeze. The suburb is well-equipped with a variety of local amenities, such as boutique shops, cafes, and parks, offering plenty of opportunities for leisure and relaxation. Families will find the local schools highly reputable, contributing to the suburb's appeal as a supportive environment for raising children.

While Surrey Hills offers a charming and peaceful lifestyle, it does come with a few trade-offs. The area is known for its affluence, which can be reflected in property prices, making it a more expensive option compared to some other suburbs. However, the investment is often seen as worthwhile due to the quality of life and stability it offers. Safety is generally not a concern, and the recent transport upgrades have further enhanced the suburb's accessibility and appeal.

Overall, Surrey Hills is a fantastic choice for those looking for a harmonious balance of suburban charm and urban convenience. Its blend of heritage architecture, modern amenities, and green spaces, along with its strong community feel, make it a desirable place to call home. Whether you're a family, a professional, or a retiree, Surrey Hills provides a peaceful retreat from the hustle and bustle of city life while still offering easy access to all the amenities you need.

Living in Surrey Hills can be quite expensive, especially when you consider the current property market. The median house price here is a hefty $1,964,000, which is significantly higher than many other suburbs in Melbourne. If you're looking to rent, the average weekly rent for a house is around $860, while units, although less common, average about $580 per week.

When you compare these figures to the average wage in Surrey Hills, which is approximately $72,000 per year, it becomes clear that a substantial portion of income would need to be dedicated to housing. This is particularly true when you consider that the median total household income weekly is $2,503. This means that while the suburb offers a charming and desirable lifestyle, the cost of living, particularly in terms of housing, is quite high.

Surrey Hills is known for its leafy streets and family-friendly atmosphere, but if you're thinking of living here, it's important to carefully consider your financial situation. The high property prices and rents mean that living in this suburb might be challenging for those on an average income. It's a beautiful place to live, but you'll need to ensure your budget can accommodate the costs associated with this premium location.

Surrey Hills presents a promising investment opportunity, especially for those looking for stable rental income. Over the past 12 months, the suburb has seen a modest increase in median house and unit values, with a 1.0% rise for houses and a 0.6% rise for units. While these figures indicate steady growth rather than rapid appreciation, the real standout is the rental market. Rental prices for houses have surged by 6.2%, and units have seen a 5.5% increase, suggesting strong demand from tenants.

The suburb's appeal lies in its charming, leafy streets and family-friendly atmosphere, which continue to attract long-term renters. This demand is likely to keep rental yields attractive for investors. Additionally, Surrey Hills' proximity to quality schools, parks, and public transport options enhances its desirability, making it a sought-after location for families and professionals alike. While capital growth may be moderate, the consistent rental demand and community appeal make Surrey Hills a solid choice for investors seeking reliable returns.