Get a property report and suburb profile for any property in Templestowe Lower

Templestowe Lower is a delightful suburb that offers a charming blend of suburban tranquility and urban convenience, making it a fantastic place to live. Known for its leafy streets and community-oriented vibe, this suburb is particularly appealing to families and professionals who appreciate a peaceful environment with easy access to amenities. The suburb boasts a variety of spacious homes and modern developments, providing ample options for those looking to settle down in a serene setting. The abundance of green spaces, including the nearby Yarra River parklands, offers residents plenty of opportunities for outdoor activities and relaxation.

Families will find Templestowe Lower especially inviting, thanks to its strong sense of community and excellent local amenities. The suburb is well-served by shopping centres, schools, and recreational facilities, ensuring that all family needs are met. While the area lacks direct train access, frequent express bus connections to the city and nearby stations make commuting manageable for those working in Melbourne's CBD. The recent upgrades at Macedon Square Shopping Centre further enhance the local retail experience, adding to the suburb's vibrancy.

However, living in Templestowe Lower does come with some trade-offs. The absence of a direct train line may be a consideration for those who prioritize quick access to public transport. Despite this, the suburb's peaceful ambiance, coupled with its proximity to beautiful parklands, makes it a sought-after destination for those seeking a balanced lifestyle. Safety is generally not a concern, and the suburb's mature community adds to its appeal. Overall, Templestowe Lower offers a comfortable and family-friendly lifestyle, making it a lovely place to call home.

Living in Templestowe Lower can be quite costly, especially if you're planning to purchase a property. The current median house price is around $1,303,000, which is on the higher side compared to many other Melbourne suburbs. If you're looking to rent, houses average about $720 per week, while units, although not currently available for sale, have an average rent of $615 per week. These figures suggest that housing in Templestowe Lower requires a significant financial commitment.

When we compare this with the average wage in Templestowe Lower, which stands at $80,000 per year, it's evident that a large portion of one's income would go towards housing costs. This is slightly above the average income for Melbourne, but the high property prices and rent mean that living here could still be a stretch for many. The median total household income weekly is $1,920, which also indicates that dual-income households might manage better, but single-income earners could find it challenging.

Overall, Templestowe Lower offers a desirable lifestyle with its suburban charm and proximity to Melbourne's amenities, but the cost of living, particularly in terms of housing, is relatively high. If you're thinking of living in Templestowe Lower, it's important to carefully evaluate your financial situation to ensure it aligns with the expenses associated with residing in this appealing suburb.

Templestowe Lower presents a stable investment opportunity, particularly for those interested in rental properties. While the median house and unit values have remained unchanged over the past year, the suburb's rental market shows promise, especially for units, which have seen a 4.6% increase in rent. This suggests a growing demand for rental units, making them an attractive option for investors seeking steady rental income.

The suburb's appeal lies in its family-friendly environment, with plenty of parks, schools, and amenities that cater to a comfortable lifestyle. This makes it a desirable location for long-term renters, ensuring a consistent demand for rental properties. While capital growth has been stagnant recently, the steady rental market provides a reliable income stream, which can be appealing for investors looking for stability rather than rapid gains.

Overall, Templestowe Lower offers a balanced investment landscape. It may not be the hotspot for quick capital appreciation, but its strong rental demand, particularly for units, makes it a solid choice for those seeking a dependable investment with potential for gradual growth. As the suburb continues to develop and attract families and professionals, the long-term prospects for property investors remain positive.