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Upwey suburb profile

Upwey is a picturesque suburb nestled in the foothills of the Dandenong Ranges, approximately 32km east of Melbourne's CBD. Known for its lush greenery and tranquil atmosphere, Upwey offers a peaceful retreat from the hustle and bustle of city life. The suburb is popular among nature lovers and families, with its proximity to national parks, walking trails, and scenic lookouts. Upwey boasts a strong community spirit, with local events and markets fostering a friendly and welcoming environment. Its charming village feel, combined with convenient access to public transport, makes Upwey a desirable location for those seeking a harmonious blend of nature and suburban living.

Upwey property market performance

Upwey’s property market has remained stable over the past 12 months, with no change in the median house value, which stands at $825,000. The suburb has not seen any unit sales or changes in unit values, indicating a focus on the housing market. Over the last three months, 14 houses were sold, with properties spending a median of 42 days on the market, reflecting a steady demand.

The rental market for houses in Upwey has experienced a notable increase, with average rent rising by 11.6% over the past year to $645. This suggests a growing demand for rental properties in the area, despite the absence of unit rentals.

HousesUnits
Median price
Past 3 months
N/AN/A
Change in value
Past 12 months
-2.8%N/A
Sold
Past 3 months
5N/A
Median days on market
Past 12 months
42N/A
Average rent
Past 12 months
$650N/A
Change in rent
Past 12 months
12.1%N/A

5 year median price trend for houses and units

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Upwey demographics

Upwey, nestled in the picturesque Dandenong Ranges of Victoria, offers a serene lifestyle with a strong sense of community. Known for its lush greenery and tranquil environment, Upwey is an ideal suburb for families and those seeking a peaceful retreat from the hustle and bustle of city life. The median age of 41 reflects a mature community, with many residents enjoying the balance of natural beauty and suburban convenience.

The suburb's housing landscape is predominantly owner-occupied, with 35.8% of properties owned outright and 54.5% owned with a mortgage. This high rate of home ownership underscores the stability and long-term commitment of its residents. Rental properties are less common, comprising only 9.8% of the housing market, which may appeal to those looking for a more settled community environment.

Family life is a cornerstone of Upwey, with nearly half of the families being couples with children (49.7%), and a significant portion being couples without children (34.5%). The presence of one-parent families (15%) adds to the suburb's diverse family dynamics. With a median total household income of $2171 per week, Upwey offers a comfortable living standard, supported by its proximity to local amenities, schools, and the natural attractions of the Dandenong Ranges. This combination of factors makes Upwey a desirable location for those seeking a harmonious blend of nature and community.

Upwey infrastructure, key developments and investment opportunities

There are currently no major infrastructure projects, new school developments, or large-scale commercial redevelopments reported in Upwey that are likely to significantly impact the property market at this time. The suburb continues to benefit from established facilities, access to national parks, and solid public transport connectivity via the Belgrave train line, supporting its desirability among buyers seeking a semi-rural lifestyle with city access.

Local amenities such as reputable primary schools, proximity to Angliss Hospital, and a variety of cafes and community events enhance livability and family appeal. Upwey remains attractive for home buyers valuing large land parcels, scenic surrounds, and a strong sense of community without the influence of disruptive construction or significant zoning changes.

Upwey rental market trends

The rental market in Upwey has experienced growth, with house rents increasing by 11.6% over the past year to $645 per week. However, there has been no change in unit rents, which remain at $0, indicating a potential lack of available units. Upwey continues to attract interest due to its serene environment and proximity to natural attractions, making it appealing for families and investors seeking a peaceful lifestyle.

Suburbs near Upwey

Some popular suburbs near Upwey include:

How does Upwey compare to nearby suburbs?

  • Median house prices: Upwey’s median house price is 8.2% lower than Ferntree Gully’s.
  • House price growth: Property prices in nearby Ferntree Gully have risen 0.9% more than in Upwey over the past year.
  • Selling speed for houses: Properties in nearby Ferntree Gully are selling 9.5% faster than in Upwey.
  • House price growth: Over the past 12 months, house prices in Upwey have grown 12.7% lower than the average rate of growth across Melbourne.

Common questions about Upwey

  • Is Upwey a nice place to live?

    Upwey is a delightful suburb that offers a serene and family-friendly lifestyle, making it a wonderful place to call home. Nestled in the lush Dandenong Ranges, Upwey is renowned for its tranquil environment and picturesque surroundings, providing a peaceful retreat from the hustle and bustle of city life. The suburb exudes a charming village feel, with a strong community spirit that is evident in the local events and markets that bring residents together. Families are particularly drawn to Upwey for its safe and welcoming atmosphere, as well as its proximity to reputable schools and essential amenities.

    Living in Upwey means enjoying a harmonious blend of nature and suburban convenience. The suburb is well-connected to Melbourne's CBD via the Belgrave train line, making it an ideal choice for those who appreciate a semi-rural lifestyle with easy city access. While Upwey may not offer the nightlife and entertainment options of inner-city suburbs, it compensates with its abundance of natural attractions, including national parks, walking trails, and scenic lookouts. This makes it a haven for nature lovers and those who enjoy outdoor activities.

    One of the trade-offs of living in Upwey is the limited availability of rental properties, which may pose a challenge for those not looking to buy. However, this contributes to the suburb's stable and settled community, where many residents are long-term homeowners. While there are no major infrastructure projects or commercial developments on the horizon, the existing facilities and strong public transport connectivity continue to support Upwey's desirability. Overall, Upwey is a charming and peaceful suburb that offers a high quality of life for families and individuals seeking a close-knit community surrounded by natural beauty.

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  • Is it expensive to live in Upwey?

    Living in Upwey can be considered moderately expensive, especially when you compare it to the average wage in Victoria. The median house price in Upwey is currently $825,000, which is relatively accessible compared to some of the more central suburbs of Melbourne. However, with the average annual wage in Victoria being around $65,000, purchasing a home in Upwey would still require a significant financial commitment.

    If you're thinking of renting in Upwey, the average rent for houses is approximately $645 per week. This rental price is on the higher side, especially when you consider the average weekly household income in Upwey is $2,171. While this income might seem sufficient, a large portion would still go towards housing costs, making it a critical factor to consider for those planning to move here.

    Overall, while Upwey offers a more suburban lifestyle away from the hustle and bustle of Melbourne's CBD, the cost of living, particularly in terms of housing, is something to carefully evaluate. Balancing the charm of Upwey's environment with financial considerations is essential for anyone contemplating a move to this area.

    Disclaimer: To assess whether a suburb is considered expensive, we’ve looked at mortgage and rental costs as a proportion of the average local salary. That said, everyone’s financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
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  • Is Upwey a good place to invest?

    Upwey presents a unique investment opportunity, especially for those interested in rental income. While the median house and unit values have remained stable over the past year, the suburb has experienced a significant 11.6% increase in house rents. This suggests a strong demand for rental properties, making it an attractive option for investors seeking consistent rental returns.

    The stability in property values indicates that Upwey is a low-risk investment area, which can be appealing for those looking to avoid the volatility seen in other markets. The lack of change in unit rents and values suggests a balanced market, where supply and demand are currently in equilibrium. This can provide peace of mind for investors who prioritize steady returns over rapid capital growth.

    Overall, Upwey offers a compelling case for investment, particularly for those focused on generating rental income. Its stable property values and rising house rents make it a reliable choice for investors seeking a steady and predictable investment environment.

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Choose the right real estate agents in Upwey

In Upwey, 27 agents are actively selling property, but a small number do the heavy lifting. Just 5 agents handled 62.5% of all sales in the past year, giving them a strong presence and deep experience in the local market.

Commission rates usually sit between 2.16% and 2.63%. 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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