Murrumbeena VIC 3163: Property Market Report & Real Estate Insights

Part of Glen Eira, VIC

Murrumbeena Real Estate Market Outlook

Thinking about buying in Murrumbeena? Now could not be a better time, with 5820 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,411,000 with prices in this suburb ranging from $267,000 to $7,369,000. Murrumbeena is located fairly close to the coast at just 6Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Living in Murrumbeena

Consistent high demand relative to supply is a key feature in Murrumbeena driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Murrumbeena ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. A mix of professions and above average income earners in Murrumbeena provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Medium density in Murrumbeena necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.

Instant Property Valuation

Murrumbeena, a charming suburb in the Glen Eira municipality of Victoria, is experiencing a dynamic phase in its housing market. Known for its blend of period homes and modern apartments, the area appeals to a diverse range of buyers, from young professionals seeking convenient commutes to Melbourne’s central business district, to families longing for a community-oriented environment. The suburb’s housing market reflects a microcosm of broader trends seen across Melbourne, with rising property values fueled by sustained demand, limited housing stock, and appealing local amenities. As of the latest data, the median house prices in Murrumbeena have seen consistent growth, underscoring its popularity among home buyers and investors alike. The real estate landscape offers a variety of options, from charming Edwardian and Art Deco houses to contemporary developments, providing a unique blend of architectural history and modernity.

Living in Murrumbeena offers a high quality of life characterized by its leafy streets, vibrant community spirit, and convenient amenities. The suburb is well-serviced by public transport, with the Murrumbeena railway station providing easy access to the heart of Melbourne. Green spaces, such as Boyd Park and Murrumbeena Park, offer ample recreational opportunities for families and individuals alike. The suburb has a reputable selection of schools, making it an attractive option for those with children. Murrumbeena’s village-like atmosphere is complemented by a variety of cafes, shops, and local markets, helping to foster a tight-knit community. Residents enjoy the blend of a suburban lifestyle with the vibrancy of a bustling city, creating a harmonious environment that appeals to a wide range of demographics.

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