All About Princes Hill, Yarra, VIC, 3054

Princes Hill, a small and charming suburb in the City of Yarra in Victoria, is renowned for its blend of period homes and leafy streets, creating a pleasant and sought-after environment for residents. The housing market in Princes Hill is characterized by a mix of Victorian and Edwardian homes, many of which have been meticulously renovated to maintain their historical charm while offering modern amenities. The demand for properties in this suburb is consistently high, driven by its close proximity to Melbourne's central business district and the tranquil atmosphere it offers. The real estate market sees a competitive edge due to limited stock, often resulting in robust property values and strong interest from buyers looking for a community-oriented lifestyle coupled with urban convenience.

Living in Princes Hill offers residents a blend of suburban peace and urban access, making it an ideal location for professionals, families, and retirees alike. The suburb boasts excellent transport links, with trams and trains providing quick access to the city center. Princes Hill is also home to esteemed educational institutions, including Princes Hill Primary and Secondary Schools, which are highly regarded in the area. The community is vibrant and diverse, featuring lush parks like Princes Park that offer recreational opportunities and a space for social gatherings. The local cafes and shops contribute to a welcoming neighborhood feel, ensuring that residents enjoy a perfect balance of a lively social scene and the serenity of a suburban lifestyle.

Princes Hill Real Estate Market Outlook

Thinking about buying in Princes Hill? Now could not be a better time, with 1193 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $2,503,000 with prices in this suburb ranging from $455,000 to $13,393,000. Princes Hill is located fairly close to the coast at just 3Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Good balance between supply and demand ensures a range of affordable options within budget limits. Recent increases in listings may provide buying opportunities. High average incomes in Princes Hill 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. The high percentage of professional people in Princes Hill classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. Lower than average population density constrains growth in Princes Hill to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. 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

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Public Transport

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General Points of Interest

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