Thinking about buying in Somerville? Now could not be a better time, with 1955 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $569,000 with prices in this suburb ranging from $145,000 to $6,502,000. The aproximate distance to the coast is 335 Km.

Somerville Real Estate Market Outlook

Consistent high demand relative to supply is a key feature in Somerville driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. Incomes in Somerville are above average indicating a preference for good quality housing and lifestyle. That ensures consistent price growth. The high percentage of professional people in Somerville 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. High density population in Somerville requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. Lower than average industry presence in Somerville we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Somerville a better buying opportunity than it may have been in the past.

Houses for sale Somerville

	111 grant rd, somerville, vic, 3912	5	3	6	$1,675,000 - $1,775,000
	53a pembroke dr, somerville, vic, 3912	0	0	0	$286,000 - $313,500
	9 the knoll, somerville, vic, 3912	5	3	6	1700000
	39 robert st, somerville, vic, 3912	4	2	2	900002
	unit 3, 27 eramosa rd east, somerville, vic, 3912	3	1	2	600000
	unit 5, 27 ruby joy dr, somerville, vic, 3912	6	2	2	$1,400,000 - $1,500,000

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General Points of Interest

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