Suburb Profile – Balwyn
Located 10kms from the city in Melbourne’s east is the charming, family-friendly suburb of Balwyn.
This tree-lined locale is best known for its many period homes, quaint cinema and inviting shopping strip. It is also highly-prized by families and prospective families for its proximity to some of Melbourne’s best schools, both public and private.
Its popularity with families with children, in particular, has seen property values in Balwyn skyrocket, increasing an incredible 195per cent from 2005-2015.
The median sale price for a house in the suburb for the 12 months to October 2016 was $2.1 million, an 8.3% increase on the previous 12 months.
The median sale price for a unit in the suburb for the 12 months to October 2016 was $680,000, with gross rental yields coming in at 3.2 %.
Balwyn is built around four main roads. Burke Road and Belmore Road form the suburb’s eastern and northern boundaries, respectively, while Balwyn Road and Whitehorse road run through the centre of the suburb – the junction of the two forming the Balwyn’s main shopping district.
Whitehorse Road, in particular, is home to a variety of well-loved restaurants and enticing cafés such as Stefan’s Charcoal Grill, Snow Pony and the ever popular Mr. Hendricks. At night especially, this quaint strip comes to life as people enjoy dinner, drinks, or a relaxing cup of coffee before catching a movie at Balwyn Cinema.
With the 109 tram running along it, Whitehorse Road also provides the main public transport route to the city and surrounding suburbs. During the morning and afternoon it is a popular means of transport for school children accessing some of Melbourne’s most prestigious private schools including Genazzano, MLC, Trinity, and Xavier.
The eye-catching and varied types of housing in Balwyn also give the suburb its distinct personality. Nestled amongst its leafy streets are cosy homes built in a variety of architectural styles, including Art Deco, Federation, Old English and the much loved Californian Bungalow.
Balwyn has been one of Melbourne’s standout performers over the last 10 years. For families and those seeking the charm of a traditional Melbourne neighbourhood, Balwyn is now one of the city’s most sought-after suburbs.
– Last updated November 2016.