If you are energetic and upbeat, then buying real estate in Hawthorn is for you. Just 6 kilometers east of Melbourne’s central business district lies the historic inner suburb of Hawthorn, an area that is packed with youthful atmosphere in the backdrop of its rich history evident on the its striking architecture and memorable landmarks.
Combining the innovations of today with the abundance of green, this area is tucked between the busy-bee action in Richmond, and the lush and fresh scenery of Camberwell. It is this very duality that gives Hawthorn character, a place that can keep you entertained by the street, and keep you relaxed by the nature surrounding it.
Hawthorn Real Estate: By the Numbers
A real estate property in Hawthorn has a median house price of $2,099,000, not surprising for a neighborhood in such a handy location. In here, a 3-bedroom home will cost $1,822,500 in average, while a 4-bedroom home can go for at least $3,280,000. The rent in this suburb is also in the average, costing $720 per week. It costs a few dollars more to rent a 3-bedroom unit, while a 4-bedroom space costs $1,100.
Based on recent data collected and 142 house sales for the last 12 months, Hawthorn real estate’s median house price has increased by 57.2%, and that equates to a 9.5% compound annual growth rate. Meanwhile, the rental yield for Hawthorn houses was 1.8%, based on last year’s house sales of 142 sold and 211 in property rentals.
Although fairly small in comparison to other suburbs in the state, the area enjoys an average demand in the real estate property market, having 468 visits per property.
(Data from Realestate.com.au)
Why Choose Hawthorn
Buying a house in Hawthorn means convenience. Its location alone gives it strategic and handy access to different facilities in the neighboring areas, while also boasting amazing facilities on its own. The suburb’s duality gives the area the duality it is known for. In its packed shopping strip contrasting the tree-lined roads that houses Hawthorn’s impressive Victorian terraces, it is evident that such a place where convenient living and the nature’s healthy dose of green can exist beautifully. Multicultural dining experiences and quirky pop-up shops fill Glenfarie Road to keep you entertained, or if you are up for a little jogging and biking the path to Yarra River is always there.
This affluent and influential suburb thrives in its diversity, and the influx of students studying in Swinburne University is partnered by the loyal long-time residents to form a community that is young in energy and an old-timer at heart. Aside from the standard 3-bedroom apartments and the compact Victorian houses, Hawthorn is also home to magnificent large homes, luxurious and newly-built townhouses, and fabulous high-end apartments affording the gorgeous views of the suburb. Aside from the comfy homes, the suburb also has numerous notable schools, both public and state-run. Although most residents here drive, the area is serviced by several train stations, as well as the trams.
Hawthorn is a well-located, well-connected suburb that is known for its long range of residential options. Its historic identity partnered with its youthful exuberance makes it one of the best locations in the country.
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Other locations in Australia are equally as desirable as Victoria. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
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