Eastwood

Eastwood, VIC 3875 is a growing suburb with a total population of 2855, experiencing steady population growth over the years. The suburb has a diverse age demographic, with a considerable percentage of residents aged 45 to 64 and 65 or over. The median household income is above average, and there are various occupation types present, with managers, professionals, and technicians being the top three occupations. Commuting patterns show a preference for motor vehicles, with a notable portion of residents working from home. For house buyers and property developers, Eastwood presents opportunities for growth and renovation with a sizeable number of properties available. The suburb has shown consistent median growth rates over 1, 3, 5, and 10 years, indicating a stable market. With a high room demand-supply ratio, there is potential for rental income. The market absorption rate suggests a balanced market, but the vacancy rate and social housing ratio are low, indicating a competitive housing market. Eastwood, VIC 3875 is an attractive suburb for home buyers interested in a well-established area with good growth potential. For property investors, the suburb offers opportunities for renovation and rental income, with a stable market backed by steady growth rates. The demographics reflect a diverse community with a mix of occupations and a preference for motor vehicle commutes, along with a growing trend of working from home. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022