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Hawthorn is a delightful suburb that offers a harmonious blend of historic elegance and modern living, making it a wonderful place to call home. Its tree-lined streets and charming Victorian architecture create a picturesque setting that is both inviting and sophisticated. The suburb is known for its vibrant community atmosphere, attracting families, professionals, and students who appreciate its lively yet refined vibe. With a variety of cafes, boutiques, and eateries along Glenferrie Road, residents have plenty of options for dining and shopping, while the nearby Yarra River and parks provide beautiful spaces for outdoor activities and relaxation.

Families will find Hawthorn particularly appealing due to its excellent schools and safe environment. The suburb's strong sense of community and family-friendly amenities make it an ideal place for raising children. Additionally, the presence of Swinburne University injects a youthful energy into the area, fostering a dynamic and diverse community. Public transport is a breeze, with multiple train stations and tram lines offering convenient access to Melbourne's CBD and beyond, enhancing the suburb's livability.

However, living in Hawthorn does come with some trade-offs. The suburb's prestigious status and proximity to the city mean that property prices can be on the higher side, which may be a consideration for those looking to buy. The ongoing developments and infrastructure projects, while promising to enhance the area's appeal, may also lead to temporary disruptions. Despite these factors, Hawthorn remains a highly desirable suburb for those seeking a blend of cultural richness, convenience, and a welcoming community atmosphere.

Living in Hawthorn can be quite expensive, especially when it comes to housing. With a current median house price of $2,596,000, it's clear that buying a home in this suburb requires a significant financial commitment. Even units, which are typically more affordable, have a median price of $626,500. Renting in Hawthorn also leans towards the pricier side, with houses averaging $750 per week and units around $525 per week.

When comparing the average wage in Hawthorn, which is approximately $116,000 per year, to the broader Greater Melbourne area, it's evident that residents here generally earn more. However, this higher income is often necessary to manage the elevated cost of living. The median total household income weekly is $2,145, which supports the higher living expenses but also highlights that a good portion of earnings might go towards housing costs.

Overall, if you're thinking of living in Hawthorn, it's important to consider the financial implications. While the suburb offers a desirable lifestyle with its proximity to the city and a range of amenities, the cost of living, particularly in terms of housing, is on the higher end. It's crucial to ensure your financial situation aligns with these expenses to comfortably enjoy what Hawthorn has to offer.

Hawthorn presents an interesting opportunity for property investors, particularly those focused on rental income. While the median house and unit values have remained stable over the past year, the significant 10.5% increase in rent for units suggests a strong demand for rental properties. This trend indicates that Hawthorn is a desirable location for renters, potentially due to its proximity to educational institutions, public transport, and vibrant local amenities.

The stability in property values, combined with the rising rental yields, makes Hawthorn an attractive option for investors seeking steady rental returns. The suburb's appeal to students and young professionals, thanks to its lively atmosphere and convenient access to the city, ensures a consistent demand for rental units. While capital growth has been flat, the rental market's performance highlights Hawthorn's potential as a reliable investment for those prioritizing rental income over immediate capital gains.