Melbourne’s outer-east fringes have most potential buyers in the nation
Buyers eye limited listings in semi-rural lifestyle suburbs
Four of Melbourne’s outer-eastern suburbs are among Australia’s most sought-after by highly engaged and motivated buyers.
Kangaroo Ground, Gruyere, Belgrave South and Warrandyte South are on the nation’s list of Top 10 suburbs attracting the highest number of potential buyers per house listing, according to Proptrack data.
Proptrack revealed that Kangaroo Ground, in the Shire of Nillumbik, caught the eye of 484 potential buyers per listing during the period from March 2022 to February 2023. Such buyers typically showed behaviours of motivated purchasers.
Gruyere in the Yarra Valley was listed at Number 4 with 376 potential buyers per listing, followed by the Dandenong Ranges suburb, Belgrave South, with 363 buyers and Warrandyte South with 314.
“Kangaroo Ground is one the most tightly held suburbs in Victoria and has many beautiful and well-built homes,” Barry Plant Manningham prestige and lifestyle specialist Kathy Purcell said.
“It has newer properties that offer a country lifestyle with urban amenities, easy access to train stations and top schools, plus it’s just minutes to Warrandyte.”
She noted there was a mix of buyers in the suburb, including families looking for a good environment to raise children and those seeking off-grid living.
Ms Purcell said many buyers tended to purchase for the long term and this resulted in a tightly held market.
Just three houses have sold in the past 12 months in Kangaroo Ground, according to realestate.com.au, and only three houses are currently listed for sale.
Ms Purcell sold two houses in the suburb in 2022, including one that fetched $4.1 million.
Barry Plant Manningham has listed 80 Bourchiers Road, Kangaroo Ground (pictured above and below), a stunning 20-acre property with a luxurious 50-square house, an outdoor entertainment zone, paddocks, dams and amazing vistas.
The four-bedroom, four-bathroom house with garaging for up to 10 vehicles has been capturing buyers’ attention in recent weeks, Ms Purcell said.
Similar to Kangaroo Ground, Warrandyte South was also very popular with buyers, with just two house listings and seven house sales in the past 12 months.
Another outer-east suburb, Croydon South, made the Top 10 list with the highest number of prospective buyers for units.
Proptrack analysis showed there were many suburbs where buyer-demand was elevated. These areas were affordable, offered a scenic lifestyle or were in convenient locations near amenities.
Its senior economist Anne Flaherty said the current level of buyer activity was still “very healthy” and was well above levels seen before the onset of the Covid-19 pandemic.
The suburb of Upper Sturt, outside Adelaide, headed the list of Australia’s Top 10 suburbs sought-after by highly engaged buyers.