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Ferntree Gully 3156: Affordable living in a family friendly outer-east location

Suburb Profiles
02 February 2023
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Younger residential estates and pockets of modern townhouses have brought new life to this established outer-east suburb.

Set in the foothills of the Dandenong Ranges, Ferntree Gully borders several suburbs in the City of Knox, including Scoresby, Knoxfield, Upper Ferntree Gully, Boronia and Lysterfield.

Covering an area of about 16sq km, it is picturesque with many green spaces, parklands and reserves, and has a growing population, with 27,398 residents recorded in the 2021 census.

“The area is a major drawcard for homebuyers because it is well regarded, established and served by good transport links, including its own train station,” Barry Plant Rowville managing director Brenton Wilson said.

“It has quality schools and affordable homes, and new properties are being built in the suburb.”

A haven for first-home buyers, downsizers and investors, the area has also been popular with buyers wanting a lifestyle change or those able to work from home, Mr Wilson noted.

“More people are moving further out and here they can have an office or study, a large backyard for the kids and dog, and each child can have their own bedroom,” he added.

“A family could sell up in Box Hill for upwards of $1.5 million, relocate here for much less and get a bigger home.”

A large house on about 1000sq m could be snapped up at a competitive price, and residents will have easy access to the city via the train or freeways and also numerous schools, childcare centres and kindergartens.

“You can have a lifestyle change without having to increase the mortgage and enjoy the village shops, compared to living in a heavily built-up area closer to the city,” Mr Wilson said.

Based on 249 property sales, the median house price rose 0.8 per cent to $873,000 in the 12 months to December 2022, according to data.

The supply of homes tightened, with only 59 houses for sale in December 2022. Houses had a median 30 days time on market and buyer demand was deemed high with interest from 3825 buyers.

For units, the median price was $660,000 and 131 units were sold in 12 months, with only 28 available for sale in December 2022. Demand for units was also strong, with 1284 buyers interested.

Houses can fetch an average rental of $460 per week, with a yield of 2.9 per cent, while units can generate $425 per week with a yield of 3.4 per cent.

Ferntree Gully homes are generally more affordable than nearby suburbs such as Wantirna South and Lysterfield, where median house prices are much higher at seven-figure levels.

Strong demand has seen more auctions being held in the suburb, with Ferntree Gully clearance rates among the highest in Melbourne in recent years.

In the quarter to August 2022, the suburb recorded a clearance rate of more than 81 per cent from 42 auctions, sales data showed.

In May 2022, a dream home auction raised the Ferntree Gully price record by $165,000 when a Footscray buyer snapped up 22 George Street for $1.867 million.

The deluxe six-bedroom house attracted five bidders and the result was $287,000 above the seller’s reserve of $1.58 million, according to Barry Plant Boronia agent Mark Hughes. The previous suburb record was $1.702 million for 5 Beech Close.

For those seeking a more active lifestyle, the suburb has ample wide open spaces, bike and walking trails, and access to golf courses and facilities for basketball and netball.

A short drive away is the popular 1000 Steps and Kokoda Trail Memorial Walk in the Dandenong Ranges foothills.

The suburb has a thriving village shopping area, with new cafes and restaurants complemented by several supermarkets. There is easy access to major shopping centres such as Knox City and The Glen.

There is no shortage of schools for families with seven public schools in the suburb, including Ferntree Gully North, Mountain Gate, Fairhills, Wattle View, Kent Park and St John the Baptist primary schools.

The Eastern Ranges School is a specialist school catering for students on the autism spectrum. The independent Christian school, Heritage College, along Burwood Highway caters for students from prep to secondary.

Home to the Wurundjeri people prior to European settlement, the development of the township began from the 1880s.

Once named Fern Tree Gully because it was an attractive gully with plenty of ferns, the suburb enjoys high rainfall and has rich volcanic soils.

It is well known for its walking and cycling trails, elevated views, abundant greenery, plus native wildlife and orchids.

Suburb Profiles
02 February 2023
Save Article

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