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Casey suburbs primed for growth

Real estate & property news
17 October 2023
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Rising markets tipped in affordable Endeavour Hills and Doveton

The booming City of Casey is one of Australia’s regions tipped for strong price growth.

The municipality in Melbourne’s outer southeast is ranked among the 10 best areas across the nation with notable numbers of growth suburbs, according to Hotspotting’s Spring Price Predictor Index.

Three `rising’ and nine `recovering’ suburbs have been identified in the City of Casey, including Botanic Ridge, with a median house price of $920,000, Endeavour Hills ($800,000) and Doveton ($590,000).

Doveton is a suburb of older-style homes that is slowly gentrifying, according to Barry Plant Noble Park/Keysborough/Dandenong director Tim Stickley.

“It is dominated by 1960s ex-commission houses on bigger blocks, which are being updated, subdivided or redeveloped,” he said.

“And it is slowly gentrifying like Ashwood, Broadmeadows and Heidelberg Heights.”

First-home buyers and developers recently swooped on the three-bedroom house on 815sq m at 12 Bamboo Court, which sold for $700,000.

“This property was affordable and ripe for a knockdown-rebuild project,” Mr Stickley said.

“It is in a quiet court location near Dandenong Central.”

Barry Plant Dandenong/Noble Park/Keysborough director Chee-Ky Dunlop pointed to the major residential development project at 64-67 Box Street.

Formerly the site of the Doveton Secondary College, it was redeveloped into a high-quality residential estate with about 200 homes, he said.

“About 40 per cent of the homes have been sold,” Mr Dunlop said.

“Priced from $450,000-$650,000, they are ideal for entry-level buyers.”

Mr Dunlop described Endeavour Hills as a family-friendly suburb of rolling hills and established infrastructure, with good schools, transport and a shopping centre with more than 80 retailers.

“It is a magnet for younger families,” he said.

“Single and double-storey houses priced from $500,000-$1 million offer affordable options for all types of buyers.”

Barry Plant Narre Warren agent Kylah Fruend sold a five-bedroom double-storey house on 898sq m at 38 William Hovell Drive, for $906,000.

“It attracted good interest from families,” she said.

“Second-home buyers, who had missed out on a few homes and loved the size of the house, snapped it up after one inspection.”

Seven capital cities and three regional areas were identified in the Hotspotting report, including Melbourne City in Victoria, plus locations in New South Wales, Queensland, South Australia and Western Australia.

A property recovery trend has been observed by Hotspotting director Terry Ryder.

“This spring survey shows a dramatic upturn in the revival momentum in most market jurisdictions in Australia,” he said.

“Without question, recovery and resurgence are the dominant themes with seven out of 10 locations in the nation now having positive sales activity trends – a massive improvement on the situation three months ago, when we saw the first signs of revival.”

Real estate & property news
17 October 2023
Save Article

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