Homes sell fastest in Wandin North
Swift sales in Melbourne’s eastern suburbs. Wandin North is Melbourne’s fastest-selling suburb where homes fly off the shelves in an average 15 days.
Properties in the outer-eastern suburb are selling well before the city’s 38-day average time on the market, according to PropTrack data.
Other top performers for swift sales are predominantly in suburbs east of the CBD, including Belgrave where homes are changing hands in 16 days, Bayswater North (18 days), and within 20 days in Heathmont, Montrose, The Basin and Croydon.
Many buyers were attracted to the leafy lifestyle in these suburbs, particularly in the affordable outer east where there was hot competition for homes, PropTrack economist Angus Moore said.
In Wandin North, the median house price is $820,000, according to realestate.com.au.
“Wandin North is a hotspot,” he said.
“Homes are tightly held in this area and when they come on the market, they are snapped up in a blink of an eye.”
It took just three days to sell the four-bedroom house on a corner 1010sq m at 1 Greenglades Court, which changed hands above expectations for $887,500.
“Two young families offered to buy the home,” he said.
“And it happened so quickly, we didn’t get a chance to organise any other inspections.”
The buyers were attracted to the modern home’s multiple living areas, impressive outdoor deck, and peaceful setting near a park.
At 2 Keith Court, a three-bedroom house on 1140sq m sold in six days for $781,500.
“We had six offers for this property,” Mr Stokes said.
A young Rowville couple with two children, who wanted to live near family and friends in the neighbouring suburb of Lilydale, bought the home.
“They were priced out of Croydon and started looking at Wandin North,” Mr Stokes said.
“This was the first property they saw.”
And a four-bedroom house on 993sq m at 3 Bellbird Place, was on the market for only a week before it changed hands for $1,000,020, well above the $890,000-$950,000 price range.
There were multiple offers for the updated property, complete with a study or fifth bedroom and an alfresco zone with a swim-spa. It sold to a family from Croydon with teenage children.
“A property like this in Wandin North costs about the same as a townhouse in Croydon,” Mr Stokes said.
With a proximity to the Warburton Rail Trail, bus services, shops and cafes, Wandin North has plenty to entice those wanting a tree-change.
“Wandin North used to be considered very country,” Mr Stokes said.
“But now there’s a buzz about the place.”
Lilydale, with its metropolitan train line to the city and established amenities, is only six minutes away, and there is easy access to quality schools and gourmet restaurants.
The suburb was also a magnet for downsizers, moving for larger acreages to smaller more manageable homes.
Renovated or modern family homes here were selling well, compared to those needing updates or have maintenance issues, Mr Stokes said.
Another area recording swift sales is Montrose, where homes are selling within 20 days of hitting the market.
Properties were tightly held and there was limited supply on the market, according to Barry Plant Lilydale director Ashley Hutson.
“Families love the village lifestyle here,” he said.
“And the easy access to the Yarra Valley and the city via the freeway.”