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Listing numbers tipped to rise in the north west

Real estate & property news
30 January 2023
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Outstanding performances by luxury A-grade properties in Taylors Lakes, Taylors Hill, Hillside.

House hunters will be spoiled for choice in the coming months as the number of properties for sale is predicted to rise across suburbs in Melbourne’s northwest.

Numbers were expected to lift in the region as the property market stabilised in the last three to four months, according to Barry Plant Taylors Lakes director James Hatzimoisis.

“While December is traditionally a slow month for listing properties for sale, it was particularly strong for us last year,” he said.

“I expect more of the same in the first part of 2023 as sellers reassess their priorities.”

Unprecedented market fluctuations were experienced in 2022, noticeably during the second half of the year, Mr Hatzimoisis observed.

“There is no doubt that 2022 was a challenging market,” he said.

“We navigated eight interest rate rises which resulted in a shift in prices, values and buyer sentiment.”

Due to high demand from buyers wanting to upgrade, good quality A-grade properties in the $1.5-$2.5 million price range continued to perform strongly.

In contrast, B and C-grade properties, priced around $500,000-$700,000, experienced a more pronounced shift in buyer sentiment as borrowing capacity changed.

“The interest rate rises particularly affected younger buyers in the second quarter, particularly first-home buyers,” Mr Hatzimoisis said.

“There was a greater impact on demand and therefore prices.”

He added that the number of properties for sale in 2022 leading into 2023 was still healthy, though 15 to 20 per cent lower than in 2021.

There were several standout sales last year, including a record-breaking result achieved in September for the luxury four-bedroom house on 1001sq m at 3 Grange Terrace, Taylors Hill (pictured below).

Multiple local bidders pushed the price up to a whopping $1.86 million, Mr Hatzimoisis said.

Offering resort-style living in a premium location, the prestigious family home features multiple living and dining areas, including a dedicated theatre room, an alfresco zone with a Balinese hut, and a heated pool with a spa.

3 Grange Terrace, Taylors Hill.jpg

In Hillside, a four-bedroom showpiece on 2000sq m at 8 Stillia Court (pictured below), was snapped up for an eye-watering $2.25 million in August.

The indulgent 72-square dream home offers all the bells and whistles, including a first-class theatre room and an all-weather decked alfresco area with a premium barbecue area, pool, spa and a cabana or gymnasium.

8 Stillia Court, Hillside

In Taylors Lakes, an outstanding four-bedroom house on 1350sq m at 15 Mccubbin Drive (pictured below), sold in November for an undisclosed price of more than $2.1 million.

The elegant family home with a private putting green showcases multiple living and dining areas, a super-sized designer kitchen, a rumpus room with fully equipped kitchenette, and an enormous alfresco zone leading to a pool and spa.



And in Caroline Springs, a sensational five-bedroom house with four bathrooms at 4 Jackson Place (pictured below) sold for $1.725 million in December.

The opulent family home with a Georgian-inspired façade showcases 2.7m high ceilings, a stunning timber staircase, porcelain tiles and solid timber flooring.

Its flexible floorplan includes a fully equipped theatre room, a gourmet kitchen with granite benchtops, and vast meals and family area.

The spectacular alfresco area has the wow factor with built-in speakers, a kitchenette, a bathroom and views of a sparkling solar-heated pool.


More quality homes are set to star in the market this year, including the four-bedroom house for sale at 11 Wakelin Crescent, Taylors Lakes (pictured below).

With a price guide of $1.35-$1.4 million, the much-loved family treasure delivers an enviable lifestyle with its clever floor plan, top-class appointments, and terrific living and entertainment spaces.

It has versatile living areas that meet the needs of a growing family, including a theatre or rumpus room and a sheltered outdoor entertainment zone with a pool.

The property is near schools, buses, trains and shops at Watergardens Town Centre.


Another property to come on the market is the stunning five-bedroom house on 6000sq m at 3 Telopea Court, Hillside, priced at about $3 million.

“This magnificent property will win the hearts of buyers wanting a superior lifestyle in a blue chip location,” Mr Hatzimoisis said.

While the market has been quite resilient with good demand across the board, pricing was important, he advised.

“If a property is presented, marketed and priced well, it will achieve the desired outcome,” he said.

“And while there may be more rate rises in 2023, we firmly believe that any adjustments will be absorbed by the market.”

Real estate & property news
30 January 2023
Save Article

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