Chat with us, powered by LiveChat

Home prices soar higher in Lower Plenty and Eaglemont

Real estate & property news
31 July 2023
Save Article

Barry Plant Eltham agent sells Lower Plenty home sold by her father 40 years earlier

A pair of suburbs in Melbourne’s northeast are among more than a dozen in the northern region where house prices have increased in the past year.

The median house price in Lower Plenty rose 12.9 per cent to $1.62 million, while in Eaglemont it jumped 3.2 per cent to $2,522,500, in the past 12 months to June, according to the Real Estate Institute of Victoria.

Rising demand has pushed up prices in Lower Plenty where there is a shortage of properties for sale, according to Barry Plant Eltham agent Sheryl Emerson.

“Homes here are very tightly held,” she said.

“But this is a good time to sell, as there is strong interest in well-presented and renovated properties in the area.”

Studded by residential properties surrounded by low-density acreages, the suburb is sought after for its leafy environment and relaxed family-friendly lifestyle, according to Ms Emerson.

A long-time resident in the Nillumbik Shire, Ms Emerson grew up in Lower Plenty and lived there for more than 60 years.

“I attended the primary school, as did my children,” she said.

“Lower Plenty Primary is a great school.”

With Westerfolds Park and walking trails at its doorstep, the suburb has village shops, a pub, cafes, a supermarket, and bus services.

Montmorency and Eltham train stations are nearby and there is easy access to Eltham College and Ivanhoe Grammar.

Fully renovated homes are in demand, as are multi-million properties in the exclusive Rosehill Road precinct, said Ms Emerson, who has more than 50 years’ experience in real estate.

A four-bedroom house on 887sq m at 9 Tyalla Close (pictured above and below), has sold for $1.41 million to a family from Clifton Hill.

“It had been renovated but could do with further updates,” Ms Emerson said.

“The buyer loved the lovely landscaped garden and mid-century style of the home.”

Coincidentally, the seller bought the property in 1982 from Ms Emerson’s father, then a real estate agent with the local Neville Emerson agency.

The merchant builder-style house with timeless character features timber ceilings with exposed beams, an exquisite outdoor entertainment area and verdant outlooks.

A modern three-bedroom townhouse for sale at 19 Monarch Ridge, has attracted 30 groups because of its price point, size and setting, according to Barry Plant Eltham agent Rhys Burke.

“Interest is coming from buyers in neighbouring suburbs of Templestowe and Doncaster,” he said.

“It’s a decent-size home with elevated treed aspects.”

Priced at $800,000-$880,000, the property is in the Montmorency South Primary School and Eltham High School zones.

Hohnes Hill Reserve, Barak Bushlands, Lower Plenty and Eltham Village shops, and Eltham railway station are nearby.

“This property is move-in ready and made for family living,” Mr Burke said.

“It nestles in a lush green landscape, which is what Lower Plenty living is all about.”

If you’re thinking about selling your home, speak to the team at Barry Plant.

Real estate & property news
31 July 2023
Save Article

Get more from Barry Plant.
Sign up for our newsletter

Sign up now to stay informed about market trends, investment opportunities, and exclusive property listings. Don't miss out on valuable insights - join our community today!