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2018 real estate market wrap up.

Real estate & property news
21 December 2018
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2018 has been the year that the market adjusted and came off an unsustainable high growth period that was stretched over an eight to 10-year span. The ‘corrected’ market has put families back into the property game and turned their dreams of owning luxury lifestyle homes into reality.

Whilst Manningham’s median house price dropped 2.3 percent to $1.27 million in the 12 months to September, according to CoreLogic data, the municipality’s median house price has still grown by a staggering 67.1 percent in the past five years.

Meanwhile, in Whitehorse, the median house price fell by 1.1 percent to $1,186,500 in the 12 months to August. Despite the slight drop, the booming market still had median price growth of 77.1 percent in the past five years. We’ve seen many local buyers return to the market. We’ve also experienced many parents and children combining incomes to purchase one large family home together.

Family-friendly areas like Blackburn have weathered the softening market best and buyers living 10 to 20km away have been attracted into Whitehorse because of the great value. Pockets with planned infrastructure improvements remain popular, with Box Hill and Burwood East definitely becoming hotspot areas, with public transport, TAFEs and universities being the driving forces that have sustained solid housing prices.

Burwood East units had the municipality’s largest price growth in the past year, at 14.4 percent. Both houses and units in Box Hill also continued to grow in median price, CoreLogic records show. Box Hill, coined Melbourne’s “mini-CBD”, continued to draw buyers to the table. Everybody is keen to get a piece of Box Hill because they know the government’s long-term vision of it being a small city will continue to improve its value.

In Nillumbik and Banyule in 2018, two suburbs have ranked in the top ten of the most sought-after suburbs for home buyers across Australia. Eltham is nationally the fourth most popular suburb in Australia for all kinds of property buyers and the third most sought after for house buyers in Victoria. And Eltham North ranks in the top ten nationally of sought-after suburbs for property buyers across the board, according to the latest figures from’s new Property Outlook report. Many buyers are flocking to Nillumbik from Melbourne’s inner northern and eastern areas, attracted by the leafy suburbs, good schools and high quality of living.

Sales from our team this week include:

  • 9 Lynnwood Parade, Templestowe Lower sold for $1,380,000
  • 3/48 Gedye Street, Doncaster East
  • 96-98 Beverley Street, Doncaster East sold for $2,968,888
  • 70 Latrobe Street, Bulleen sold for $1,131,000
  • 6/27 Hazel Drive, Templestowe Lower sold for $720,000
  • 6 Harvell Court, Doncaster sold for $1,038,000
  • 7 Wattamolla Ridge, Donvale
  • 46 Bellevue Avenue, Doncaster East sold for $1,100,000
  • 3 Linford Close, Donvale sold for $1,592,000 (pictured above)
  • 18 Tatterson Court, Templestowe sold for $1,380,000

Currently under offer:

  • 12/765 Doncaster Road, Doncaster
  • 1 Winfield Road, Balwyn North
  • 55 Bellevue Avenue, Doncaster East
  • 240 Porter Street, Templestowe
  • 58 Pinnacle Crescent, Bulleen
  • 1001/2 Sovereign Point Court, Doncaster
  • 26 Illawong Drive, Donvale
Real estate & property news
21 December 2018
Save Article

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