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Melbourne property market increasing over long term.

Real estate & property news
09 February 2019
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A recent article from RP Data reminds us that real estate should be viewed long term. The report reveals that over the last 20 years, to January this year, nationally, dwelling values have increased by 197.4% and if you had a home in Melbourne for that period of time you would have seen it increase in value by a whopping 274.6% – ahead of even Sydney who recorded a 201.9% increase.

Looking at the housing value growth over the last five years to January 19, nationally values increased by 19.5% while Melbourne homes saw a 29.6% increase in value, pipping Sydney once again who came in at 28.9%.

There have been some interesting sales this week, starting with a five-bedroom home in Lower Templestowe.  Perched on a substantial block of land and close to all amenities the property offered a very comfortable home with pool, development potential or even the ability to sub-lease a separate portion of the home.  The property sold for $2,100,000. Meanwhile, a virtually brand-new executive 4-bedroom residence in Box Hill North sold for $1,335,000.

This week’s sales from our team include:

  • 295-299 High Street, Templestowe Lower sold for $2,100,000
  • 281 Blackburn Road, Doncaster East sold for $900,000
  • 55a Bellevue Avenue, Doncaster East sold for $1,330,000
  • 8 Lomond Court, Warrandyte
  • 10 Wakefield Place, Templestowe sold for $1,300,000
  • 20 Hotham Street, Templestowe Lower sold for $900,000
  • 31 Powers Street, Donvale sold for $1,320,000

Currently under offer:

  • 3 Adelyn Avenue, Donvale
  • 20 Rye Street, Mitcham
  • 2/9-11 Leach Street, Briar Hill
  • 2/55 Russell Crescent, Doncaster East
  • 2/114 Thompsons Road, Bulleen
  • 8 Sandra Street, Bulleen
  • 89 Hodgson Street, Templestowe Lower
  • 17 James Street, Templestowe Lower
  • 6 Fairbank Crescent, Templestowe
  • 170 Macedon Road, Templestowe Lower
  • 5/216 Templestowe Road, Templestowe Lower
Real estate & property news
09 February 2019
Save Article

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