With so many people curious about the direction of the Melbourne real estate market, the Barry Plant Eastern Group decided to get some answers. Renowned economist, Dr. Andrew Wilson, was flown down from Sydney to speak to nearly 500 of our clients at an event on Thursday. Dr Wilson has a reputation for accuracy over decades of property analysis and his presentation showed that the Melbourne market is already climbing with monthly price increases being recorded every month since October 2022. His prediction was for further growth in both property prices and rents. This was largely based on the lead from the Sydney market and strong net population growth flowing into Melbourne since overseas doors opened post-Covid earlier in the year.

This trend is being felt on the ground in Melbourne’s east with continued bidding activity from multiple buyers recorded at most of our auctions taking many well past reserve. We are also finding many buyers keen to snap up properties “off market”. Frustrated property hunters are paying good prices for homes before they go online to try and tempt owners to sell before going public.

If you are looking at making a move, right now could be a very good time. Please feel free to contact our team to discuss your options for a public or private sale. Given that we are dealing with the very best buyers in the market, there is every chance that we already have your buyer on our books.

Please see below our impressive sales for the week!

• 3 Peach Way, Templestowe sold for $1,900,000
• 18 Bali Hi Boulevard, Templestowe sold for $1,820,000
• 15 Devlaw Drive, Doncaster East sold for $1,600,000
• 2 Glendora Lane, Doncaster East sold for $1,500,000
• 15 King Street, Templestowe sold for $1,424,000
• 7/7 Toinette Court, Doncaster East sold for $1,180,000
• 144-146 Manningham Road, Bulleen sold for $875,000
• 103/8 Hepburn Road, Doncaster sold for $635,000
• 2/28 Nelson Street, Ringwood sold for $471,000
• 44/81-97 Mitcham Road, Donvale sold for $395,000
• 328B/1 Colombo Street, Mitcham sold for $274,000
• 8 Cambridge Wynd, Templestowe Lower sold!
• 4/3-5 Skeffington Street, Bellfield sold!
• 2/28 Nelson Street, Ringwood sold!

Currently under offer and will be sold soon:

• 1/22 River Street, Briar Hill
• 9 Moola Close, Yallambie
• 3/137 Porter Road, Heidelberg Heights
• 9/927 Doncaster Road, Doncaster East
• 29 Jacana Avenue, Templestowe Lower
• 26 Lynette Avenue, Warrandyte
• 5/24 Bayswater Road, Croydon
• 32 Baird Street South, Doncaster
• 7 Park Hill Way, Doncaster
• 79 Jolimont Road, Forest Hill
• G11/832 Doncaster Road, Doncaster
• 19 Grant Crescent West, Ringwood
• 4 Cottonwood Court, Templestowe
• 5 Forest Court, Templestowe
• 4/1146 Whitehorse Road, Box Hill

Spiro Drossos
Managing Director
Barry Plant Eastern Group