Melbourne may have hibernated through winter and early spring on the back of a sixth lockdown; however, the housing market was one sector that failed to sleep as homebuyers (virtually) flocked to the market and helped push annual growth to their highest level in 30 years.

According to the latest CoreLogic National Home Value Index released in early October, property values in Melbourne increased by 15 per cent; nationally, the figure rose by more than 20 per cent — the fastest annual growth recorded since 1989.

While the housing market across the country is beginning to see a natural slow-down in the cycle, the property sector in the City of Manningham continues to hold strong, with a series of super Saturdays this spring reflecting the strength of the market.

According to REA data, in the 12 months to September 2021, the median house price in Templestowe climbed from $1.4m to $1,593,500, while house values in Warrandyte (up from $1.1m to $1.385m) and Donvale (up from $1.3m to $1.4m) also rose.

In early October, our award-winning sales team sold its 200th property during the current lockdown, which is quite an impressive achievement, while a number of properties have been sold well over their reserve prices.

With the market seeing two years of buyers crammed into one as a result of numerous extended lockdowns, demand outweighing supply has therefore underpinned the strong sales results and will continue to do so into 2022 given the large volume of buyers eager to capitalise on the record-low interest rates. Since last October, buyers have had a particular appetite for larger family homes and acreage properties.

If you’re a vendor inspired to take advantage of the positive market conditions, please call our experienced team so we can match our buyers to your property.

Below are our sold properties this week:

• 8 Mahoneys Court, Warrandyte sold for $2,308,000
• 16 Dellview Court, Donvale sold for $2,180,000
• 1 Antigone Avenue, Templestowe Lower sold for $1,448,000
• 2/22 Powers Street, Donvale sold for $1,075,000
• 3a Ireland Avenue, Doncaster East sold for $1,685,000
• 1 Ashford Street, Templestowe Lower sold for $1,560,000
• 14 Argyle Street, Donvale sold for $1,255,000
• 54 Santa Rosa Boulevard, Doncaster East sold!
• 5 Althea Place, Doncaster sold!
• 2/17 Warringal Street, Bulleen sold for $1,220,000
• 2/65 Porter Street, Templestowe sold for $1,048,000
• 6/114-116 Parker Street, Templestowe sold for $700,000
• 17/863 Doncaster Road, Doncaster East sold!
• 2/11 Clark Road, Ivanhoe sold for $2,260,000
• 6 Darwinia Rise, Eltham sold for $1,610,000
• 66 Research Warrandyte Road, Research sold!
• 12 Echidna Road, Eltham sold for $1,510,000
• 24 Ely Street, Eltham sold for $1,430,000
• 21 Howgate Court, Eltham sold for $1,425,000
• 2/65 Porter Street, Eltham sold for $1,048,000
• 2/32 Binns Street, Montmorency sold for $880,000
• 5/46 Station Street, Rosanna sold for $731,000
• 10 Crimson Avenue, Blackburn South sold for $1,725,000
• 13 Newbury Street, Mitcham sold for $1,004,000
• 2/22 Burnt Street, Nunawading sold for $928,000
• 37 Springvale Road, Nunawading sold for $921,000
• 34a Deakin Street, Mitcham sold for $761,000

Under offer & will be sold soon:

• 107/195 Thompsons Road, Bulleen
• 2/2 Trevor court, Nunawading
• 88 The Grange, Templestowe
• 2/5 Foote Street, Lower Templestowe
• G16/1 Red Hill Terrace, Doncaster East
• 126 Ryans Road, Eltham North
• 61 Rose Avenue, Templestowe Lower
• 1/34 William Street, Greensborough
• 2/17 Glen Katherine Drive, St Helena
• 24/330 Springvale Road, Donvale
• G08A/164 Manningham Road, Bulleen
• 2/42 Glenburnie Road, Mitcham
• 37 Piper Crescent, Eltham
• 66 Park Road, Eltham
• 6/3-5 Chauvel Street, Heidelberg
• 108/8-10 Hepburn Road, Doncaster
• 153A Ryans Road, Eltham North
• 307/5 Sovereign Point Court, Doncaster
• 1/34 William Street, Greensborough

We wish you a safe and happy weekend!

Kind regards,

Spiro Drossos Managing Director/Auctioneer

Manningham | Eltham | Ivanhoe-Heidelberg | Whitehorse