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Latest figures defy doomsayers

Real estate & property news
08 October 2022
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You may have seen it mentioned in Saturday’s Herald-Sun, but in case it skipped your attention the latest property price data from PropTrack has confirmed what we have suspected for most of 2022. The fact is that whilst the property market in Melbourne has certainly changed, the change is nowhere near as dramatic as many in the media would have you believe.

In fact, if you read the full story by Alesha Capone and the associated suburb price data that covered pages 32 to 35, you will see that “two thirds of suburbs have defied the overall market drop and posted home price rises in the past three months”.

Importantly, suburbs in our area have fared very well.

Running our eye over the suburb-by-suburb breakdown, we noticed that over the past year most of our local suburbs have recorded an increase in values, such as:

Aberfeldie – up 12.03%

Ascot Vale – up 3.28%

Avondale Heights – up 6.88%

Essendon – up 5.41%

Keilor East – up 5.26%

Keilor Park – up 5.17%

Maribyrnong – up 4.25%

Moonee Ponds – up 3.73%

Niddrie – up 4.20%

Parkville – up 8.42%

Pascoe Vale – up 3.05%

Strathmore – up 5.55%

Now, keep in mind that when you break down these statistics to an individual level there can be some strange numbers due to the limited number of sales. However, the overall picture from our point of view is clear, the property market in the City of Moonee Valley and surrounding suburbs is demonstrating real resilience, with many properties reaping the benefit of strong buyer competition due to the ongoing shortage of properties for sale.

The important message to come out of data like this is that if you are considering making a move in 2022, it would be quite a misjudgement to be distracted by the unfounded scaremongering in some sections of the media.

The figures show that the current Spring market could be an opportune time to sell while values are still clearly holding up well. So if you’d like to chat about your options, why not give us a call this week at Barry Plant Moonee Valley on 9373 0000.


Bill Karp

Director – Barry Plant Real Estate

Essendon, Keilor East & Gladstone Park

Real estate & property news
08 October 2022
Save Article

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