Eastern Suburbs that are Breaking Sale Price Records

view from above

If you’re looking for property investment opportunities beyond the inner city, the eastern suburbs are the ideal place to explore. The REIV identified Melbourne’s eastern and south-eastern suburbs as having the strongest price growth over the past ten years.

After the summer holiday slowdown, Melbourne’s 2018 auction market has kicked into gear with Blackburn recording three seven figure sales. Other top performers include Box Hill, Blackburn South and Doncaster East, the latter of which is coming off the back of achieving the highest number of house sales in Whitehorse and Manningham in 2017 with 225 reported sales.

The latest figures indicate that while price growth may be slowing down, demand is still strong throughout the east. This may partially be due to the abolishment of stamp duty for first home buyers for purchases under $600,000 and concessions for purchases over $750,000, encouraging a higher level of participation in the housing market.

Latest Figures From the East

Here are the latest figures for all houses in the top performing eastern suburbs according to realestate.com.au, using data from the previous 12 month period up until 14 May 2018:

  Annual Growth Median Price Median Rent Rental Yield Rental Demand
Blackburn 13.1% $1.41M $455/wk 1.7% High
Balwyn 11.6% $2.33M $700/wk 1.6% High
Box Hill 16.7% $1.77M $450/wk 1.3% High
Camberwell 11.4% $2.23M $750/wk 1.7% High
Doncaster 13.7% $1.41M $501/wk 1.8% Average
Glen Iris 10.7% $2.03M $750/wk 1.9% Average
Mitcham 12.4% $1.07M $440/wk 2.1% High
Ringwood 12.3% $900k $420/wk 2.4% High
Wantirna 13.1% $955k $445/wk 2.4% High

Focus on Local Demographics

Remember that the eastern suburbs market produce varied results, with a diverse range of people looking in the region for different reasons. It’s essential to understand local market behaviours before making any decisions based on wider performance.

Residents range from affluent families looking to move near the private school belt in Blackburn and Camberwell to working-class families and migrants looking for affordable, well-positioned properties with access to high-quality amenities close to the city as well as in outer eastern suburbs like Ringwood, Doncaster and Wantirna.

What Kind of Properties are Selling?

There’s still gold throughout the leafy eastern suburbs, but what kind of property should you look for? Keep an eye on the huge amount of real estate data available online, find out what kind of demographics are attracted to the area, what property features are appealing to them, whether any infrastructure projects are planned or in progress and what kind of amenities are in certain neighbourhoods that draw people there.

In the inner east, quality public and private schools are a major drawcard for families, as are single-fronted Victorian homes for retired, or soon to be retired people. You can also find large blocks from the 50’s and 60’s with small homes on them that offer solid opportunities for price growth and development opportunities down the line. Some experts are also saying the humble Californian bungalow, prolific in Glen Iris and throughout Stonnington may be the next big real estate winner for 2018.

Share:

More Posts

Meet Our June CSP Grant Winner

Meet Our June CSP Grant Winner Congratulations to Viv’s Recare, on being our June CSP Grant recipient. Viv’s ReCare hosts fortnightly community lunches offering carers and those they care for the chance to relax and chat to people in similar situations, in a fun, friendly, safe environment. Guests receive entertainment, live music and activities, all whilst enjoying morning tea and a

The Best Summer Sales Are Built in Winter

The Best Summer Sales Are Built in Winter The sun is shining, days are getting longer, and the market is heating up – summer is traditionally peak season for selling houses. But what if we told you the secret to a successful summer sale lies in the cooler months? Here’s the truth: the groundwork for a smooth and profitable sale

Beat the Winter Blues: 9 Fun Activities for the School Holidays!

Beat the Winter Blues: 9 Fun Activities for the School Holidays!   Get crafty at Burwood One with their Winter Wonderland Creations program Cost: Free Dates: July 1 – 5 Location: Burwood Celebrate Christmas in July at Frosted, a Winter Spectacular Cost: From $32.50 Dates: June 21 – July 21 Location: Narre Warren Be wowed by the array of arts,

Market Update | June 2024 Edition

As we move from autumn into winter, we do so with a continued level of consistency across the Melbourne Real Estate market. CoreLogic data from May shows a 0.1% increase in the average dwelling price across Melbourne for the month, in line with the trend seen across most Australian capital cities. Auction clearance rates remained stable in May, averaging just

Send Us A Message

Good Job!

Thanks for taking the time to let me know about your needs.

I look forward to helping you find your new home.​

Buyer Requirements

Thank you!

I’ll be in touch soon with information on the suburb you’re buying in.

Find Out More