Where house listings jumped 154 per cent: Suburbs savvy buyers should target
10 Melbourne suburbs have seen a double to triple per cent rise in the amount of homes for sale in the past year. SEE THE LIST OF SUBURBS.
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COASTAL retreats, leafy locales and affordable areas are all on the table for buyers seeking choice, with listings in 10 Melbourne suburbs doubling to tripling in a year.
The number of houses and units for sale in Mt Martha on realestate.com.au grew by a staggering 154 per cent in the year to July 2022.
Also on the Mornington Peninsula, house listings in Bittern rose 146 per cent.
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The area of 3705 residents has a $900,000 median house price, a more affordable option than Mt Martha’s $1,647,500m median.
Donnybrook in the city’s north experienced a 145 per cent increase in houses on the market.
Listings rose significantly in the tree-lined northeastern suburbs of Mount Evelyn (a 136 per cent increase), Ivanhoe East (a 109 per cent increase) and Montmorency (a 104 per cent increase in houses and units).
Danckert Mt Martha director Sam Danckert said the Covid lockdowns beginning in March 2020 “totally accelerated” the sea-change trend that drove many Melburnians to the Peninsula.
“It almost immediately flipped from a regional style market to a metro style market,” Mr Danckert said.
“People have realised that Mt Martha is commutable to Melbourne.”
He said realistically priced properties were still attracting multiple offers and selling within two to three weeks.
But occasionally, a property will still be snapped up rather quickly – like a coastal-style weatherboard house at 6 Abeckett Close.
It had a $1.795m-$1.895m asking range but fetched an undisclosed price “north of $1.9m” last week.
“That sold in four days and we had 10 qualified buyers inspect,” Mr Danckert said.
Roberts and Green Real Estate Hastings owner Lisa Roberts said the ability for people to work away from offices had driven swelling numbers to coastal areas including Bittern.
“The prospect of working from home and having big blocks and a sea or tree change appealed,” Ms Roberts said.
Her colleague, agent and auctioneer Karen Taylor, said lifestyle properties that were renovated or set on large blocks “are still attracting a lot of buyers from Bayside and the inner suburbs”.
She said a prime example of a sought-after lifestyle home was a house at 2 Cooke St, Bittern, set on 6729sq m.
Featuring multiple sheds and a study, the three-bedroom abode is for sale with a $1.555m price tag.
Closer to Melbourne, Donnybrook was joined by the Melton municipality’s Bonnie Brook as a suburb with several new estates and more affordable median house prices ($657,750 for Donnybrook and $610,000 for Bonnie Brook).
Harcourts Mernda director Vanny Bains said in the past two to three years, developers had sold a lot of Donnybrook land to first-home buyers and investors.
“You can get your own house and land here from $500,000 plus which appeals to people who don’t want to buy an apartment or townhouse,” Mr Bains said.
PropTrack economist Angus Moore said the good news for buyers in Melbourne’s northwest was “that there’s a lot more choice this year than has been the case for certainly the past couple of years” with a lot of new listings and homes taking longer to sell.
Live like a rap star or spy in Balwyn North
A jaw-dropping Balwyn North house that featured in a rap music video and was described as perfect for James Bond is set to become one of spring’s hottest properties.
Adam and Rina Bulic are selling their five-bedroom home at 23 Yeneda St with a $6.3m-$6.93m price guide.
The couple plan to build an even more spectacular abode to live in with daughters Lola and Mila, and cavoodle Lulu.
“For me, if James Bond was to have a home in Melbourne, this would definitely be one he would look at,” Mr Bulic said.
He said this was because the house included a six-car garage for the secret agent to keep his vehicles, a pool for exercise, a wine cellar to store 400-500 bottles, and cutting-edge technology like smart-home automation and a seven-zone integrated speaker system.
The British spy could enjoy Dandenongs views from the main bedroom’s 600kg, 4m glass window and use the walk-in wardrobe, inspired by Rina’s love of classic movies and fashion.
Mr Bulic, who runs bespoke construction firm Bluestar Living, spent four years planning and working on the 2017-constructed house which includes an outdoor mini soccer pitch.
Ray White Balwyn director Helen Yan described the house as “elegant” and “very modern”.
David and Diana Nutter are selling the oldest house in Berwick, one of the top suburbs for supply of family homes this spring.
The three-bedroom house on 4687sq m at 31 Quarry Hills Drive last sold in 1990 for $361,000, according to CoreLogic, and they now have $4m-$4.4m price hopes.
Berwick has boomed since then, Mr Nutter said: “When we bought it there were two houses in the street and now there’s 100; ours was here and two across the street were being built.”
“It was solid and it had history coming out its ears.”
The couple have added a garage, conservatory, gazebo and “completely overhauled” the plumbing and electricity during their 31-year stint.
“It is sad,” Mr Nutter said about leaving the home.
“But we’re starting to get old and need to think about downsizing.”
Expressions of interest through Peake Real Estate close September 16 at 5pm.
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