Chinese buyers in Melbourne moving further east to Doncaster East, Wheelers Hill

MELBOURNE’S east remains the city’s most popular area with Chinese property buyers, but new data shows they’re extending their search for homes further from the CBD.

Melbourne’s leafy east remains a hotspot for Chinese buyers. Picture: Stephen Harman

MELBOURNE’S leafy east remains the city’s most popular area with Chinese property buyers, but new data shows they’re extending their search for homes further from the CBD.

Doncaster East and Wheelers Hill have gained significantly in popularity with users of myfun.com — a website presented in Mandarin that helps Chinese househunters find Australian properties for “investment, education and immigration”.

RELATED: Changing face of Melbourne’s leafy east

The former, 17km from the CBD, was the sixth most searched Victorian suburb on the website in the last quarter, up from 18th in the previous three months.

Wheelers Hill, 23km from the city, rose to ninth from 19th in the same period.

Enduring Chinese hotspot Glen Waverley, 19km from the CBD, was the state’s — and country’s — most inquired about suburb on myfun.com. It came in ahead of Doncaster, Box Hill, Toorak and Balwyn.

Carlton was the only suburb outside Melbourne’s east or southeast to make the top 10 list.

Real estate agents say while access to top schools and universities, public transport and shops remain the main factors luring Chinese-background residents to Melbourne’s east, affordability is also pushing some further from the city centre.

Chinese buyers priced out of Doncaster are turning their focus to Doncaster East, and a similar pattern is pushing Asian househunters from Balwyn to Glen Waverley, and Glen Waverley to Wheelers Hill, agents say.

Harcourts Judd White director Dexter Prack said Balwyn-based developers of French provincial neo-mansions, typically favoured by Chinese-background buyers, had noticed this trend and begun moving their business to Glen Waverley.

“I’ve just sold three blocks of land to two Balwyn builders,” Mr Prack said.

“They would usually build in Balwyn, but they’re coming to Glen Waverley — they say the land value’s better and it’s easier to sell these $3 million homes here.”

Mr Prack said Wheelers Hill had also attracted a rush of Asian buyers over the past 12 months: “if they can’t afford Glen Waverley, they go into the next suburb, being Wheelers Hill.

“Caulfield Grammar is also a big plus.”

Jellis Craig Doncaster director Chris Savvides said Doncaster East was similarly benefiting from its neighbour Doncaster becoming more expensive.

“The area also has great infrastructure now — the shopping is very good, the public transport, EastLink means it’s only a couple of minutes drive to Box Hill.

“But schools are the biggest drawcard. (Chinese buyers) will pay a premium price to be ... in a school zone.”

Nerida Conisbee, chief economist of REA Group which operates myfun.com, said the fact Carlton was home to the University of Melbourne had boosted it popularity with Chinese buyers.

“Many apartments (are) being purchased for Chinese students studying in Australia,” she said.

@SamLandy

VICTORIA’S MOST SEARCHED SUBURBS ON MYFUN.COM

1. Glen Waverley (same as the previous quarter)

2. Doncaster (+1 position from the previous quarter)

3. Box Hill (-1)

4. Toorak (same)

5. Balwyn (+2)

6. Doncaster East (+12)

7. Balwyn North (+1)

8. Kew (-3)

9. Wheelers Hill (+10)

10. Carlton (+7)

11. Burwood (-3)

12. Brighton (-3)

13. Hawthorn (-8)

Source: REA internal data, for January 1 to March 22, 2016