‘Bit of a vibe’: Melb family riding the $1m+ wave north in Coburg North
The city’s million-dollar club has defied the odds and grown across the year, despite widespread home value falls for almost 200 suburbs. See the area that this family struck it lucky.
Elliot Giakalis and his family are riding Melbourne’s $1m wave north.
The city’s million-dollar club has defied the odds and grown across 2024, despite widespread home value falls for almost 200 suburbs.
In 2016, Mr Giakalis bought a Coburg home when it was just him and his golden retriever Sammy. He watched the suburb become a $1m neighbourhood a few years later.
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Now with wife Chantelle Sass, daughter Odette, 1, and another bub on the way, not to mention Sammy having been joined by Theo the labrador retriever, they needed to upsize.
The family looked at Oak Park, another of Melbourne’s newly minted $1m suburbs, but settled on the perfect home for them in Coburg North.
Renovated and offering a rear garden with heaps of edible plantings that was “an absolute oasis”, it was the perfect fit for their next step.
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And with their old home not far away, they know the suburb is worth every cent of its new $1m median price tag.
“The things we have where we are in Coburg we will still have access to, and the Merlynston shops have a bit of a vibe going,” Mr Giakalis said.
“And in Coburg North, we have friends and family close, some even within walking distance.”
As an added bonus, the nearby Merlynston train station is fourth last on the Upfield line, which is one of Melbourne’s shortest rail routes.
“So I am definitely getting a seat on the train in the morning.”
A total of eight areas have had typical home prices stretch to seven figures this year, including Diamond Creek, Oak Park, Greensborough and Keilor East.
See the full list in our story here.
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Originally published as ‘Bit of a vibe’: Melb family riding the $1m+ wave north in Coburg North
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