22nd October 2024 / Jeremy Desmier: Market Update | 19 & 20 October 2024

Another busy week in real estate has gone by, as 2024 continues to fly by!

Victorian suburbs with home prices tipped to grow

Melbourne suburbs tipped for a population-driven home price recovery in 2025 include Keilor East, St Kilda East, Glen Waverley, Altona North and Spring Gully in Bendigo. The head of one of Australia's largest real estate firms, John McGrath, has flagged that Victoria's population rising at one of the nation's most rapid rates at the same time as constraints on the number of tradies available to build homes is slowing housing construction.

Keilor East tops his list of suburbs to benefit in the new year as the prospect of a new train station under the Melbourne Airport Link combines with good access to major freeways, lifestyle destinations and proximity to Highpoint Shopping Centre.

PropTrack figures show the area has a $1.045 million median house price, making it likely to benefit from buyers who had been priced out of more expensive neighbourhoods.

St Kilda East got the nod as a convenient area that has reasonable access to the beachside amenities of its busier neighbour, St Kilda, but with more of a suburban feel.

A combination of top schools, both Monash and Deakin universities nearby, as well as a wide array of restaurants, shops and transport options are behind Glen Waverley's short-listing.

Fletchers Auction Weekend

The Fletchers Group was thrilled to achieve a strong auction clearance rate of 79% for our clients.

In Mont Albert North, three bidders competed to secure the single-level, luxury home at 18A Allison Road. A low-maintenance dream in a convenient location, Auctioneer Jeremy Desmier sold the property under the hammer for $1,652,000.

Elegantly sitting on a corner block in a highly convenient neighbourhood, the three-bedroom home at 2 Davis Street in Burwood East was sold under the hammer by Auctioneer Aaron McDonald for $1,241,000.

This coming week, more than 3,000 homes are scheduled for auction across the country, before a quieter weekend due to the Melbourne Cup public holiday. If we can assist with any of your real estate needs, please give us a call.