Where Melbourne sellers are expected to cash in this year

The demand from buyers for homes in these areas exploded towards the end of 2021, setting them up for good selling conditions in 2022. Check out the top spots for first-timers, families and luxury buyers.

Buyer demand for homes in Warrandyte, Park Orchards and Lower Plenty exploded towards the end of 2021, setting the trio on good selling terms this year.

Warrandyte property listings on realestate.com.au have attracted nearly 200 “very engaged” buyers on average over the past three months – well above city and country averages of 37 and 26 respectively.

The northeastern suburbs also saw median home price growth of 12 percent in the quarter.

Homes in Park Orchards and Lower Plenty were both viewed by an average of 176 serious home hunters during the period, while a typical home increased by around 25 percent in value.

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Demand and prices also increased in Alphington (155 buyers per ad, 16 percent gains), Upper Ferntree Gully (143, 10 percent), Hampton East (140.5 percent) and Wonga Park (140, 13 percent) – holding them in good stead to perform in 2022.

The same goes for Research, Montmorency and Fitzroy, according to realestate.com.au.

REA Group’s executive director of economic research, Cameron Kusher, said the list was dominated by “areas of the east with large properties,” suggesting that Covid’s amplified push to lifestyle destinations in low density could continue into the new year.

“Perhaps this is a signal that the shift to remote working is going to continue,” he said.

“But the presence of Fitzroy and Alphington indicates that downtowns are getting a little more popular as things start to open up. “

Further research on realestate.com.au identifying first-time homebuyers in the suburbs who inquire about the most indicates high demand for homes in exterior postcodes like Craigieburn, Pakenham, Clyde North and Werribee, and units in Southbank and in the CBD.

“First-time homebuyers find it difficult to keep pace with the growth of the market, so they look to areas that are affordable and where they can potentially get government support through the First Home Loan Deposit Scheme,” said Mr. Kusher.

“Prices have also fallen a lot (in the city center apartment market). “

Carmel Alabakis sold his Werribee home for $ 696,000 in a hot auction involving six bidders in late 2021.

She was thrilled, but not necessarily surprised at the request, as the area offered many attractions such as the “beautiful” Werribee Mansion, the zoo, the marina and the Werribee South Beach.

Mr Kusher also expected the rush to regional areas seen during the pandemic to “slow down a bit this year.”

But Propertyology research chief Simon Pressley predicted the state’s strongest real estate markets would be in the regions, with 20% gains on the cards for Bendigo, Torquay, Wangaratta, Warrnambool and Wodonga.

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First-time buyers (homes and units, median $ 500,000 to $ 750,000)

* First-time home buyers in the suburbs learn more at realestate.com.au

Craigieburn (houses) $ 605,000

Clyde North (houses) $ 670,000

Melbourne (units) $ 500,000

Pakenham (houses) $ 591,250

Point Cook (houses) $ 710,000

Southbank (units) $ 565,000

Deliveries (homes) $ 590,000

Werribee (houses) $ 562,500

Wollert (houses) $ 615,000

Family buyers (homes, median $ 750,000 to $ 1.75m)

* Suburbs in high demand on realestate.com.au, with at least 5% median house price growth over the past three months

Berwick $ 815,000

Fitzroy $ 1.527 million

Hampton East $ 1,505,950

Lower Abundance $ 1.392 million

Montmorency $ 1.087 M

Research $ 1.65 million

Gully Upper Ferntree $ 840,000

Guarantee $ 1,480,500

Luxury buyers (homes, median over $ 1.75 million)

* Suburbs in high demand on realestate.com.au, with at least 5% median house price growth over the past three months

Alphington $ 1.831 million

Orchards of the park $ 1.93 million

Wonga Park $ 1.8 million

Originally posted under the title Where Melbourne Sellers Should Cash In This Year

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