VIC Melbourne price correction - post examples

Any thoughts on Watsonia? Seems to be some decent stock in the mid $600-700k's, even stand along houses within walking distance to the station. 4 Lynette Court, Watsonia, Vic 3087. 62 Orana Drive, Watsonia, Vic 3087.

 

Sold 569 Boronia Road, Wantirna VIC 3152 on 30 May 2019 - 2014825302 | Domain
820K just now (seems a good buy)
2 years before at peak as I did attend the auction and it was hot
509 Boronia Road, Wantirna, vic - Property Sold Price
1.214M

Over 30% decrease, same side of the road with same Growth zoning, sign of the times with lack of demand of the end product here

 

I don't know the area that well, but it seems to be very close to a main road. Would be interested in knowing how Beaumaris is going.

 

39 St Elmo Road, Ivanhoe
Sold 39 St Elmo Road, Ivanhoe VIC 3079 on 21 Nov 2018 - 2014711964 | Domain

Sent via the Domain App
Wow.. Someone got a bargain, althoug back in Nov last year

 

I live and am active in the market in this area. Viewbank is too far from the world imo. Rosanna and Heidelberg is better. I live near burgundy street now.

As for stock. This area has a seller strike currently. No good stock, which means good family homes moving quickly. Crap still lingers.

Other poster was right about changing demographics.

 

Definitely noticing this. Nothing decent coming on in that area between Rosanna Road and Waiora Road.

 

Watsonia, although on a train line is cheaper than suburbs further out on the hurstbridge line, it's not as "pretty, has a lower socio-economic population and the government schools don't perform well academically. During the peak of the boom some blocks in Watsonia sold for crazy prices, there would be lots of regrettable buys in that suburb

 

Near burgundy St is a great, also very close to eaglemont with its crazy prices

 

Heidelberg is quite expensive compared to the others. Agree that Viewbank is quite far from a modern world (can be an appeal to some buyers). I am looking into Rosana, the area within Viewbank College zone, walking distance to the train station but have not found good stock yet. Do you think the tunnel route for the North East Link can affect the area since the proposes route is right underneath?

 

That's some good buying right there

 

Use to live on that street, thought that was Heidelberg - or is that closer to a Banksia street

 

It is but it's also close to the Ivanhoe station and shops, incredible it only sold for 1.4m

 

46 Grove Road, Rosanna VIC 3084
Something like this. This was on the market for quite a while.

 

59 Millewa Avenue Malvern East: 59 Millewa Avenue, Malvern East, Vic 3145

Sold in April 2017 for $1,720,000

Plus stamps of ~$95,000

Same property up for auction later this month, quoting $1,650,000-$1,750,000

59 Millewa Avenue, Malvern East, Vic 3145

 

I don't recall a single new property coming on between Surry hills and Mitcham this week (within my price and house filters).

For all of the anticipation about a pick up in sales everything looks flat to me.

 

Long weekend

 

So because a long weekend is coming new properties are not listed in the preceding 7 days? I am not talking about auctions I just mean being uploaded to domain or realestate.com.au

If true I look forward to seeing a higher than average number of new properties next week.

I've been staring at the same properties for months and it seems no one wants to pay what the vendors want.

I think that we would need a big shift of new product on the market to see a big upswing in activity.

 

First weekend of a campaign is critical, also. June through to august has always been the quietest months for real estate. Couple that with the fact that the markets in a downturn, I wouldn't be expecting a lot of listings

 

Yup. Not going to be much action until spring.

 

Passed in on Saturday max bid $1,630,000