We sat down with our directors to explore how the past year has unfolded and what lies ahead for the local property market.
How has Melbourne’s north eastern market performed in the last 12 months?
The market has moved at two speeds, with a strong first half across most price points giving way to a more challenging second half. The sub-$1.5m segment remains active, the $2–3m range is more subdued, and the top end is performing solidly across lower volumes. Well-presented, move-in ready homes continue to attract strong interest and competitive bidding.
The region represents good value compared to inner and eastern Melbourne. While interest rates and cost-of-living pressures may temper short-term confidence, buyers continue to be drawn to the lifestyle.
Which specific suburbs in the region look best placed for stability over the next 12 months?
The enduring appeal of Ivanhoe, Ivanhoe East and Eaglemont, underpinned by an abundance of parklands, strong infrastructure, quality schools and hospitals, continues to support long-term demand and stability. In Greensborough, Watsonia and Yallambie, the completion of the North East Link, combined with a compelling mix of transport, schools, shopping and parkland, offers strong fundamentals at more accessible price points.
How do you expect the region will respond to further potential cash rate adjustments?
The sub-$1.5m market should continue to perform well, supported by first-home buyers and young families, while the aspirational $2–3m bracket is likely to feel the most pressure. Above $3m, the market will slow, giving sellers time to hold rather than adjust on price.
Median property prices
Source: Cotality, 01/04/2025 - 31/03/2026 Where a suburb is split across a LGA, the whole suburb has been used to determine a median. Where there are insufficient sales within a suburb over a 12-month period, a median price has not been calculated.Banyule
-
Bellfield
-
Briar Hill
-
Eaglemont
-
Heidelberg
-
Heidelberg Heights
-
Heidelberg West
-
Ivanhoe
-
Ivanhoe East
-
Lower Plenty
-
Macleod
-
Montmorency
-
Rosanna
-
St Helena
-
Viewbank
-
Watsonia
-
Watsonia North
-
Yallambie
Median days on market
Source: Cotality, 01/04/2025 - 31/03/2026Banyule
Rental yield
Source: Cotality, 01/04/2025 - 31/03/2026Banyule
Current population
Source: ABS Census 2021 DataBanyule
- Houses
- Units
Median property prices
Source: Cotality, 01/04/2025 - 31/03/2026 Where a suburb is split across a LGA, the whole suburb has been used to determine a median. Where there are insufficient sales within a suburb over a 12-month period, a median price has not been calculated.Darebin
-
Alphington
-
Coburg
-
Fairfield
-
Kingsbury
-
Northcote
-
Preston
-
Reservoir
-
Thornbury
Median days on market
Source: Cotality, 01/04/2025 - 31/03/2026Darebin
Rental yield
Source: Cotality, 01/04/2025 - 31/03/2026Darebin
Current population
Source: ABS Census 2021 DataDarebin
- Houses
- Units
Median property prices
Source: Cotality, 01/04/2025 - 31/03/2026 Where a suburb is split across a LGA, the whole suburb has been used to determine a median. Where there are insufficient sales within a suburb over a 12-month period, a median price has not been calculated.Nillumbik
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Diamond Creek
-
Eltham
-
Eltham North
-
Greensborough
-
Hurstbridge
-
North Warrandyte
-
Plenty
-
Research
-
Wattle Glen
Median days on market
Source: Cotality, 01/04/2025 - 31/03/2026Nillumbik
Rental yield
Source: Cotality, 01/04/2025 - 31/03/2026Nillumbik
Current population
Source: ABS Census 2021 DataNillumbik
- Houses
- Units
Ivanhoe remains a tightly held suburb, with residents staying for an average of 16 years¹. What factors do you believe contribute to this long-term appeal?
Ivanhoe is blessed with large land holdings, parklands, transport, hospitals, great schools and lovely period houses. In relation to other blue-chip suburbs, Ivanhoe has strong value, and the secret is getting out.
Metropolitan Melbourne’s vacancy rate is sitting at 1.6%². Eltham is significantly tighter at 0.6%². What does this high rental demand mean for investors?
Strong rental income growth has been driven by supply constraints and consistent demand. At the same time, legislative changes, increased holding costs, and compliance requirements have seen some investors exit the market. This has placed further pressure on supply, reducing vacancy risk for well-located, well-maintained properties.
Ownership
Source: ABS Census 2021 DataBanyule
- Own
- 37%
- Purchasing
- 35%
- Rent
- 25%
- Other
- 3%
Darebin
- Own
- 30%
- Purchasing
- 30%
- Rent
- 38%
- Other
- 2%
Nillumbik
- Own
- 41%
- Purchasing
- 48%
- Rent
- 9%
- Other
- 2%
- Own
- Purchasing
- Rent
- Other
Dwelling type
Source: ABS Census 2021 DataBanyule
- House
- 76%
- Semi detached
- 16%
- Unit / apartment
- 8%
Darebin
- House
- 57%
- Semi detached
- 27%
- Unit / apartment
- 16%
Nillumbik
- House
- 94%
- Semi detached
- 3%
- Unit / apartment
- 3%
- House
- Semi detached
- Unit / apartment
What does FY27 and beyond look like for the north eastern property market?
The north east represents good value compared to inner and eastern Melbourne. While interest rates and cost-of-living pressures may temper short-term confidence, buyers continue to be drawn to the lifestyle, space and community the region offers, and the long-term outlook remains stable.
Fast Five with Kieran Whaley
Favourite street
Maltravers Road, Eaglemont, for its heritage homes and stunning city views.
Local secret
The city lookout on Wynstay Crescent, Ivanhoe.
Memorable sale
Auctions on Young Street, Ivanhoe have long been a highlight, thanks to its beautiful streetscape and the bowling club at its centre.
Design focus
Sympathetic period home renovations featuring leadlight and bay windows.
One to watch
Families upsizing to luxury houses at the upper end of the market.
