Banyule Property Market Update
With the end of year in sight, the Banyule property market remains steady despite Melbourne’s overall median house price remaining flat over the past six months. Banyule has sustained strong listing volumes with this shift bringing more balanced market conditions, benefiting both buyers and sellers alike.
Banyule continues to see a healthy flow of residential listings. Buyers are capitalising on steady prices and the availability of quality stock, creating a good environment for property hunters and sellers looking to make their move before the year’s end. September clearance rates throughout Banyule have consistently been around the 73%* mark (Q3 REIV), showing strong demand in the local market. At Mile’s we've seen firsthand the high levels of buyer interest, and that confidence remains consistent in Banyule’s property market.
Positive Banyule REIV Data
According to recent data from the Real Estate Institute of Victoria (REIV), Banyule continues to perform better compared to other Melbourne areas, particularly in the unit and apartment market. Whilst Melbourne’s median house price remains flat at $916,000, Banyule's median price has risen to $1,110,000. Steady demand has helped maintain solid prices while offering better affordability relative to more central areas of the city.
Here are a few standout Sales:
- 53 Duff Parade, Viewbank – 697 sqm Sold $1,605,000 A stylish four bedroom and study residence near Price Park in the Viewbank College zone. Sold above reserve with four bidders competing.
- 27 Dunvegan Crescent, Macleod – 604sqm Sold: $1,218,000 A secure and renovated three-bedroom home. Sold above reserve with three bidders.
- 17 Riverside Road, Ivanhoe Sold – Price undisclosed With Yarra River frontage and views this five-bedroom family sanctuary on a massive 2639 m2 allotment sold on an EOI campaign in 23 days with two exceptional offers being put forward. Sold in a boardroom auction environment with two parties competing strongly for the property.
On the market
- 5 Glen Drive, Eaglemont – Architecturally designed with outstanding views on Mount Eagle this luxury three bedroom home in on the market with a price guide of $2.75-3.3M.
- 59 Studley Road, Ivanhoe – The ‘South-East’ iconic estate is listed by Miles with a price guide of $5-5.5M.
Miles has a range of great listings to suit every need. If you would like an up-to-date appraisal to find out where your home sits in the current market, please contact us
Get in touch or visit our website to see we have to offer this spring!
