Real estate agents believe Brimbank’s property market is on track for steady growth in 2015.
After a year in which Sunshine was the second-fastest-growing suburb for median house prices in Melbourne over the June 2014 quarter and Caroline Springs, located just outside Brimbank, sold its first million-dollar property, Barry Plant Taylors Lakes director James Hatzimoisis is tipping price growth to continue well into the new year.
Mr Hatzimoisis said larger blocks in Sunshine and St Albans would continue to attract investors and home buyers.
He believes Taylors Hill, Caroline Springs, Taylors Lakes and Keilor Downs properties will also perform well.
“The whole [Brimbank] area performed really well, particularly in the second half of 2014. Numbers across the board were up and auction clearance rates were excellent. We had some really good results.
“Unless something out of left field affects the economy or confidence, we feel it should continue on the way it’s been ticking along.”
Bells Real Estate Sydenham sales executive Anthony Christakakis predicts that Taylors Hill could see is first million-dollar sale this year.
“Caroline Springs has hit a couple of million-dollar deals, and I don’t think Taylors Hill is far off,” Mr Christakakis said.
“Sydenham and Hillside are pretty steady, and Delahey is getting good results.”
Real Estate Institute of Victoria chief executive Enzo Raimondo said while the Melbourne market may moderate over the coming year, there would still be room for residential price growth across the western suburbs.
“Vendors will need to work closely with their agent to consider the best approach to marketing and selling their home,” Mr Raimondo said.
“For buyers, there will be more opportunities and it’s worth noting there are still many affordable suburbs in Melbourne’s west and north with locations such as Deer Park, Wyndham Vale and Truganina still offering extremely well-priced family homes.
“These suburbs have not seen the same level of growth as many other areas in the middle west and north of the city.”
