The rise of the west’s property market isn’t showing signs of slowing down.
In its May Top Performing Suburbs report, property analyst Corelogic named Ardeer as the country’s top suburb for median value growth in the past 12 months.
The median house price for Ardeer rose 35.5 per cent to $632,685, putting it at the top of the list ahead of Coolaroo, which rose 34.7 per cent.
The figures were taken from suburbs which had a minimum of 50 sales within 12 months.
G.L. Lee real estate agent Richard Popczk said he’s not surprised to see Ardeer performing well.
“I’ve lived in the west since 1953 and actually have a daughter living in Ardeer,” he said.
“I was telling people about 10 years ago to buy in the suburb and they told me I was an idiot, but I always knew it would grow.”
Mr Popczk said there were a number of factors behind the popularity of Ardeer.
“The attraction is definitely there – we’ve noticed that most people who buy there, purchase the property to live in,” he said.
“But there’s also investors and it’s terrific for developers given that every block is value for money.”
While Ardeer land size provided significant value for money, Mr Popczk said the growing infrastructure of the west and its positioning to the CBD also play a role.
“Ardeer is only five minutes away from Sunshine and is close to the CBD to, so in terms of location it’s quite desirable. You’ve also got easy access to public transport and are close to arterials like the Ring Road.
“All this has always been here, but people are starting to realise the benefits of it.”
Melbourne’s western and northern suburbs featured prominently in the national top 10.
Melton South came in third with a 31.1 per cent rise, Broadmeadows fourth with a 32.7 per cent rise and Melton was ninth with a 28.6 per cent spike.
