Doncaster houses top list of 2017 Melbourne property hotspots
Doncaster takes the top spot as Melbourne's 2016/2017 hotspot for investing in houses with an expected increase of seven percent over the next 12 months.
The median price at Doncaster is currently $1,250,000 according to APM, in their forecast developed by APM senior economist, Dr Andrew Wilson.
An example would be a four bedroom home currently on sale for $1,200,000 at 7 Grange Park Avenue, (below) which is $50,000 below the median price.
Similarly a four bedroom at 9 Lauer Street (below) sold for $1,416,000 earlier this month, some $150,000 above the median price for the suburb.
The Smart Investor magazine, published by Fairfax Media, ranked Mount Waverley as second best hotspot.
Suburb Postcode Median price 12 month forecast
Doncaster 3108 $1,250,000 7%
Mount Waverley 3149 $1,225,000 6%
Glen Waverly 3150 $1,220,000 5%
Hawthorn 3122 $1,850,000 5%
Ashwood 3147 $1,164,444 5%
Ashburton 3147 $1,500,000 5%
Parkville 3052 $1,280,000 4%
South Yarra 3141 $1,470,000 4%
Prahran 3181 $1,306,500 4%
South Melbourne 3205 $1,230,000 3%