East Melbourne prestige market seeing upward trend: HTW

Staff reporterNovember 29, 20200 min read

Prices remain resilient and on an upward trend in Melbourne’s eastern suburbs, valuation firm Herron Todd White found.

They found, despite the unprecedented year, there have been some notable prestige sales in the inner east of the city.

A home at 13 Wimba Avenue in Kew sold for an $7.9 million in March 2020, just before COVID took over the housing market.

The home has six bedrooms and six bathrooms across three lift-accessible levels on 918 square metres of land.

The property, with northern sunlight and range views, has a Hampton’s inspired summer room that opens to a large pool and alfresco area. There's a basement-level theatre, billiards room, gym and cellar, along with a six-car garage.

The substantial property sales aren’t only limited to houses on large sites in some of Melbourne’s most affluent neighbourhoods.

Luxury units, townhouses and apartments built with well-appointed finishes, highly desirable features and clever design also fetch prices much higher than the median prices seen in the eastern corridor.

A city-facing, ground level unit at G02/8 Main Drive, Kew sold off-the-plan in August 2020 for $2.15 million.

The residence will comprise three bedrooms and two bathrooms and feature natural stone and timber surfaces throughout its kitchen, bathroom and ensuite as well as an abundance of brushed chrome finishes.

It also features a study nook, outdoor entertainment area and space to park two cars.

The property is one of 17 residences in the Oakwood development in Kew, located on a tree-lined boulevard, approximately 15 minutes drive from the CBD.


Staff reporter

East Melbourne
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