Melbourne's Windsor, Australia's fastest growing median house growth suburb in 2016

Melbourne's Windsor, Australia's fastest growing median house growth suburb in 2016
Melbourne's Windsor, Australia's fastest growing median house growth suburb in 2016

Melbourne's Windsor has been ranked as Australia's fastest growing median house growth suburb in 2016.

CoreLogic advised the median had jumped 47 percent annually.

It arose from 66 sales.

Windsor's median now sits at $1,284,000. An Edwardian semi (above) that fetched $1.25 million in August closely reflected the median.

It had sold at $835,000 three years earlier, so reflected a more subdued 14 percent annual growth since 2013.

The 1910 semi had 90 sq m internal space on its 159 sqm block.

Another semi at the end of the row (below) had sold a few months earlier at $1.23 million, having previously traded in 2004 at $480,000, reflecting eight percent annualised price growth.

Melbourne's Windsor, Australia's fastest growing median house growth suburb in 2016

The house sales at Windsor during 2016 have ranged from $807,000 to $4.85 million.

The $807,000 sale was a two bedroom contemporary townhouse at 1 Newry Lane which sold through Jellis Craig in February.

The highest sale was when an 1860's solid brick hotel, converted into a family home, fetched $4.85 million at auction, almost $600,000 over reserve.

Bidding opened at $3.6 million with six bidders.

Previously the Red Lion Hotel, (above) 39 Duke Street has tall ceilings and rich period features in its warehouse style contemporary living space.

Melbourne's Windsor, Australia's fastest growing median house growth suburb in 2016

The property has five bedrooms, three bathrooms and a leafy atrium with indoor garden.

The most spectacular feature of the property is the 250 sqm secluded rooftop garden which has a large gas heated pool, sauna and orchard with views of the city skyline.

Having began life as the Red Lion Hotel during the 1860s gold rush, the pub closed in the 1920's and was used as a shirt-making factory and an ironmonger's workshop before being converted into the stylish warehouse-style home by Angela Sach.

The property has been in the same family for around 60 years.

RT Edgar's expectation was for the property to fetch $3.5 million at its March 19 auction.

It subsequently emerged that the buyers were comedian Gina Riley and her husband, TV producer Rick McKenna.

Riley broke onto TV screen as a performer in the sketch shows Fast Forward, sending-up singers including Paula Abdul, Bette Midler, Sinèad O'Connor and Dannii Minogue.

One of the reasons why the Windsor median jumped so much statistically was that the $4.85 million was $1.35 million above the next dearest which was $3.5 million for an 1880s freestanding house sold off-market at 51 The Avenue.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Windsor Corelogic

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