Balwyn North

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A three bedroom Balwyn North house has been sold for $2.668 million making it Melbourne’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-balwyn+north-125761814" target="_blank">1120 Burke Road</a>, the 993 sqm property had been marketed as a redevelopment opportunity.
It was last sold in 1980 for $65,000.
Built in the 1950s it is situated in the centre of everything from cafes, public transport and Stradbroke Park.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/23/1120%20Burke%20Road-2.jpg" alt="">
The property is surrounded by apartments and townhouses complexes.
The property was offered through Noel Jones agents David Fileccia and Greg Bowring.
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Three bedroom 1950s Balwyn North knockdown sold for $2.688 million

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A three bedroom house in Balwyn North, 10 km east of Melbourne's Central Business District, has been sold at auction for $2.3 million (pictured below).
It was sold by Meredith Plant and Mark Salvati from Jellis Craig.
<a href="https://www.realestate.com.au/sold/property-house-vic-balwyn+north-127580034">Located at 8 Corhampton Rd</a>, the Victorian home features three bedrooms, formal sitting and dining rooms, a central kitchen with breakfast area and an oversized family room.
It is conveniently close to Kew High School, Kew Golf Course, Macleay Park and Hays Paddock.
 
 
 
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Balwyn North three bedroom house sold at auction for $2.3 million

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A Balwyn North mortgagee home has been sold for $965,000.
The three bedroom, two bathroom townhouse last sold for $1.13 million in 2016.
Mark and Rob Fletcher of Fletchers Real Estate marketed the property.
Situated at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-balwyn+north-131970578" target="_blank">5 St Bridgets Rise</a>, the abode was sold at auction with a price guide of $960,000 - $1,050,000.
Set on 526 square metres, the two storey home features a double auto-garage.
Built in 1980, the home is located a short walk from multiple schools, cafes, public transport options and other amenities.
When the home last sold, it was also during an auction but it went under the hammer with a lower price guide of $900,000 - $990,000, despite the higher final sale price.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="https://www.urban.com.au/news/10417-balwyn-north-vic" target="_blank">Balwyn North</a> is $1,561,500 according to CoreLogic. 
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Balwyn North mortgagee home sold for $165,000 loss

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In a handful of blue-chip suburbs located in Melbourne’s east, property prices have corrected to mid-boom levels following the recent sharp correction, according to a recent Herron Todd White (HTW) residential report. 
The report notes that Balwyn North and Kew are two of the eight suburbs in Melbourne where the median house price is similar to that of the 2015 property market.
A 1960s home at 2<a href="https://www.realestate.com.au/sold/property-house-vic-kew-131537478" target="_blank"> Victor Avenue, Kew</a> has recently been sold for $1.6 million.
Surrounded by garden and alfresco decking, the single level home comprises four bedrooms living room with fireplace, updated kitchen and four car parking.
It's within close proximity to elite schools, trams, shopping precincts and parklands.
While the pressure of the property market has eased in recent months, the types of property available on the market such as detached dwellings and apartments etc largely remain the same despite lots of residential developments taking place in Box Hill and Ringwood at the moment.
"This is very different from large englobo estate developments that are happening in areas with an abundance of vacant land available such as Truganina, Melton and Werribee," the valuation firm said. 
"Of the properties in Melbourne’s eastern region, around 33% are owned outright or mortgaged, with 20% of housing comprised of townhouses or semi-detached homes and 33% of residential properties being high-rise apartments."
The eastern suburbs are proving to be popular with first home buyers due to the number of schools located in the region.
Catchment areas of elite government schools such as Camberwell High School are highly sought after.
The report suggests suburbs such as Ringwood and Mitcham in the outer east will most likely be more desirable as the median house price for those suburbs is $830,000 and $920,000 respectively.
These suburbs boast great access to coffee shops, restaurants, gyms and health clubs that is highly desirable and are also very close to transport and schools.
Some of the most popular and desirable areas include Kew, Hawthorn, Camberwell and Balwyn.
Travelling into the city by train from Hawthorn and Camberwell takes 15 and 25 minutes.
"This short trip is not only a selling point for those who commute to corporate jobs in the city but also allows their children access to quick transport to school via tram or train. This drives the price of homes in these areas upwards," the valuation comments. 
The Hawthorn median house price sits at $2,192,500 and Camberwell’s median house price is $1,955,000.
This market is geared towards established families or couples who are well resourced and are able to afford the choices of lifestyle that come with living in the eastern suburbs of Melbourne.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/11/kew%202.jpg" alt="">
A three bedroom townhouse at 2/51 Cobden Street, Kew (pictured above) has recently been sold for $1,275,000.
The home comprises three bedrooms, study or fourth bedroom, upstairs retreat or lounge, living and dining areas and courtyard garden. 
It is close to High Street shops and restaurants, trams, recreation centre, and schools. 
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Balwyn North and Kew prices correct to mid-boom levels: HTW residential 

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Balwyn North, renown in recent times for its French chateaux style home construction spree, has seen its median house price drop back to 2015 levels.
It now sits at $1.6 million, <a href="https://www.urban.com.au/news/10417-balwyn-north-vic" target="_blank">according to CoreLogic</a>, where it was in 2015.
The median house price has dropped drastically since peaking at $1.95 million mid-last year.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/23/Balwyn%20CL.jpg" alt="">
To see the latest Balwyn North house price data, <a href="https://www.urban.com.au/news/10417-balwyn-north-vic" target="_blank">click here</a>.
But Balwyn residential properties have more recently become known for its knockdown rebuilds, often copying the châteaux of France with their facades.
Balwyn North was one of the first Melbourne suburbs to be developed according to the pattern of postwar suburbia, with expansive, quiet residential areas designed as family homes and relatively few business districts.
Consistently among Melbourne's top 20 most exclusive postcodes, Balwyn North's status as an affluent suburb has seen middle to upper-middle-class families from surrounding localities transfer to the area to take advantage of the suburb's relatively large block sizes and proximity to some of Victoria's best private schools including those in the neighbouring suburbs.
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