Doncaster East

[NPB]

Not news to anyone following the area but just an example today of how crazy the market is.

We did a Vendor Advocacy job for a property off our rent roll. It was valued in 2013 by the bank during the transfer for $660k, sold today at auction for $1,160,000 !!!!

A truly life changing result for the vendor.

Selling agent did a good job but with the demand around it would be just about impossible not to get a good result.

 

[Genia]

I have seen statistics somewhere, that in last few years a median house price in Doncaster was growing by $100,000 per year.

Also there was an article in Manningham leader about a house in 16 Burilla ave, Doncaster:


Another Real Estate success story according to Manningham Leader of 23rd March 2015, page 5.

The house was sold for:
$788K in May 2014,
then resold for $1.1M in March 2015
The price difference is $312K in just 10 months

 

[abbyfresh]

Land with multi-unit development potential in Doncaster East (750sqm+ blocks) has grown 4-5 times over the last 10 years. Significant growth, and I don't think the same is to be expected in next 10 years?

You'll find plenty of the these cases if you dig up the data.

http://www.realestate.com.au/property-house-vic-doncaster+east-114875771

http://www.parkesproperty.com.au/41-talford-st-doncaster-east-237257/ - this one sold for around 1.45mil this month.
That averages 20% growth p.a in 2 years.

It not easy street for the develops paying for land at this price.

The ripple effect is now flowing onto Mitcham and Ringwood.

 

[jpcashflow]

Hi All,

The Melbourne market is hot!! - I went to a auction in Deer Park - The listed price was 350K to 380K and it sold at auction at 400K +.

The Melbourne market is crazy!!

 

[S.T]

Hi All,

The Melbourne market is hot!! - I went to a auction in Deer Park - The listed price was 350K to 380K and it sold at auction at 400K +.

The Melbourne market is crazy!!

Err, whats that got to do with Doncaster? Not even the same ball park...

 

[Genia]

This one is the craziest of all in Doncaster East

http://www.realestate.com.au/property-house-vic-doncaster+east-119282075

 

[Kaz111]

Doncaster is my stamping ground. Some of the sales have been unbelievable. Great for me. I am in my forever house and my equity increases every month. I have been able to tap into the equity to complete a development. So much easier than applying for a construction loan.

Some one shaved a piece off their back yard....325m2
http://www.realestate.com.au/property-residential+land-vic-doncaster+east-201112123

and hey presto. Who needs a back yard anyway when you can look at a might brick wall but be $300,000 better off?

 

[NPB]

Doncaster is my stamping ground. Some of the sales have been unbelievable. Great for me. I am in my forever house and my equity increases every month. I have been able to tap into the equity to complete a development. So much easier than applying for a construction loan.

Some one shaved a piece off their back yard....325m2
http://www.realestate.com.au/property-residential+land-vic-doncaster+east-201112123

and hey presto. Who needs a back yard anyway when you can look at a might brick wall but be $300,000 better off?

nice for you and you are making money from it elsewhere while your home increases in value, well done

 

[willister]

Perhaps it's the Chinese overflow effect from Box Hill, Balwyn.

East Donny high will start to excel in VCE and you will watch the million dollar plus property prices spruik up. It will just be a repeat of Glen Waverley without the train station.

Imho, if I had that wad of $$ to spend (say in vicinity of $1.1mil) I'd buy Ashburton instead!

 

[Sailesh Channan]

Wow, I should have kept my property on Maldon Cres in East Doncaster. I only paid around $280k in 1998.

 

[Truly Exotic]

very close to the area and basically a local

yes this area has been booming, it wont stop fro a bit longer, usually chinese money keeps on going for a bit longer then non tradtional money

there is a site thats come up, cant remember the address, its 2500 sqm, 3 houses next to each other, and they want $7.7 million for it!!

I almost fell off my chair, however it would not surprise me an iota if someone bought it

the Tai Pan restaurant site apparently sold for $12m! recently, and I heard in the wind they applied for a 10 story building permit, when the current max is 2 or 3, and got rejected instantly,
not sure if it was false hope or they bought the site based on those figures,

regardless, at 10k per sqm, its insane dollars, lets just hope its a person whose got more sense then dollars!

 

[Property Hoarde]

This one is the craziest of all in Doncaster East

http://www.realestate.com.au/property-house-vic-doncaster+east-119282075

I agree that is crazy. I know it is a big block and the Tunstall Square area is ripe for development but still...

 

[NPB]

Wow, I should have kept my property on Maldon Cres in East Doncaster. I only paid around $280k in 1998.

yes you should!!

There were 8 bidders sat and 7 were chinese,

 

[jpcashflow]

Err, whats that got to do with Doncaster? Not even the same ball park...

Whats that got to do? Only last year properties where selling in the 280K mark...

The melbourne market is simply hot!!!

A house in Caroline springs sold for 1.6 Million!!!

 

[JohnnyT]

Glad i bought in Temestowe in 2008. This one has to be the craziest http://www.realestate.com.au/property-house-vic-doncaster-119630451

 

[willister]

Glad i bought in Temestowe in 2008. This one has to be the craziest http://www.realestate.com.au/property-house-vic-doncaster-119630451

Not as crazy as:

http://news.domain.com.au/domain/re...ds-to-bridesmaid-suburbs-20150523-gh82r6.html

Harcourts Judd White, Glen Waverley, director Dexter Prack​ said it sold for $2.57 million, which worked out to be about $3700 a square metre. The previous record was about $3200 a square metre.

That East Donny only works out to be ~2,500 psm, which by bloated GW standards is "common".

 

[JohnnyT]

Not as crazy as:

http://news.domain.com.au/domain/re...ds-to-bridesmaid-suburbs-20150523-gh82r6.html

Harcourts Judd White, Glen Waverley, director Dexter Prack​ said it sold for $2.57 million, which worked out to be about $3700 a square metre. The previous record was about $3200 a square metre.

That East Donny only works out to be ~2,500 psm, which by bloated GW standards is "common".

Yes I read up on that Glen Waverley one, I was referring to the craziest one in Manningham area.

 

[S.T]

Whats that got to do? Only last year properties where selling in the 280K mark...

The melbourne market is simply hot!!!

A house in Caroline springs sold for 1.6 Million!!!

Thread is titled Doncaster East not Deer Park or Caroline Springs. I suggest you add your amazing example to a thread on those areas so you'll get people to comment.

 

[Property Hoarde]

Glad i bought in Temestowe in 2008. This one has to be the craziest http://www.realestate.com.au/property-house-vic-doncaster-119630451

the one Genia put up is still crazier. This one is at least in the Doncaster Hill area.

 

[JohnnyT]

the one Genia put up is still crazier. This one is at least in the Doncaster Hill area.

True. The one Genia posted is in the East Donny Secondary zone too. I went to that school and even from back then, mid to late nineties there were a lot of asian students, I can only imagine now. They will keep driving the market, as with Balwyn, Glen Waverley...