Real Estate

black rockaes median house price hits 2 million

Written by The ReReport

Black Rock’s median house price has reached $2 million.

BLACK Rock’s picture-perfect lifestyle is delivering a windfall for homeowners, with the median house price hitting $2 million for the first time.
The exclusive southeastern suburb reached the benchmark from its house sales in the 12 months to July this year, CoreLogic data shows.
It became the only Bayside suburb other than Brighton above the eye-watering figure, as Hampton’s median fell to $1.99 million.

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Hocking Stuart Sandringham director Jenny Dwyer said Black Rock’s “village feel” offered lifestyle perks to homeowners.
“There are few new development around here, and most people have large blocks of land on quiet streets,” she said.
“There are lots of Baby Boomers who have held onto their properties for years and they keep gaining value.”

50 EbdenAve sold for $5.38 million in July.

The home is walking distance to Black Rock Village.

WBP Group’s Greville Pabst said a lack of medium and high-density living added an exclusive feel to the pocket.
“Developments can start to have impact on traffic, parking and amenities … so Black Rock is a little protected from that,” he said.
“There are fewer investors and developers, which is aesthetic for the suburb.”
Black Rock’s sought-after village and Half Moon Bay location has building height restrictions, meaning most new developments are luxury townhouses.

The large block sold for $6.6 million.

Mr Pabst said many high-end properties sold in the suburb in the past year, which could have impacted the median price.
A new price record was set for the suburb when 6 Bayview Cres sold for $6.6 million in August.
Other top sales in the past year have included 50 Ebden Ave, which sold for $5.38 million, and 212 Beach Rd, which changed hands for $3.1 million.
CoreLogic records show Black Rock’s median house price increased 12 per cent in the 12 months to July.


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