Houses in Huntingdale are Melbourne’s most tightly held.
HUNTINGDALE has some of Melbourne’s happiest homeowners, with data revealing it’s Melbourne’s most tightly held suburb.
It’s one of the suburbs out east which had the five longest average holding periods across the city, CoreLogic data analysed by Riskwise Property Research shows.
Houses in Huntingdale are owned an average of 23.9 years before re-entering the market — which is longer than any other suburb in Melbourne.
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Huntingdale has only had 15 house sales in the year to July, CoreLogic data shows.
It’s closely followed by Belgrave Heights at 20.3 years and Wantirna at 19.3 years.
Clayton South and Springvale South round out the top five suburbs in Melbourne with 19.1 and 18.6 years each.
Ray White Oakleigh’s Gareth Apswoude said houses in the east were once as “cheap as chips”.
“A lot of ex-servicemen moved to Huntingdale in the 1950s, and still live there now at 80 or 90 years old,” he said.
“Nobody would have ever believed the median sale price is now just over $1 million.”
The home is close to parklands at Birdland Reserve.
Mr Apswoude said Huntingdale had some of the lowest turnover rates in the City of Monash.
The small suburb has had only 15 reported house sales in the 12 months to July, CoreLogic data shows.
Barry Plant Wantirna director Brendan Murphy said property prices in Wantirna had also skyrocketed over the past two decades.
“Young couples move into the area because of the education opportunities available for their kids,” he said.
“They stay for more than 20 years to get them through school, and then move out of the area as empty nesters.”
Wantirna attracts young couples looking to be in school zones.
The family-friendly suburb has seen prices increase by 40 per cent in the past three years, CoreLogic data shows.
Mr Murphy said while Wantirna had seen an increase in the number of house sales in recent years, the market was tightening up.
“I think Wantirna’s holding periods could even extend to take number one position in Melbourne soon,” he said.
Wantirna has the third longest holding period in Melbourne.
Riskwise’s analysis shows Fyansford — a suburb of Geelong — has Victoria’s longest hold period at 27.7 years.
HIGHEST AVERAGE HOLD PERIODS IN MELBOURNE
1. HUNTINGALE — 23.9 YEARS
2. BELGRAVE HEIGHTS — 20.3 YEARS
3. WANTIRNA — 19.3 YEARS
4. CLAYTON SOUTH — 19.1 YEARS
5. SPRINGVALE SOUTH — 18.6 YEARS
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