Househunters have found Middle Park a popular choice, with the blue-chip ‘burb in Australia’s top 10 most search suburbs on realestate.com.au.
MIDDLE Park has again been crowned one of Australia’s most sought-after suburbs in the latest Property Outlook report from realestate.com.au.
The report lists the country’s most in-demand suburbs based on the number of property views against the average number of property listings on the website.
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Middle Park’s almost $11.81 million residential price record is currently being challenged by 223 Beaconsfield Pde.
The five-bedroom luxury home comes with $13.7-$15 million price hopes.
Middle Park’s hefty median house price of $2.65 million hasn’t seemed to deter househunters, with the blue-chip ‘burb ranking eighth in the nation, dropping one spot from where it sat in the same report six months ago.
South Hobart raked in the highest number of views in Australia, while Red Hill took the top spot for Victoria and fourth nationally.
Park Orchards also proved to be popular, sitting at number seven nationally, one above Middle Park.
Buyers are on the lookout for Middle Park pads like 26 McGregor St,which is on the market with $3.4-$3.6 million price hopes.
Hocking Stuart director David Wood said it was one of Melbourne’s most expensive dollar per square metre suburbs as so many buyers aspired to live in the “exclusive bayside enclave”.
“It’s a real honour considering it’s such a small suburb,” Mr Wood said.
“It’s a sanctuary of living and only a few minutes away from everything.”
My Wood said the popularity of Middle Park was underpinned by the area’s heritage protection.
“People have confidence to invest in Middle Park as they know the integrity of the streetscape isn’t going to be eroded,” he said.
The beachfront terrace was once owned by the pioneer of IVF, Professor Carl Wood.
Realestate.com.au chief economist Nerida Conisbee said the outlook report consisted of Victorian suburbs where homes were tightly held.
“They are not areas where you often see property coming to market,” Ms Conisbee said.
Middle Park’s proximity to the beach and city were big drawcards, as well as the lack of development in the area, according to Ms Conisbee.
“Melbourne has had a lot of development recently and it’s an area that hasn’t seen it,” she said.
“Middle Park, Albert Park and St Kilda West come up a lot on our site.”
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