Market Watch: The leafy outer Melbourne suburb luring city slickers to the hills

An outer-suburban pocket boasting affordable homes, a tight-knit community and a relaxed vibe is luring city slickers in droves.

Sitting just 31km southeast of Melbourne’s CBD, Endeavour Hills is a suburb on the rise among a range of buyer groups, from first-timers to young families.

Mo Zeitouneh from Ray White Dandenong was born and raised in Endeavour Hills and knows the suburb “like the back of my hand”.

“I’ve lived here my whole life and went to both primary and secondary school locally, so I know most locals and have a really positive connection to the community,” Mr Zeitouneh said.

“I absolutely love transacting property where I live. I’ve been able to witness the suburb grow and prosper.”

And its booming popularity is hardly surprising.

Endeavour Hills is a picturesque semi-rural suburb within commuting distance of Melbourne’s CBD. Picture: Getty

The family-friendly area offers a high level of convenience, a great sense of community, and an abundance of facilities.

“It’s only [40 minutes] from Melbourne’s CBD, about 5km from Dandenong’s CBD, and has easy access to the major freeways and highways,” Mr Zeitouneh said.

Families flock to the area because of its plethora of choice when it comes to schooling, with seven primary schools, two high schools, and a special needs school.

“That’s not to mention the many local reserves, walking tracks, sporting facilities, parklands, lakes, and playgrounds,” he said.

Mo has lived in the area his whole life and watched it change dramatically. Picture: Supplied

Endeavour Hills also boasts a popular leisure centre and a local library. In addition, the shopping centre is home to 86 retailers.

It has long been in favour with families, but that appeal has exploded in recent years as buyers look for more affordable housing.

Being able to enjoy an area with a small town feel that’s a commutable distance from the city is also appealing.

As a result, the market has performed strongly over recent years, Mr Zeitouneh said.

“Three years ago, you could buy a typical house for about $530,000,” he said.

The current median house price of $815,000 has surged by 13.9% in the past 12 months, PropTrack data shows. The median unit price jumped 6.9% to $631,000 in the same time.

“It’s a substantial amount of growth, driven by an influx of buyers seeking affordability and value for their money, as the suburb has so much to offer – convenience and a great family lifestyle,” Mr Zeitouneh said.

Endeavour Hills enjoys a range of local amenities and services, including a bustling shopping centre. Picture: Supplied

A recent influx of young families is having a positive impact on the suburb’s dynamic and opening up lots of opportunities for downsizers to sell up.

“Current trends are for young couples, first-home buyers, and established homeowners looking for more space to grow,” Mr Zeitouneh said.

The dominant housing type is modern, low-density standalone dwellings comprising single and double-storey homes, with some larger three-level properties, he explained.

The suburb features some spectacular family homes, like this one that Mo recently sold. Picture: realestate.com.au/sold

Townhouses and units have emerged in the past 10 to 15 years, adding to the stock of more affordable properties for young buyers and downsizers, he said.

Modern townhouses and units, like this one just sold by Mo, are becoming more common. Picture: realestate.com.au/sold

“The most dominant trends seen are homes that offer sustainability, and those that are fully renovated, which appeal to buyers looking to be in a highly sought-after location while indulging in modern aspects of daily living.

“Homes that are in original condition tend to appeal to savvy buyers who are looking for a blank canvas to renovate and create the dream home.”

While many parts of the Melbourne market are cooling, demand remains elevated in Endeavour Hills.

Homes that have unique characteristics or have been renovated are proving particularly popular.

“I don’t see interest rate rises affecting the suburb on a large scale as the majority of the buyers we’re seeing have their finances already sorted or have sold and are looking to buy with urgency.”

The affordability, lifestyle and location of Endeavour Hills means it has good future prospects, Mo says. Picture: Supplied

Whatever market shifts are in store, the young gun agent looks forward to helping buyers and sellers navigate them.

“I love what I do, and every day is a new challenge for me,” Mr Zeitouneh said.

“I love meeting new people, growing my network, and making people’s property dreams come true. There is no better feeling than helping someone achieve the desired goal. I definitely believe I have found my purpose.”

source: rea.com.au