Outer suburb Melbourne McMansions have dominated Victoria’s buyer interest over the last three years according to realestate.com.au.
Data on the most popular streets in Melbourne has shown just how appealing large homes on the outskirts of the city have become, attracting plenty of attention from interested buyers.
The most popular street in Melbourne according to realestate.com.au, was Summit Drive, Mickleham – affectionately dubbed “Millionaire’s Row” for its collection of seven-figure homes.
Over the course of the pandemic, homes on Summit Drive, with a median price of $2,387,000, typically attracted 22,893 average views per listing as Melbournites looked at ways they could escape the world’s harshest lockdowns.
In second spot, was Killara Road, Gruyere – a winding road east of the city that gained 18,819 views per listing and with a current median price of $1,592,000.
Meanwhile, Old Diamond Creek Road, an eclectic 1km stretch of Diamond Creek, saw 18,782 average views per listing and currently has a $1,452,000 median home price.
Homes listed in Summit Drive, Killara Rd and Old Diamond Creek Rd in the three suburbs respectively pull in a bigger audience than a 15,000-person capacity crowd at Rod Laver Arena.
PropTrack economist Eleanor Creagh told realestate.com.au the top street was home to one of Australia’s biggest houses, a nine-bedroom stunner that hit the market at 10 Summit Drive briefly early in 2021 but never sold.
Ms Creagh said the list of most popular homes reflected “the Covid-induced push toward larger homes” and more laid back locations from buyers making the most of remote work opportunities.
Popular regional streets were likely to maintain interest above historic levels as “the gravitational pull of the CBD declines”, Ms Creagh said.
Other popular streets to make it into the top 10 included Romsey Rd, Romsey; Bowen St, Kew; Fontaine Tce, Narre Warren North; Bowen Cres, Princes Hill; Westminster Grove, Sunbury; Wellington Place, Caroline Springs; and McGregor Rd, Gisborne.
Real Estate Buyers Agents Association of Australia president Cate Bakos said during the depths of lockdowns she regularly had people ask her to get a lifestyle address like those in the most popular streets “whatever it took”.
But with Melbourne returning to normal, Ms Bakos said the lustre was already wearing off for some.
“We are seeing a few early signs of a few decisions being reversed,” Ms Bakos told realestate.com.au.
“There will always be people who want a big McMansion, but most will go back to wanting homes that support the things we wanted before Covid.”
Victoria’s most popular streets
- Summit Dr, Mickleham: 22,893 (average views per listing) – $2,387,000 (median estimated home value);
- Killara Rd, Gruyere: 18,819 (average views per listing) – $1,592,000 (median estimated home value);
- Old Diamond Creek Rd, Diamond Creek: 18,782 (average views per listing) – $1,452,000 (median estimated home value)
- Romsey Rd, Romsey: 17,132 (average views per listing) – $1,428,000 (median estimated home value)
- Bowen St, Kew: 16,185 (average views per listing) – $2,127,000 (median estimated home value)
- Fontaine Tce, Narre Warren North: 15,554 (average views per listing) – $1,809,000 (median estimated home value)
- Bowen Cres, Princes Hill: 15,053 (average views per listing) – $2,489,000 (median estimated home value)
- Westminster Grove, Sunbury: 14,954 (average views per listing) – $915,000 (median estimated home value)
- Wellington Place, Caroline Springs: 14,760 (average views per listing) – $1,147,000 (median estimated home value)
- McGregor Rd, Gisborne: 14,738 (average views per listing) – $1,758,000 (median estimated home value)
Source: PropTrack
