Property sales soar in Caulfield North

August 16, 2017 by  

Caulfield North has become one of Melbourne’s top property spending locations following sales in excess of $380m during the past 12 months.

According to new Corelogic data, the sale of homes in the Glen Eira/Caulfield area in the past year reached $1.77bn.

The suburb with the top total sales value of $387m was Caulfield North.

Local property professional Marshall Rushford said the past year had seen a good performance, effusing:

“There have been some amazing results.

“We are finding anything with a land component to it is selling really well.”

Rushford said strong competition existed for homes in Caulfield North where property is tightly held, adding that real estate brochures often included lists of facilities and infrastructure that are considered key drivers of home sales in the region. He said:

“People see it as a very safe place to extend themselves and to buy into, because it has everything they need,.”

Top-end properties in the suburb have experienced strong price growth, according to Josh Hommelholff, of Ray White Carnegie, who said that many family home prices have gone up by $500-600K in a short time.

Caulfield South property sales for the year ending April 2017 topped $279m, according to CoreLogic figures.

In addition, Murrumbeena saw more than $166m in sales and Elsternwick in excess of $240m, the figures stated.