Forest Hill Has It All

Carmelito Deleon
July 19, 2018

PROPERTY CONSULTANT

It’s a golden age for property in Melbourne’s East.

Take Forest Hill for example – another suburb surprising observers with median house prices above $1m and no sign of slowing down.

Key stats

Average house prices in Forest Hill have doubled in under 10 years, topping $1 million mid last year, and now sitting at $1,057,750. With growth of 110% since 2009, it’s no wonder we’re seeing so many happy clients make large returns on their family home. In recent weeks, we’ve also seen the average unit price streak past $700k to $730,000.

It’s great to see so many happy customers fetching more than they ever dreamed possible in Forest Hill. Plus, we love helping new residents find their perfect home in a suburb going from strength to strength.

So what is it about Forest Hill?

I’m sure you can imagine the Forest Hill of old – street after street of 3 bedroom homes, either brick or weatherboard with great big backyards. Mid last century, they would have been the sparkling best of 1950s suburban living in Melbourne.

Nowadays, many of these homes still exist and have been renovated to make them large and sophisticated modern homes that suit families of any size.

This amazing weatherboard offered the lucky buyers the charm of a traditional home, with a beautiful front yard, verandah and oak floorboards. Combined with a light-filled open plan extension, stone benchtops and an alfresco dining area, it’s no wonder it sold for $1,310,000.

These gems are still available in Forest Hill, and they’re one of the reasons we’re seeing so much interest from families looking to set themselves up in a great house close to everything they need.

Development is the future

More and more, however, we’re seeing single dwelling blocks being overhauled and replaced with units or townhouses. This is obviously driven by developers, but it is opening up suburbs like Forest Hill to more people on a wider range of budgets.

The large lots in Forest Hill mean that even on a site with multiple dwellings, you still get plenty of space. One example is this townhouse that offered lots of light, a generous floor plan, three bedrooms upstairs and a double garage.

There’s something for everyone

With such diversity in property offerings, there’s something for everyone in Forest Hill:

  • The renovator’s dream: a brick home with old-school charm, beautiful details, so much space and incredible potential.
  • The perfect family home: with an impeccable renovation and extension offering 5 bedrooms, spacious kitchen, spa bath and outdoor dining.
  • The knock-down-and-build: 585m2 of land ripe for redevelopment, with a northerly rear aspect, good proportions for multiple dwellings and easy demolition.

The local attractions

So what’s bringing people to the area besides just the property?

There’s great shopping at one of Melbourne’s oldest shopping centres, Forest Hill Chase. It’s a great spot for families, with a cinema and bowling alley on top of the shopping outlets you’d expect.

Forest Hill Reserve is one of 12 parks that help the area live up to its botanical name. The leafy streets and well-established parks play a big part in creating great first impressions when people are house hunting.

Nunawading station is just up the road, and Springvale Rd runs right through the suburb, connecting you to freeways and trams.

It’s a suburb that has seen so much growth, but still has its best days ahead of it as ongoing investment turns it into a popular Melbourne location.

Talk to us today to find out how we can help you reap the rewards Forest Hill has to offer.

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