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News Melbourne train stations: How house prices track along the lines - Barry Plant Manningham

Melbourne train stations: How house prices track along the lines - Barry Plant Manningham

Real estate & property news
20 November 2017
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Hop on a train to the end of the line and you’ll find cheaper properties, right? Well, not necessarily, according to recent Domain Group house price data, crunched to look at median house prices across Melbourne’s suburban train network. The data showed the train line with the highest average median house price was Glen Waverley at $2,046,666, followed by the Sandringham line at $1,698,300.

At the other end of the scale, the Regional Rail Link (counted as far as Wyndham Vale) had the lowest average median, coming in at $599,875. The Melton line also proved less expensive, with an average median of $662,626.

Though in most cases a longer commute will get you more bang for your buck, certain outlying stations and suburbs had higher medians.

On the Hurstbridge line, house prices tracked steadily down until Greensborough, which had a median of $756,000. They headed back up at Montmorency and Eltham, with medians of $850,000 and $876,250 respectively, Eltham and Montmorency have a higher number of larger properties, as well as a leafy outlook, which pushes the median up.

To the west, the coastal terminus of Williamstown had a median of $1,385,000, well above suburbs on the same line closer to the city. Lifestyle and the fact that there are three train stations in the suburb, are big selling points. Houses in Collingwood are generally smaller and therefore less expensive than others on the Hurstbridge line.

Though neighbouring Newport and Yarraville were nipping at the heels of Williamstown, with medians near the $1 million mark, they were still more affordable – despite being closer to the city.

Sitting above City Link means prices in Pascoe Vale are lower than nearby Strathmore.

Domain Group chief data scientist Nicola Powell said though there was not a direct correlation between train lines and house prices, it was interesting to look at how prices could fluctuate between stations.

She said cases of stations further from the city attracting higher prices showed that it was not just distance from the CBD that determined property prices.

“It highlights the fact that there’s other factors that influence our lifestyle; being close to shops, being close to parks, all of these things factor into house-price growth,” Dr Powell said.

The data also revealed the inner-city suburbs of Collingwood and Richmond had lower medians than the next stops along the line.

Just three stops from the city in Collingwood, the median house price was $1,125,000, significantly lower than suburbs six stations further along the line, including Fairfield at $1.39 million and Eaglemont at $1.93 million.

Other stops with prices jumps of over $350,000 include Altona and Laverton on the Werribee line, East Malvern and Mount Waverley on the Glen Waverley line and Blackburn and Nunawading on the Belgrave line.

How do your line and station compare?

Alamein

  • Richmond: $1.26 million
  • Burnley: $1.21 million
  • Hawthorn: $2.02 million
  • Auburn (Hawthorn East): $1.971 million
  • Camberwell: $2.108 million
  • Burwood: $1.265 million
  • Ashburton: $1.675 million

Average median: $1,644,142

Belgrave

  • Richmond: $1.26 million
  • Burnley: $1.21 million
  • Hawthorn: $2.02 million
  • Auburn (Hawthorn East): $1.971 million
  • Camberwell: $2.108 million
  • Canterbury: $2.83 million
  • Surrey Hills: $1.85 million
  • Mont Albert: $1,937,500
  • Box Hill: $1.48 million
  • Blackburn: $1.369 million
  • Nunawading: $978,000
  • Mitcham: $980,000
  • Ringwood: $849,975
  • Heathmont: $877,500
  • Bayswater: $550,000
  • Boronia: $690,000
  • Ferntree Gully: $715,000
  • Upper Ferntree Gully: $669,000
  • Upwey: $660,000
  • Tecoma: $705,000
  • Belgrave: $600,000

Average median: $1,252,855

Cranbourne

  • Richmond: $1.26 million
  • South Yarra: $1.755 million
  • Toorak: $4.45 million
  • Armadale: $2.103 million
  • Malvern: $2,417,500
  • Caulfield: $1.633 million
  • Carnegie: $1,377,500
  • Murrumbeena: $1.332 million
  • Hughesdale: $1.337 million
  • Oakleigh: $1.15 million
  • Huntingdale: $1.1 million
  • Clayton: $1.12 million
  • Westall (Clayton South): $772,000
  • Springvale: $730,000
  • Noble Park: $608,000
  • Dandenong: $505,000
  • Lynbrook: $587,500
  • Merinda Park (Cranbourne North): $471,000
  • Cranbourne: $500,000

Average median: $1,326,763

Craigieburn

  • North Melbourne: $1.167 million
  • Kensington: $985,000
  • Newmarket (Flemington): $1.034 million
  • Ascot Vale: $1,123,100
  • Moonee Ponds: $1.23 million
  • Essendon: $1.25 million
  • Strathmore: $1.15 million
  • Pascoe Vale: $752,500
  • Oak Park: $765,000
  • Glenroy: $614,000
  • Jacana: $514,500
  • Broadmeadows: $490,000
  • Coolaroo: $470,000
  • Roxburgh Park: $490,000
  • Craigieburn: $485,000

Average median: $834,673

Frankston

  • Richmond: $1.26 million
  • South Yarra: $1.755 million
  • Toorak: $4.45 million
  • Armadale: $2.103 million
  • Malvern: $2,417,500
  • Caulfield: $1.633 million
  • Glen Huntly: $1.18 million
  • Ormond: $1.505 million
  • McKinnon: $1.56 million
  • Bentleigh: $1,377,500
  • Moorabbin: $1.018 million
  • Highett: $1.23 million
  • Cheltenham: $1.54 million
  • Mentone: $960,000
  • Parkdale: $1.2 million
  • Mordialloc: $1.045 million
  • Aspendale: $1.05 million
  • Edithvale: $975,000
  • Chelsea: $830,750
  • Bonbeach: $825,000
  • Carrum: $765,000
  • Kananook (Seaford): $650,750
  • Frankston: $555,000

Average median: $1,386,673

Glen Waverley

  • Richmond: $1.26 million
  • Burnley: $1.21 million
  • Heyington (Toorak): $4.45 million
  • Kooyong: $2,762,500
  • Tooronga (Malvern): $2,417,500
  • Glen Iris: $1.95 million
  • East Malvern: $1.72 million
  • Mount Waverley: $1.35 million
  • Glen Waverley: $1.3 million

Average median: $2,046,666

Hurstbridge

  • Jolimont (East Melbourne): $3,655,000
  • Richmond: $1.26 million
  • Collingwood: $1,125,000
  • Victoria Park (Abbotsford): $1,270,500
  • Clifton Hill: $1.295 million
  • Westgarth/Dennis (Northcote): $1.311 million
  • Fairfield: $1.39 million
  • Alphington: $1,530,700
  • Ivanhoe: $1.4 million
  • Eaglemont: $1.93 million
  • Heidelberg: $1,156,129
  • Rosanna: $1.135 million
  • Macleod: $916,500
  • Watsonia: $775,000
  • Greensborough: $756,000
  • Montmorency: $850,000
  • Eltham: $876,250
  • Diamond Creek: $730,000
  • Wattle Glen: $683,000
  • Hurstbridge: $707,500

Average median: $1,237,629

Lilydale

  • Richmond: $1.26 million
  • Burnley: $1.21 million
  • Hawthorn: $2.02 million
  • Auburn (Hawthorn East): $1.971 million
  • Camberwell: $2.108 million
  • Canterbury: $2.83 million
  • Surrey Hills: $1.85 million
  • Mont Albert: $1,937,500
  • Box Hill: $1.48 million
  • Blackburn: $1.369 million
  • Nunawading: $978,000
  • Mitcham: $980,000
  • Ringwood: $849,975
  • Ringwood East: $850,000
  • Croydon: $730,000
  • Mooroolbark: $695,500
  • Lilydale: $695,000

Average median: $1,357,907

Melton

  • North Melbourne: $1.167 million
  • Footscray: $849,000
  • Sunshine: $730,000
  • Ardeer: $577,500
  • Deer Park: $507,000
  • Caroline Springs: $571,000
  • Rockbank: $555,000
  • Melton: $344,000

Average median: $662,626

Pakenham

  • Richmond: $1.26 million
  • South Yarra: $1.755 million
  • Toorak: $4.45 million
  • Armadale: $2.103 million
  • Malvern: $2,417,500
  • Caulfield: $1.633 million
  • Carnegie: $1,377,500
  • Murrumbeena: $1.332 million
  • Hughesdale: $1.337 million
  • Oakleigh: $1.15 million
  • Huntingdale: $1.1 million
  • Clayton: $1.12 million
  • Westall (Clayton South): $772,000
  • Springvale: $730,000
  • Noble Park: $608,000
  • Dandenong: $505,000
  • Hallam: $540,000
  • Narre Warren: $565,000
  • Berwick: $641,000
  • Beaconsfield: $646,000
  • Officer: $495,000
  • Pakenham: $467,250

Average median: $1,227,465

Regional Rail Link

  • Footscray: $849,750
  • Sunshine: $730,000
  • Ardeer: $577,500
  • Deer Park: $507,000
  • Tarneit: $500,000
  • Wyndham Vale: $435,000

Average median: $599,875

Sandringham

  • Richmond: $1.26 million
  • South Yarra: $1.755 million
  • Prahran: $1,522,500
  • Windsor: $1,502,500
  • Balaclava: $1.111 million
  • Ripponlea: Insufficient data
  • Elsternwick: $1,874,500
  • Gardenvale: $1.66 million
  • Brighton: $2.65 million
  • Hampton: $1.89 million
  • Sandringham: $1,757,500

Average median: $1,698,300

South Morang

  • Jolimont (East Melbourne): $3,655,000
  • West + North Richmond (Richmond): $1.26 million
  • Collingwood: $1,125,000
  • Victoria Park (Abbotsford): $1,270,500
  • Clifton Hill: $1.295 million
  • Rushall (Fitzroy North): $1.441 million
  • Northcote: $1.311 million
  • Thornbury: $1.11 million
  • Preston: $914,500
  • Reservoir: $725,000
  • Thomastown: $612,250
  • Lalor: $582,250
  • Epping: $540,000
  • South Morang: $575,500

Average median: $1,172,643

Sunbury

  • North Melbourne: $1.167 million
  • Footscray: $849,750
  • West Footscray: $872,000
  • Sunshine: $730,000
  • Albion: $660,000
  • St Albans: $582,000
  • Sydenham: $520,500
  • Diggers Rest: $441,000
  • Sunbury: $455,000

Average median: $726,225

Upfield

  • North Melbourne: $1.167 million
  • Royal Park (Parkville): $1,743,750
  • Brunswick: $1.1 million
  • Coburg: $928,000
  • Batman + Merlynston (Coburg North): $765,000
  • Fawkner: $650,000
  • Gowrie (Glenroy): $614,000
  • Upfield (Campbellfield): $474,167

Average median: $930,240

Werribee

  • North Melbourne: $1.167 million
  • South Kensington (Kensington): $985,000
  • Footscray: $849,750
  • Seddon: $970,000
  • Yarraville: $1,016,250
  • Spotswood: $944,250
  • Newport: $1 million
  • Seaholme: $1.09 milion
  • Altona: $855,000
  • Laverton: $497,000
  • Williams Landing: $612,000
  • Hoppers Crossing: $485,000
  • Werribee: $450,000

Average median: $989,450

Williamstown

  • North Melbourne: $1.167 million
  • South Kensington (Kensington): $985,000
  • Footscray: $849,750
  • Seddon: $970,000
  • Yarraville: $1,016,250
  • Spotswood: $944,250
  • Newport: $1 million
  • Williamstown: $1.385 million

Average median: $1,039,656

Real estate & property news
20 November 2017
Save Article

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