City of Knox
Strongest competition in auction activity
For private listings
The Basin had the fifth fastest selling time compared to all suburbs in Melbourne in 2023.
The Basin, 18 days
Boronia, 25 days
Bayswater, 27 days
Scoresby, 28 days
Ferntree Gully, 28 days
For auctions
City of Knox cleared 87.5 per cent from 1,012 auctions throughout 2023, which was the strongest clearance rate among metro municipalities.
Data at a glance - Knox
Quarterly change between Dec Q 2023 and Sep Q 2023
Median
House Price $1,000,000
Lower Quartile $865k Upper Quartile $1.2m
Median
Quarterly Change -2.8%
Quarterly Change -1.5%
Lysterfield, 28 days
Proportion of private vs. auction sales for 12
months from January to December 2023
•
Private 62%
Auction 38%
Unit Price
auction:
$679,500
Lower Quartile $580k
The top selling suburbs through auction
Suburb
Sold
CR%
Ferntree Gully
180
90.9%
Upper Quartile $778k
Wantirna South
142
87.1%
Rowville
134
87.6%
Median Weekly Rent
Wantirna
109
84.5%
House
Annual Change
Boronia
101
87.8%
$550
+14.6%
Bayswater
68
84.0%
Unit
Annual Change
Knoxfield
56
84.8%
$490
+14.0%
Top performing units in the market
Quarterly change between Dec Q2023 and Sep Q 2023
Wantirna South recorded the third highest quarterly growth rate on its median unit price in metro Melbourne, showcasing the ongoing strong demand for the area.
The Basin and Knoxfield posted strong growth for their median house prices with Knoxfield rising past the one-million-dollar mark again.
Solid rental growth
Annual change between Dec Q 2023 and Dec Q 2022
Every suburb in Knox recorded double digit increases in their unit weekly rents. This is led by Scoresby's 26.5 per cent growth, eleventh highest in Melbourne.
House
Annual
Median
Rents
House
Median Price
Quarterly Change
Change
The Basin
$940,000
+11.9%
Lysterfield
$570
+18.8%
Knoxfield
$1,042,000
+9.9%
Ferntree Gully
$530
+17.8%
Wantirna
$1,245,335
+7.4%
Scoresby
$550 +17.0%
Wantirna
$580
+15.4%
Bayswater
$928,250
+5.7%
Median
Annual
Unit/Apt
Median Price
Quarterly Change
Unit/Apt
Rents
Change
Wantirna South
$700,000
+37.3%
Scoresby
$573 +26.5%
Rowville
$729,000
+0.6%
Knoxfield
$550 +22.2%
Wantirna South
$520
+18.2%
Developments that will potentially
boost property value in the area
The State Basketball Centre has completed 12 new basketball courts and is adding function spaces and refurbishing existing courts, targeting a finish midway through 2024.
A new $5m Knox Library is expected by March 2024 to serve the neighbouring community.
Knox private hospital expansion is upgrading intensive care and coronary care units throughout 2024.
BAYSWATER
WANTIRNA
WANTIRNA SOUTH
SCORESBY
FERNTREE GULLY
Snapshot based on data reported to the REIV and PropertyData.
Members can access REIV data insights at reiv.com.au/research or contact research@reiv.com.au
