City of Maroondah
For private listings, Croydon Hills and Heathmont were tied for the 6th fastest-selling suburbs in Melbourne, at 23 days.
- Croydon Hills, 23 days
- Heathmont, 23 days
- Croydon South, 24 days
- Croydon North, 26 days
For auctions, The municipality cleared 83.9 percent from 118 auctions in the first three months of 2023.
The top selling suburbs through auction: Suburb Sold CR%
Croydon 17 85.0%
Ringwood 13 61.9%
Ringwood North 13 92.9%
Ringwood East 11 84.6%
Bayswater North 10 90.9%
Heathmont 10 76.9%
Developments that will potentially boost property value in the area
- $4m Jubilee Park indoor cricket center to be completed in June 2023.
- $14.7m modernization of Ringwood Secondary College, building a new science and technology building.
- Maroondah Council will build 2 car parks in Ringwood and Heathmont as part of the $24m Activity Centre Carpark Development Program.
- Croydon Community Wellbeing Precinct is planned to host council and community services including an eastern regional library and a kindergarten.
An emerging market full of opportunities Maroondah achieved the 7th highest quarterly rise in median house prices with three suburbs growing by more than 10 percent in the period.
Ringwood crossed $1 million in median house prices as it grew by 13.4 percent over the quarter while Croydon South homes were snapped up fast in 24 days with the highest growth rate of 23.2 percent. Homes selling quickly
Source: DEWLP 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
Quarterly change between Mar Q 2023 and Dec Q 2022 Median Weekly Rent House Quarterly Change $498 +2.6% Unit Quarterly Change $420 +2.4% Maroondah – data at a glance Stable rental market
Annual Change Median House Rents
Croydon Hills $620 +8.8%
Ringwood East $480 +8.5%
Ringwood North $550 +7.8%
Croydon $500 +7.5%
The rental market remained resilient with Ringwood North houses and units increasing by over 7 percent in rents annually.
House Median Price Quarterly Change
Croydon South $967,500 +23.2%
Ringwood $1,037,500 +13.4%
Croydon North $1,182,500 +11.6%
Unit/Apt Median Price Quarterly Change
Bayswater North $551,000 +8.0%
Ringwood $602,500 +6.6%
Kilsyth $668,000 +3.6%
Ringwood East $722,500 +3.4%
Quarterly change between Mar Q 2023 and Dec Q 2022 Annual change between Mar Q 2023 and Mar Q 2022 Median Quarterly House Price Change $980,000
