Warrandyte’s entry price to housing hits $940,000. 10 years ago, the cheapest house sold for $610,000

The cheapest house currently for sale in Warrandyte is listed at $940,000, with a wave of luxury properties and a narrowing housing supply pushing the suburb's entry-level price toward seven figures.

📍 The location: Twenty-four kilometres north west of the Melbourne CBD, Warrandyte is secluded from city views and surrounded by the Mullum Mullum Creek and Warrandyte State Park.

• With a population of around 5,500, the small community has a reputation for attracting artists, families with older children and eco-conscious professionals looking for a place on the border of Melbourne’s metro and regional areas.

• Modelling from economic research company Informed Decisions (ID) projects an increase of only two new dwellings per year until 2046, due to planning controls, environmental protections and a Bushfire Overlay preventing housing growth.

📈 The price range: At the moment, the cheapest house for sale is at 56 Yarra Street – with three bedrooms and one bathroom across a 0.19-acre lot. It comes with a price guide of $880,000 to $940,000.

• The next two cheapest properties are over $1 million. The current median price is $1.5 million.

• For a three-bedroom house in Warrandyte, the median price is $1.21 million. This bumps up to $1.3 million for four bedrooms or $1.94 million for five bedrooms.

🗓️ How we got here: Ten years ago, the median price was $900,000.

• Jellis Craig Doncaster director Chris Savvides said owners often held onto houses for longer in the suburb than other regions with higher turnover and a higher vacancy rate.

• 🗣️ “People come here for the lifestyle,” Savvides told the Eastern Melburnian. “People that buy in Warrandyte generally stay until their kids grow up and move out of home. It’s an area where there’s not a lot of chopping and changing.”

💰 The high end: Featuring four bedrooms, five bathrooms and space for seven cars to park, a property at 100-110 Husseys Lane on the market for $5 million to $5.5 million represents just how luxurious some parts of the area have become.

• Highlighted features include a solar and gas-heated infinity swimming pool, an outdoor fireplace, equestrian facilities, an “ornamental dam” and an entry foyer.

• In terms of the hardware on site, there is bronze-tinted double glazed windows, hydronic heating, zoned ducted refrigerated air conditioning, additional split systems, underfloor bathroom heating, automated blinds, ducted vacuuming, sound systems, security cameras, and 80,000 litres of water tanks.

Thumbnail Image Credit: Bob T