CITY OF MANNINGHAM - Metropolitan Melbourne, VIC
A price correction across the Manningham property market, following several years of strong price growth, is luring younger buyers into the market.
Population growth and new unit construction is driving the number of unit sales higher, which is offsetting the fall in the number of house sales.
More growth is expected as the City of Manningham is marked as a major Metropolitan Activity Centre under Plan Melbourne 2050.
Transport upgrades are a priority and the proposed North East Link will complete the ring road between the Eastern Freeway and the M80 Ring Road, connecting the growing northern and south-eastern suburbs.
Longer term, there is provision in the transport planning for a new train line from the Melbourne CBD to Doncaster.
Such improvements would dovetail with State Government planning to have high-density housing near railway stations to make commuting to work easier.
This suggests the long-term prospects of the Manningham property market remain highly positive.
This report covers the suburbs of Bulleen, Doncaster, Doncaster East, Donvale, Templestowe and Templestowe Lower