CITY OF WHITEHORSE, Metropolitan Melbourne, VIC
The Whitehorse LGA in the eastern suburbs of Melbourne is one of the outstanding markets in Australian real estate.
It ranks nationally for long-term capital growth rates, with most suburbs recording 10-year growth averages of 9–10% per year.
In recent years the suburbs of the Whitehorse LGA have recorded outstanding price growth, including many locations with growth above 20% in 2015. Double-digit increases have been consistent since 2016.
The long-term future for this precinct looks positive. Melbourne’s current population is estimated to grow from 4.3 million to 7.7 million by 2050, which has prompted the State Government to put growth management strategies in place. Under Plan Melbourne 2050, several major Metropolitan Activity Centres have been identified to cope with the anticipated growth and Box Hill in the Whitehorse LGA is one. Nearby Ringwood is another.
The growth strategies will ensure Whitehorse benefits through investment from both the public and private sectors.
This report covers the suburbs of Blackburn, Blackburn North, Blackburn South, Box Hill, Box Hill North, Box Hill South, Burwood, Burwood East, Forest Hill, Mitcham and Nunawading.