Michaela Meade
Doreen has been named in the top 10 suburbs experiencing the shortest days on market, according to recent data from the Real Estate Institute of Victoria (REIV).
Doreen was reported as the suburb with the 10th lowest median days on the market in May 2021, with a median of 15 days recorded.
Wandin North was named in the top spot, with a median of seven days on the market in May 2021.
Days on market is the number of days a property will typically be listed for before it is sold, which gives an insight into buyer interest and activity.
Fletchers’ director Craig Maskell said Doreen’s popularity can be attributed to its amenities.
“People are seeing great value in Doreen,” Mr Maskell said.
“We’re finding there’s a healthy demand.
“People are finding great things on offer… it accommodates a lifestyle that people are looking for.
“Even now, with [the COVID-19 pandemic], you’re further out but still close to the city.
“There’s great schools, you can work from home, and there’s easy access to a lot of things.
“You have that all on your doorstep.”
Doreen’s success follows Victoria’s regional area experiencing a “red hot run”, while the REIV also reported that more Victorians are making the move to outer Melbourne.
Mr Maskell said Fletchers has seen a mix of interested buyers in Doreen.
“We’re just finding that [for] a lot of people, it’s coming onto the radar for them,” he said.
“Some people are already semi-local… some are first home buyers, some are upsizing… there’s a mix.
“There’s a great lifestyle out there, it’s very green… it’s an attractive prospect for people.
“It’s a complete package… and people are drawn to it.”
Mr Maskell said the demand for Doreen is “very strong, very healthy”, evidenced by one case that was sold in less than a week.
“We had a house in Doreen, it went live on a Saturday, and it ended up selling on the Thursday,” Mr Maskell said.
“It sold well above the asking price, and that’s not an isolated case.
“Days on the market in Doreen are very short.”
Doreen’s popularity comes as house prices continue to rise across the City of Whittlesea.
According to the REIV, South Morang lead the city’s price increase, recording a 12.4 per cent rise in its median house price between March and June. The median house price as of June was $742,000.
The REIV said metro Melbourne recorded a 0.2 per cent increase from March to June.
Doreen had a 3.5 per cent price increase during the same, with the median sale price $700,000 as of June.
Lalor and the Whittlesea township were the only two suburbs in the municipality to experience negative quarterly price changes, with price following 7.4 per cent and 9.9 per cent respectively.
Lalor’s median sale price was $696,000 as June, while the Whittlesea township’s was $578,000.
