Buyers head to hidden gem in Dandenongs foothills The Basin
Often bypassed by buyers in the past, homes in The Basin are now sought after.
The Knox suburb offers entry-level prices alongside more expensive listings with mountain vistas.
The tightly held area, covering 5.7sq km with a population of 4416, had just seven house listings and one home for rent as of May 21 on realestate.com.au.
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“The market here has really picked up and we get first-home buyers and also families drawn by the lifestyle change,” iTrak Boronia agent Dani Scorer said.
“There are beautiful new homes being built on large blocks and buyers fall in love with the houses here because of the views.”
A new listing at 346 Forest Rd had more than 25 groups at the first inspection, she noted.
The Basin is listed as a “high demand” suburb with 2266 visits per property on realestate.com.au, compared with the Victorian average of 850 visits.
Its median house price was $666,000 in the 12 months to February, according to CoreLogic.
This was the lowest median price among Knox suburbs, and it had risen 7.1 per cent over a year and 21.1 per cent over a three-year period.
Meanwhile, the polling day auction of 17 Christopher Ave drew five first-home buyers to compete for the entry-level property.
The contest gave the vendors a $670,000 result for the three-bedroom home.
The location was sought after, with the property offering renovation potential and good value, Harcourts Mitcham agent Alan Zou said.
The bidding started at $500,000 and rose quickly with $20,000 rises and finishing with $5000 bids.
“It was a very popular listing with more than 85 groups at the inspections,” Mr Zou said.
The property had a $600,000-$660,000 price guide and sold above the $650,000 reserve.
A newly married couple won the keys to the brick veneer house that sits on a landscaped block close to schools, parks and shops.
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