It’s the real estate secret Wyndham locals have known for years – now Melbourne is sitting up and taking notice of Hoppers Crossing.
The suburb topped a list of the Real Estate Institute of Victoria’s top 10 suburbs to watch this year.
Institute chief executive Geoff White said Hoppers Crossing had enjoyed a median house price growth of 15 per cent in the past year to $416,750.
He said solid auction activity, with an 84 per cent clearance rate and a quick turnaround on private sales, signalled strong buyer demand, with future price growth expected.
Hoppers Crossing was one of five suburbs across the west that made the REIV top 10, with Ardeer, St Albans, Kings Park and Delahey also named.
Mr White said outer suburbs were likely to be the top performers in 2017.
“Lower stock levels, record low interest rates and strong population growth will encourage buyer interest well into 2017,” he said.
“Agents were already filtering listings for February, well ahead of the close of the 2016 year – a very positive sign for the first quarter of 2017.
“House [prices] in Melbourne’s outer suburbs have grown steadily throughout 2016, and given that days on market for the outer suburbs are the lowest in the state, at 28 days, this interest is likely to continue in 2017.”
The Hoppers Crossing renaissance has been going since 2015, with owner-occupiers and investors alike flocking to the suburb.
Wyndham real estate agents, including Rob Westwood from Westwood First National, have told Star Weekly that many Sydney investors have bought, or are interested in, Hoppers Crossing properties.
Samantha McCarthy, from Hockingstuart Werribee, said a shortage of homes on the market and developments such as Pacific Werribee and AquaPulse were driving up prices in Hoppers Crossing and Werribee.
