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Is Glen Eira Undervalued?

July 8, 2010

Residences in Caulfield North and Elwood are among the most undervalued in the country, according to Australian Property Investor magazine.

API Magazine labelled has labelled these Glen Eira suburbs as “blue-ribbon real estate bargains”, despite the median house price being well above $1 million in both suburbs.

How do you define a blue ribbon suburb? Blue-ribbon suburbs are those that outperformed the rest of the market in 2007, underperformed in 2008 and then did better than the wider market in 2009.

Elwood’s median house price was $1.34 million in March, while Caulfield North came in at $1.25 million.

But agents and buyers’ advocates believe property prices may start to cool, with more and more houses finding their way on to the market.

A new website which has been instigated by several of Melbourne’s inner city councils including Yarra, Stonnington and Port Philip investigates housing affordability more generally in the state.

Click here to find out more statistics about your favorite neighbourhoods – and see if they are worth buying more homes in!

*Stockdale and Leggo Elsternwick has gathered this information to provide an interesting document for readers and subscribers. Information contained herein is gathered from a range of sources including but not limited to; local Victorian press both virtual and hardcopy, Valuer General Information & Agents own investigations. All efforts are made to verify the information provided. The information is not to be relied upon or used in dealings with third parties and people should make their own investigations regarding their own property or personal circumstances. Opinions and observations offered should not be treated as fact.

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