Boroondara remains one of Melbourne’s most competitive prestige markets, with strong demand in the $4 million to $8 million bracket and continued activity at the ultra-prestige level.
Partner
Kay & Burton Partner Tom Staughton said the top end was moving at its own pace, as buyers become more selective in sourcing the right property.“In the $4 million to $8 million bracket, demand has been particularly strong,” he said. “Above that, the ultra prestige is a different segment—homes are still transacting, but buyers at this level tend to be more deliberate in their decision-making.”
Below $4 million, Mr Staughton noted interest rates and borrowing costs have had a greater impact, but anticipated momentum would continue building over spring. “With rates now on a downward track, we’ll likely see this part of the market pick up, especially as more stock comes to market,” he said. Well-renovated family homes on blocks above 500 sqm remain among the most sought-after, particularly when located in coveted school zones. Cotality data shows homes around Balwyn High School and Canterbury Girls’ Secondary College command a 4.6 per cent premium over out-of-catchment properties, with combined capital growth of 113.2 per cent over 15 years—outperforming the 108.2 per cent growth recorded outside these areas.
“If you’ve got a good-sized block in a popular location with a quality renovation, you can expect strong competition this spring,” Mr Staughton said.
“Buyers are prepared to pay a premium for time and convenience, especially when the lifestyle and education boxes are all ticked.”
PropTrack’s latest figures show Boroondara recorded 9.3 per cent growth in the three months to June, leading to a $2.5 million median sale price—making it the state’s most expensive municipality, ahead of Stonnington at $2.15 million. Houses spend an average of 40 days on market, closely aligned with Melbourne’s 36-day average, underscoring the area’s balanced yet competitive conditions.
“It’s not a runaway market, but it’s also not one where bargains are easy to find,” Mr Staughton said. “We’re in a healthy state of balance—vendors can achieve strong results, and buyers have genuine opportunities to secure quality homes. As we move into October and November, increased stock levels will give purchasers the chance to secure their dream home and settle before the 2026 school year.”
Last financial year, Kay & Burton held 50 per cent of Boroondara’s $10 million-plus sales and 40 per cent above $7 million, compared to the nearest competitor at 18 per cent and 25 per cent, respectively*, resulting in unparalleled market reach.
*Data sourced from realestate.com.au sold listings and Kay & Burton CRM
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