As a single mother, Heather had written off being a homeowner. But as rents rose, she took a life-changing step.
Prestige suburb Middle Park recorded the biggest fall.Heather Threadgold had written off buying her own home. As a single mother, she felt like the dream was well out of reach.
“Maybe I had some missed opportunities in my 20s. It is about timing and I’ve done things a bit backwards, but it’s all panned out. You’ve got to not be too proud and go in with a housemate to save.”At first, the Geelong renter considered moving further out of the city, but after looking at how the COVID-era boom had lifted prices in the regions she settled on moving closer to family in Melbourne’s east.
Hawthorn’s median unit price was 6.5 per cent lower in the 12 months to September than in the previous year at $560,000, on Domain data. Threadgold paid a touch more for her new home. “The other sentiment is property prices have come off a little bit and people are seeing a bit more value at the moment.”Other suburbs had recorded stronger rises. The most growth in median prices over the 12 months to September were for houses in Lower Plenty , Warrandyte and units in Fairfield . They were the only suburbs to record double-digit annual growth.
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