Only a handful of homes have changed hands in these sought-after postcodes over the past year.
Low listings levels were contributing to low turnover of properties in suburbs like Caulfield.Families in exclusive neighbourhoods may hold on to their properties for a long time.The suburbs where Melbourne homeowners are loath to part with their properties range from tiny, esoteric locales to prestigious inner city postcodes.
The figures come as owners have been hesitant to list their homes for sale over the past year amid economic uncertainty and rising interest rates, putting further downward pressure on the number of listings in already small neighbourhoods. “Both houses [either side of mine] are about five storeys high with roof gardens. I thought that it’s perfect for some kind of intentional community,” she said. “You don’t need a car in Cremorne and you don’t need one for every bedroom.”
Melbourne’s other tightly held suburbs include prestigious Kooyong , East Melbourne and Princes Hill . “Kooyong and Deepdene are the family areas where people want to be close to the schools,” she said. “They’ll be there for 20 years while the kids go to school, then they’ll love it and downsize and stay in the area.”
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