Once an area referred to as a ‘ghost town’, Highett has evolved into a hub of real-estate activity ever since the suburb caught the eye of first-home buyers. The increase in buying activity has doubled the median sale price in the area over the course of the last five years to $1.335 million. As one of the last remaining up-and-coming suburbs, young families are attracted to the idea of investing in an area that is on the rise. In fact, the median age of Highett’s residents is below 40, according to CoreLogic. Also, just last year, the suburb was named the fourth best performing for house value gains, according to a CoreLogic report.
Due to Highett’s relative affordability and proximity to the beach, it’s no surprise that home buyers are flocking from St. Kilda and Elwood to the previously unpopular suburb. For more on the Highett Boom, head here for the full article that was featured in the Bayside Leader.