Toorak is very much part of the flight to quality and affordability playing out across this pocket right now. Recent high-value sales nearby have kept sentiment buoyant, and interstate buyer's advocates continue to call daily, drawn by Melbourne pricing while the window remains open.
Buyers here want solid brick, carefully constructed homes over anything flashier, with privacy and security genuinely front of mind. House prices have corrected sharply, down 26.7 per cent year on year, but the unit market tells a different story entirely, up 30.5 per cent in sales and clearing at 78.1 per cent.
As spring approaches and Melbourne's mood lifts with the footy finals, plenty of buyers are trying to get ahead of the curve. Prices are still adjusting across the board, but Toorak's reputation for quality streets and solid construction, brick over glass, is holding this pocket up well through the correction.
Median sale price for houses in Toorak is $3,665,000, down 26.7% from last year.
Median sale price for units in Toorak is $1,117,500, down 11.8% from last year.
Properties sold for houses in Toorak is 136, down 8.7% from last year.
Properties sold for units in Toorak is 231, up 30.5% from last year.
Auction clearance for houses in Toorak is 57.4%, down 17.5% from last year.
Auction clearance for units in Toorak is 78.1%, up 5.7% from last year.
Av days on market for houses in Toorak is 42, up 5.0% from last year.
Av days on market for units in Toorak is 42, down 8.7% from last year.
Wondering what homes are actually selling for locally? Browse recently sold properties in the area
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