Discover Melbourne’s Hidden Gem: The City’s Second Priciest Suburb
Deepdene, a suburb in Melbourne, stands out as the city’s second priciest area, boasting an exclusive charm and a low turnover of properties. With around 609 houses, the suburb’s small size contributes to its distinct market dynamics.
Property Sales and Market Trends
In the past year, only 27 homes changed hands in Deepdene, marking a mere 3.6 percent turnover rate. This low figure is indicative of the suburb’s tightly-held nature, where the average homeownership spans approximately 19 years—twice the Australian average of eight years.
Key Influencers on Property Values
Deepdene’s high property values can be attributed to its desirable location and strong community amenities. It is nestled between prestigious suburbs such as Canterbury and Kew, and offers proximity to top-rated schools, well-maintained parks, and reliable public transportation.
- Located near quality educational institutions for families.
- Exceptional parks and tree-lined streets enhance the living experience.
- Good public transport links to the wider Melbourne area.
These features attract families looking to settle down long-term. Buyers are often high-earning professionals and executives who prefer larger land holdings, opting for either contemporary architectural designs or classic period homes.
Property Types and Buyer Preferences
According to market analysis, approximately 70 percent of Deepdene’s real estate comprises family-sized homes with substantial blocks. This demand is reflected in the mix of renovated 1920s and 1930s properties alongside modern luxury residences.
Reputable builders are increasingly popular here, appealing to both local and international buyers. Ultimately, the factors that influence property sales are location and presentation. Well-positioned homes with great aesthetics consistently attract strong interest during open inspections.
Market Activity Trends
Recent data indicates that the final quarter of 2025 showed a significant surge in market activity, with quality homes drawing large groups during open-home viewings—often 40 to 50 prospects over a typical four-week campaign.
Deepdene consistently ranks among Melbourne’s top five suburbs in terms of median house value. This reliability solidifies its status as a sought-after location. The scarcity of available homes further intensifies demand, driving upwards property values.
As such, Deepdene remains a premier choice for discerning homebuyers, establishing itself firmly as Melbourne’s second priciest suburb and a hidden gem in the city’s real estate market.
