$2 million house sale no longer a pipedream for Melville

Mont Property has made a record rivalling $2.1 million property sale in Melville, amid unprecedented buyer interest in the suburb.

Long considered a middle class mortgage belt, Melville is attracting the attention of high-end buyers who are keen to capitalise on larger landholdings and the lifestyle amenity of neighbouring riverfront locales.

This month, Mont brokered the sale of the two-storey five bedroom, three bathroom house at 6 Guy Place, Melville for an incredible $2.1 million.

The sale was hot on the heels of the current property record for Melville, which stands at $2.13 million in 2007 for a landholding triple the size.

Mont Managing Director Matthew Podesta, who negotiated the Guy Place sale with Chris Sofoulis, said the sales price showed what could be achieved with enthusiastic, hardworking and well-connected agents.

“Melville is no longer seen as the poor cousin of the area,” Mr Podesta said.

“We are finding that aspirational and affluent families are seeing the benefits of Melville with the bigger blocks, or even the slightly smaller blocks with newer homes, the amenity and the proximity to lifestyle hubs that the suburbs with direct riverfront enjoy.

“Melville is a very strong consideration for homebuyers at the moment. People are actively telling us that they are looking for their next home in Melville because the tight market means they can’t find what they are looking for in suburbs like Attadale and Bicton.

Mr Podesta said the sale of 6 Guy Place was a case in point.

“We received more than 150 inquiries in three days on that property alone, which shows the magnitude of interest for a quality home in Melville,” he said.

Real Estate Institute of WA data shows Melville has seen steady growth in the past year, with prices increasing by 2.3%, netting a median house price of $890,000 for the suburb.

RP Data shows that the number of house sales in Melville has increased considerably in Melville over the past five years, with 130 made in February 2022 compared to 82 in February 2017.

If you live in Melville and are looking to sell, speak to the expert team at Mont. We are in touch with buyers who want to buy in your suburb.