Boroondara - Spring 2026 Market Update

Boroondara’s property market is not as simple as the numbers might suggest.

Sales of homes above $1.5 million were down around 60% over winter compared with the same period last year. However, from what I’m seeing, buyers haven’t disappeared — they’ve simply become much more selective.

At the moment, Boroondara feels like several different markets operating at once. There’s the A-grade market for rare, highly desirable homes, a middle market for good but replaceable properties, and a slower market for properties with compromises or unrealistic price expectations.

Buyers are still there — but they want value

When a genuinely scarce family home comes to market, buyers can still compete strongly. Good land, a great street, natural light, a functional floorplan, strong school options and proximity to shops and parks can make a huge difference.

A great example is 11 Lesley Street, Camberwell, which sold for $2.67 million. Three bidders made 23 bids, with the property eventually selling $70,000 above the point where it was declared on the market.

That tells me something important: buyers are still willing to compete when they believe a property represents good value.

Pricing matters

I think one of the biggest mistakes vendors can make right now is trying to establish their final sale price from the beginning.

The goal of a campaign should be to attract multiple buyers and create competition. There is a big difference between a buyer thinking, “That’s expensive,” and thinking, “At that price, that’s actually good buying.”

Once buyers see value, they are more likely to inspect again, get their finance organised and ultimately compete.

Same suburb, very different results

We’re seeing properties in the same suburb achieve completely different outcomes. Some Camberwell homes have passed in, while others have attracted multiple bidders. 16 Yarrbat Avenue, Balwyn, for example, sold for $2.668 million within its advertised range.

This shows that the market isn’t necessarily broken — it’s becoming much more focused on the quality and value of each individual property.

The same applies across Hawthorn and Hawthorn East. Scarcity isn’t always about land size. Period character, walkability, schools, parks, village lifestyle and location can all create scarcity.

To me, A-grade doesn’t necessarily mean bigger — it means harder to replace.

What makes a property A-grade?

The properties attracting the most interest tend to have a combination of:

• A great street or tightly held location
• Good land and orientation
• Natural light
• A functional family floorplan
• Quality renovations or period character
• Strong school positioning
• Easy access to shops, parks and transport
• Limited immediate work required
• Features that are difficult to recreate

This is why two similar-looking properties can have completely different buyer interest.