Miles Residential Market Update - Resilient Market Conditions Across Banyule
The 2026 market has held firm across Melbourne’s north-east, with positive results across Banyule and its surrounding suburbs. Despite some negative media sentiment, the local market is still moving, and properties are continuing to sell - albeit at a more measured pace.
Based on information obtained from propertydata.com.au, Banyule’s median house price has reached $1,140,000 for Q1 2026, and is at an all-time high, reinforcing the ongoing demand for quality homes in well-connected, lifestyle-driven suburbs. Unit prices have remained steady, with a median of $740,000, showing consistent performance over the past two years.
Days on market have eased slightly, and in many cases achieving the right result is taking more time and persistence. Our focus remains on standing firm for our vendors, with our agents working diligently to secure the best possible outcome.
Suburb Highlights
Several key suburbs have delivered notable growth in Q1 2026:
Ivanhoe has recorded strong performance, with house prices increasing by 9.1% to a median of $2.2M, while units have grown 5.5% to $725K 1
Rosanna has seen house price growth of 3.8%, with a median of $1.4M, while units have experienced a standout 12.3% quarterly increase, reaching $865K 1
Eaglemont continues to perform at the premium end, with house prices rising 4.6% to a median of $2.7M 1
Market Conditions
While listing numbers increased earlier in the year up to Easter, we are now seeing a seasonal easing in new stock. This is typical for this time of year and not necessarily a reflection of economic uncertainty. Buyer demand remains steady, with many motivated to secure long-term housing.
On the Market
3 Waverley Ave, Ivanhoe
This high-quality, off-the-plan development continues to perform strongly, driven by the scarcity of boutique apartment offerings of this calibre. A limited number of ground and first-floor apartments remain available, with two of the three penthouses already sold.
65-67 Mount Street Eaglemont
Framed by mountain views and a coveted Eaglemont address, this elegant Federation home sits within a beautifully elevated garden setting, offered for the first time in 47 years.
Recently Sold
Despite more difficult conditions, we’ve still delivered strong results for our vendors.
A few recent highlights include:
- 54 Eyrie Street, Eaglemont – successfully sold to a local buyer (Price Confidential).
- 106 St James Road, Heidelberg – strong interest from multiple parties selling for $1,505,000.
- 10 Jedem Close, Viewbank – a highly competitive auction environment (Price Confidential).
- 22 Braid Hill Road, Macleod – Sold off-market for $1,615,000.
- 132 Waiora Road, Rosanna – Sold at auction for $1,905,000.
Lastly, Gordon Hope, Partner and Auctioneer at Miles has been recognised as Ivanhoe’s Top Agent 2025 by realestate.com.au. This is a reflection of his consistently strong results, local knowledge, and the ongoing trust of our clients in the area.
Overall, the Banyule market continues to demonstrate resilience and strength, underpinned by consistent demand, limited supply, and the enduring appeal of Melbourne’s established inner-north suburbs.
For homeowners considering selling or simply curious about their property’s current value, get in touch to arrange an updated market appraisal.
Source: 1. https://reiv.com.au/market-ins...
