Sellers stay put

Herald Sun - Property - - SUBURB PROFILE -

FIG­URES show that peo­ple buy and sell prop­erty in Mel­bourne al­most ev­ery 10 years on av­er­age.

Yet there are sub­urbs where prop­erty is far more tightly held for a va­ri­ety of rea­sons.

That’s the case in Or­mond, where homes change hands on av­er­age al­most ev­ery 17 years.

The mil­lion-dol­lar sub­urb sits in the top 10 long­est-held sub­urbs, ac­cord­ing to CoreLogic RP Data.

The me­dian price in Or­mond is al­most $1.16 mil­lion, achiev­ing 6.3 per cent cap­i­tal growth in the past 12 months.

There is a mix of prop­er­ties, from fine pe­riod homes to mid-cen­tury flats and mod­ern apart­ments and town­houses.

North Rd serves as a bound­ary be­tween school zones in Or­mond, be­tween Glen Eira Col­lege and McKin­non Sec­ondary Col­lege, while the sub­urb also hosts co-ed­u­ca­tional Kilv­ing­ton Gram­mar, plus Or­mond Pri­mary School and St Kevin’s Pri­mary.

The busy thor­ough­fare is home to Or­mond’s main shop­ping precinct, with restau­rants and cafes, a su­per­mar­ket, bank and spe­cialty stores.

The sub­urb also has play­grounds, bar­be­cue fa­cil­i­ties and off-leash dog ar­eas within EE Gunn Re­serve in Malane St, while the his­toric Box Cot­tage is in Joyce Park.

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