Sky will be the limit
THERE’S a lot to bring buyers to Carnegie, which offers a wealth of shops, restaurants and cafes, parks, schools and public transport.
But one thing most people don’t appreciate is the traffic.
Carnegie is on the Cranbourne/Pakenham train line, which crosses busy Koornang Rd (pictured) near the suburb’s train station and close to Dandenong Rd.
That’s why the suburb is at the centre of the State Government’s Skyrail proposal to remove a series of railway level crossings between Caulfield and Dandenong.
Despite traffic snarls, Carnegie joined Melbourne’s growing class of million-dollar suburbs in style in 2015, with the median house price climbing 57 per cent in three years to $1.25 million.
Stockdale & Leggo, Glen Huntly, director Des Lorkin said a combination of buyers seeking period California bungalows to renovate and developers looking for new sites to construct apartments were pushing the recent price growth.
“It’s close to the city, there’s good shopping and restaurants,” he said. “I ride my bike to the beach, so it’s close to the water.”
Carnegie, which is about 12km southeast of the city, has also experienced strong capital growth in unit prices, which have risen more than 20 per cent in the past three years to $535,000.
That’s due in part to the amount of unit development in the suburb, which Mr Lorkin said was changing the character of Carnegie.
Only 36 per cent of Carnegie’s dwellings are classed as separate houses. The remainder are split between townhouses and units or apartments.
Carnegie is well served by public transport. The number 67 tram terminates on Koornang Rd in the centre of the suburb, south of the main shopping strip.
The train station is north of the shops and near Dandenong Rd, but Mr Lorkin said residents also had close access to Glen Huntly and Ormond stations.