Sky will be the limit

Herald Sun - Property - - SUBURB PROFILE -

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.

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