Coburg Rezones Gaffney Heights: Property Values Set to Surge

Change is coming to Gaffney Heights. Long overshadowed by Coburg Central and the bustling precincts along Sydney Road, this under-the-radar pocket is suddenly at the centre of council plans that could trigger a wave of redevelopment and fresh investment.

Rezoning proposals now before the Moreland City Council are putting Gaffney Heights back on the map. Landowners and prospective buyers have taken notice, with whispers of mixed-use precincts and an extension of the neighbourhood residential zone providing fertile ground for speculation. While similar plans stalled in other parts of Coburg in recent years, pressure on housing supply and high demand for amenity remain acute, giving these proposals added urgency.

Locals Look Ahead as Interest Grows

Morning foot traffic around the Bell Street Plaza and the Leo Street Local Market hints at changing patterns. The Gaffney Heights Community Association held a public meeting in late June at the Fiveways Hall, drawing the suburb’s largest turnout in two years. Residents sought clarity on what an expanded zoning overlay could mean for classic interwar bungalows and the wave of modern, low-rise developments lining Winston Avenue. Meanwhile, the presence of the Coburg North NewTech Precinct on Munro Street continues to attract young professionals and entrepreneurs to the area, further adding to momentum.

Agents from local agencies including Wallace & Perry Real Estate say listings on Olympic Avenue and Plumer Street are attracting double the inquiry volumes seen last autumn. While average house prices in Coburg East hovered around $1.27 million as of May 2026, Gaffney Heights has held at a more accessible median of $985,000, according to registry sales data compiled by Moreland Insights. That price differential, combined with whispers of rezoning, has made the suburb a magnet for buyers seeking both capital growth and lifestyle amenities such as the Coburg Lake Reserve and Merri Creek Greenway.

What to Watch Next for Investors and Residents

The current public submission period on the draft rezoning plan runs through July 25, with council officers expected to report on community feedback in early August. For now, local stakeholders are advised to study the draft overlays and attend council drop-in sessions at Gaffney Heights Library over the next three weeks.

As rising demand and possible zoning changes put Gaffney Heights in the spotlight, both long-term residents and prospective investors are weighing how to position themselves. If rezoning proceeds, planners anticipate a modest rise in medium-density housing approvals by late 2027 and correspondingly higher land values. For those seeking Coburg’s next property hotspot, the true window of opportunity in Gaffney Heights may be just beginning to open.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.