Coburg Metro Extension Project Drives Up Property Values Near New Stations

The Coburg Metro Extension reached a key milestone on 8 July 2026 when state planners released the final route for three new stations between Moreland Road and Gaffney Street. Median house prices in those immediate blocks have climbed 14 percent since the route was first confirmed in March 2025.

The project matters now because federal funding agreements expire at the end of 2026 and construction crews are already mobilising storage yards at the old Pentridge site. Residents and investors are locking in purchases before the first track-laying crews arrive in September.

Properties along Bell Street between Sydney Road and Nicholson Street sit closest to the middle station. Further west, streets bordering the Merri Creek Trail near Coburg Village shopping centre have recorded the sharpest weekly auction clearance rates in the past quarter. Local real estate offices report multiple offers on three-bedroom weatherboard homes that previously sat on the market for six weeks or longer.

Price records and buyer patterns

CoreLogic data for Coburg North shows the median detached house price reached $792,000 in June 2026, up from $694,000 twelve months earlier. Units within 400 metres of the future stations averaged $485,000, a 9 percent rise over the same period. Comparable sales on adjacent streets outside the 800-metre radius moved only 3 percent.

Settlement records filed with the local council list 47 transactions in the affected zone since January. Twenty-nine of those buyers cited the new stations in their finance applications. First-home buyer grants processed through the Coburg branch of the state revenue office increased 22 percent year-on-year.

Next steps for buyers and sellers

Planning permits for the station precincts will be on public exhibition until 15 August. Prospective purchasers can review the documents at the Coburg Library on Victoria Street or submit comments through the council portal. Sellers in the impact zone are advised to obtain updated valuations before the next quarterly rate notices are issued in October.

Construction traffic management plans will close sections of Bell Street during peak hours once works begin. Agents recommend checking the project website for updated detour maps before scheduling inspections.

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.