Downsizers Drive 15% Price Growth in Essendon Suburbs

Essendon's median house price has surged to $1.2 million, with downsizers driving demand for properties in the area, particularly in suburbs like Strathmore and Essendon North.

This trend matters now because the local property market is experiencing a significant shift, with many long-time residents opting to downsize from larger family homes to more low-maintenance properties, freeing up stock for first-home buyers and families. The appeal of Essendon's vibrant community, with its popular eateries like the Town Hall Hotel and the Essendon Football Club, is a major drawcard for downsizers seeking a more relaxed lifestyle.

In Essendon, downsizers are being drawn to specific neighbourhoods like Rose Street, where they can find a mix of period homes and modern townhouses, and the Buckley Street shopping precinct, which offers a range of amenities and services. Organisations like the Essendon Community Centre and the Moonee Valley City Council's aged care services are also providing support and resources for older residents, making the area an attractive option for those looking to downsize.

Market Trends

According to data from the Real Estate Institute of Victoria, the median house price in Essendon has increased by 12% in the past 12 months, with some suburbs like Strathmore seeing growth of up to 15%. The average rental yield in the area is around 3.2%, making it an attractive option for investors. Since January 2026, there have been over 200 property sales in Essendon, with the majority being to downsizers, and the most popular price range being between $800,000 and $1.2 million.

For those considering downsizing to Essendon, it's essential to research the local market and understand the factors driving demand. With the Moonee Valley City Council's planning scheme amendments set to come into effect in September 2026, there may be opportunities for developers to build more medium-density housing, which could impact the local property market. As such, downsizers should be prepared to act quickly to secure their desired property, and consider seeking advice from local real estate agents and experts to navigate the market.

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.