Essendon Home Values Up 6.4% Year-on-Year as Mid-2026 Quarterly Figures Beat Last Year's Pace

Essendon's residential property market recorded a 6.4 per cent increase in median house prices over the 12 months to June 2026, with the most recent April-to-June quarter alone contributing 1.9 percentage points to that annual figure, a stronger quarterly result than the same three months in 2025, when the quarter came in at 1.1 per cent. The suburb's median house price has now crossed $1.41 million, according to sales data compiled from transactions registered in the Moonee Valley council area through to 30 June 2026.

The timing matters. Buyers who sat out the first half of 2025 hoping for a correction did not get one. Instead, the market tightened through winter and accelerated heading into the new financial year. That dynamic is now shaping decisions for anyone considering listing or buying before the traditional spring selling season, which local agencies along Keilor Road typically treat as the second major reset point of the calendar year.

Buckley Street and its surrounding pocket, bounded roughly by Raleigh Street to the north and Napier Street to the south, has been among the tightest precincts for stock. Agents working out of offices near Essendon's main retail strip on Napier Street have noted publicly that listing volumes in this corridor have trailed demand for three consecutive quarters. The Essendon Farmers Market precinct on Holmes Road has also seen renewed buyer interest in adjacent residential streets, with a cluster of four-bedroom homes selling above $1.55 million in May and June.

How This Quarter Compares to a Year Ago

In the April-to-June quarter of 2025, Essendon recorded roughly 142 settled house sales, based on figures lodged with the Victorian titles office. The equivalent quarter this year tracked closer to 128 settled transactions, fewer sales, but a higher median price per transaction. That compression in volume alongside price growth is a pattern consistent with low vendor confidence rather than weak buyer demand. Vendors holding off have inadvertently pushed up competition among buyers for whatever does hit the market, reinforcing the price trajectory rather than stalling it.

Unit prices have also moved, though more modestly. The median for units and apartments across the Essendon postcode, which covers 3040, rose approximately 3.8 per cent year-on-year to sit near $680,000. Two-bedroom units within walking distance of Essendon Station on the Craigieburn line have held their value most firmly, with proximity to the station remaining a consistent pricing premium across all market conditions.

What Buyers and Sellers Should Watch Next

The next meaningful data point arrives in October, when the July-to-September quarter settles. That quarter will capture any response to the Reserve Bank's most recent rate decisions and will show whether the current price momentum carries into the cooler months or softens as more listings come to market. Historically, Essendon's spring campaign, which begins in earnest around late August when properties start appearing on portals ahead of September auctions, brings a surge of listings that can briefly ease price pressure before absorbing it.

For sellers, the window between now and the first week of August represents the last chance to list into a genuinely low-inventory environment before spring competition arrives. For buyers, the data suggests waiting for a price correction has been a losing strategy for at least six consecutive quarters. Those targeting the Buckley Street corridor or streets near Aberfeldie Park on the Maribyrnong River bend should expect strong competition at auction, particularly for properties with four bedrooms or renovation scope under $1.6 million. Pre-auction offers have been a recurring feature of this cycle, and that pattern shows no sign of fading before spring.

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.