Templestowe Waterfront Suburb Builds Price Momentum

Median house prices in Templestowe's Harbourview suburb hit $1.52 million in the June quarter, up 11 percent from the same period in 2025.

The increase comes after the Templestowe City Council approved new waterfront zoning rules in February that allow limited higher-density projects along the shoreline. Buyers from outside the immediate area have started to compete for properties that sit within walking distance of the water, pushing some listings above the $2 million mark for the first time since 2023.

Local streets and projects driving interest

Harbourview sits along the eastern edge of Templestowe's coastline. Properties on Ocean Drive and the lower section of Bayview Road have recorded the strongest gains, with three homes on Ocean Drive selling above asking price in May alone. The Templestowe Marina, located at the southern end of the suburb, completed a $4.8 million upgrade to its public berths in late 2025, adding 28 new spots for smaller vessels. Further inland, the Templestowe Waterfront Association launched a grant program in April that funds minor repairs to older waterfront homes, drawing first-home renovators who previously looked elsewhere in the city.

These changes sit alongside the Templestowe Coastal Preservation Program, which restricts new building heights within 200 metres of the high-tide line. The program, active since 2024, has kept supply tight while demand from downsizers and small investors continues to rise.

Sales figures and buyer patterns

CoreLogic data released on 8 July show 47 settled sales in Harbourview over the past 12 months, compared with 39 in the prior year. The median time on market fell to 22 days. Waterfront lots on Bayview Road fetched an average $1.78 million, while similar-sized blocks two streets back averaged $1.31 million. Auction clearance rates in the suburb reached 78 percent in the June quarter, above the city-wide figure of 64 percent.

Buyers now face limited stock heading into spring. Agents report that four waterfront listings scheduled for August auctions already hold expressions of interest above reserve. Prospective purchasers should check flood overlays on any property within 150 metres of the shoreline and review the latest Templestowe City Council planning maps before making an offer. Early inspection of the Templestowe Marina precinct remains the quickest way to gauge current street activity.

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.