Suburb spotlight on: Sandringham, VIC
Who’s got top market share?
Sandringham is one of Melbourne’s upmarket ‘Bayside’ suburbs – a highly sought-after location of beachside living and acclaimed local foodie culture. The CBD is a 40-minute train ride away, giving commuters the perfect balance of vibrant city and peaceful leafy streets. Affluent locals take advantage of running and cycling tracks, dog parks and coffee shops. Sandringham boasts a steady, lucrative market for an office willing to build up loyalty in the area.
Let’s look at the market share in the area. Buxton Sandringham has the highest market share at 38%, followed by Hockingstuart Sandringham at 15%. Hodges Sandringham rounds out the top three with 13%.
According to CoreLogic data, the median house price is $1.8 million, with the most popular property being a four-bedroom house. The average rental rate is currently $850 per week. Families comprise 53% of the population, while the remaining 43% are professional singles. Sandringham is a high demand market, with the past few years seeing a steady rise in house prices as families are attracted by the modern architecture and lifestyle choices.
The perfect ‘bayside’ lifestyle makes this lucrative area a great option for an experienced sales office. Is it the right time to open a Ray White office here? If it’s of interest to you, we can help you build a competitive business. Talk to us today.