PropTrack: See what your suburb will be worth in 2030 – some Melbourne areas set for massive six-figure growth

Family-friendly Melbourne suburbs are projected to lead the city's charge for home price growth, with six-figure bonuses tipped for house values over the next five years.
Dozens of areas including Lower Plenty, Diamond Creek, Beaconsfield, Romsey and Mentone are set to outperform blue-chip areas like Toorak within the time frame, based on PropTrack estimates.
Realestate.com.au's research arm has calculated the typical home value for each Victorian suburb and town in 2030, if growth follows the same patterns it has within the past half-decade.
The data shows Toorak's $4.71m median house price is set to increase by $220,000.
But it would be eclipsed by gains of more than $350,000 in medians from Aberfeldie to Hurstbridge.
The city's million-dollar club is also expected to swell with more than 50 new suburbs including Taylors Hill, Berwick, Heidelberg Heights, Altona North and Reservoir to be added.
Melbourne-based buyers' advocate Emily Wallace said the family-friendly suburbs' growth forecast would reflect a domino effect of people wanting more land moving further from the city.
'I don't necessarily mean first-home buyers, but family home buyers who are happy to go to the suburbs to get the yard for the kids,' Ms Wallace said.
She said school zones, crime rates and safety were top of mind for many home seekers.
'There's also a fair amount of people not wanting the areas of the activity growth zones where development could potentially ruin the look and feel of a suburb,' Ms Wallace said.
Since last year, the Victorian government has identified more than 60 areas for mid- and high-rise development, many close to train and tram zones, to address the need for more housing with Melbourne's population predicted to hit 6.2 million by 2030-31.
Real Estate Institute of Victoria president Jacob Caine said the activity centre plans could make areas like Brighton accessible for buyers who would otherwise be locked out of these markets.
'You can bet that young people out there that have been really struggling to get a foot on the property ladder would absolutely jump at the opportunity to have a little piece of paradise, whether that's in Brighton or Camberwell or Footscray or wherever they would like to live,' Mr Caine said.
According to PropTrack, Melbourne's future high-performing suburbs include Lower Plenty where the $1.578m median house value is expected to increase by $887,000 to hit $2.465m.
Diamond Creek's $1.1m median is slated to stack $513,000 on to reach $1.613m.
Ray White Eltham and Diamond Creek director Shane Leete pointed to a 2019 list of Melbourne's family-friendly suburbs put together by home loan platform Lendi that was topped by Diamond Creek, based on factors including the number of schools, open spaces and crime data.
Mr Leete said the suburb experienced massive growth during 2020 to 2022's pandemic lockdowns and then slowed.
But February's rate cut and last week's election have boosted confidence in the market.
'But over … the next two to three years prices will be back up to where they were in 2022,' Mr Leete added.
Overall, Greater Melbourne's current $855,000 median house price is forecast to hit $1.001m by 2030, lower than Brisbane's $1.54m and Adelaide's $1.474m.
PropTrack's economics executive manager Angus Moore said Victoria's capital had not experienced as much growth as Australia's other states within the past five years.
'Part of the story is the fact Melbourne does just build a lot more homes than other parts of the country, particularly out in Melbourne's west,' Mr Moore said.
'The fact that there is more supply has helped to keep housing more affordable.'
PropTrack's research, which projected growth based on trends over the past five years, also hinted there could be prices rises along the Mornington Peninsula — however this could have been skewed by the unprecedented boom during the Covid pandemic.

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ABC News

40 minutes ago

• ABC News

West Australian marine business actively considering bid for Darwin Port

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SBS Australia

2 hours ago

• SBS Australia

'Berserk' factories, debts and excuses: Suppliers of collapsed Australian fashion giant speak out

Annabell Mihic (left) and Jayson Haydon say Mosaic Brands' inability to pay their invoices on time had mammoth impacts on their businesses. Source: Supplied There will be more to come on the collapse of Mosaic Brands in Dateline's two-part investigation, The Cost of Doing Business, coming soon to SBS and SBS On Demand . Annabell Mihic loved fashion. In 2001, while pregnant with twins, she set out to make her dream a reality, launching her first clothing business, Faith Fashion, with just $600. By 2014, she'd found success working with factories in Bangladesh sourcing designs, fabrics and clothes for retail companies Pretty Girl Fashion Group and Specialty Fashion, owners of some of Australia's major heritage brands such as Noni B, Katies, Rockmans and Millers. "I picked up my children from school, every mother was wearing a pair of jeans from Rockmans in a different colour, and a sweater or knitwear that was just beautifully created by the team," Sydney-based Annabell told Dateline. Jayson Haydon, also in Sydney, was another riding the high of Australia's booming fashion scene with his company On Trend. Focusing on factories in China, he was also supplying Pretty Girl Fashion Group and Specialty Fashion, making clothes for brands such Noni B, Rockmans, Autograph, Millers and W-Lane. "We would have to get all of the patterns made — everything that they needed — in China, all the trims, the buttons, the zippers, the cottons, whatever, for the garment supply," he told Dateline. "We had to make decisions in 10 minutes for $10 million. I just enjoyed all those aspects of it." Annabell and Jayson were among a handful of Australian entrepreneurs pioneering offshore manufacturing at a time when the country's fashion industry was experiencing rapid growth. Known as buying agents, they'd become essential middlemen to a new kind of supply chain, helping to connect big retailers with offshore garment factories to deliver high quantities of good-quality, low-cost clothes to Australian consumers. It was a ticket to success. Jayson said his business "grew and grew and grew". "The first year in 2010 our turnover was $17k ... by 2012 it was about $3 million and about $5.8 million the year after that." "If On Trend was famous for anything, it was always on time, good quality, no drama, good communication and honesty." But Annabell and Jayson say things started to unravel for them after a new retail giant started to emerge from 2014, when Scott Evans, a retail executive and Richard Facioni, a former Macquarie Group banker, joined forces to buy up the fashion companies Annabell and Jayson once supplied. With backing by the financier Alceon Group, Evans and Facioni first bought Noni B, becoming its CEO and chairperson respectively. 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Annabell Mihic But it didn't stop there. Annabell says her terms were later extended to 200 days and, in some circumstances, more than 300 days — meaning it was almost a year before she would receive payment for the goods she supplied. The Council of Small Business Organisations Australia has advocated for 30-day payment terms as an industry standard for small businesses, arguing it's crucial for their financial health. This extension of payment terms placed enormous pressure on Annabell's supply chain. The factories she worked with overseas, their workers and material suppliers were all now waiting longer to get paid too. "It's a vicious cycle," Annabell said. "I can't give the money to the factories. [Which means] the factories can't open letters of credit [with their banks] for the goods that they are going to make. It was a nightmare." Annabel and Jayson say they signed up to Mosaic Brands' terms because the group now owned all the brands they supplied. Jayson said the situation placed incredible pressure on his business and the factories he worked with, which refused to supply him the goods he needed without payment. "You have to dance with your finance company ... so they understand you're under duress. "Factories go berserk ... trying to hold you [to] ransom." Factories go berserk ... trying to hold you [to] ransom. Jayson Haydon These lengthy payment terms benefited the buyers like Pretty Girl Fashion and latterly Mosaic Brands by freeing up cash for their business. But multiple sources from within the fashion industry told Dateline these extended payment terms are untenable in an industry that relies on garment manufacturers taking on huge upfront costs to kickstart the production process, placing too much pressure on businesses throughout the supply chain. One industry insider said Mosaic Brands' extended payment terms: "have given the Australian fashion industry a bad name". Come 2018, Annabell and Jayson told Dateline, they stopped being paid on time. Invoices with already-stretched payment terms would fall due, and they still would not see any money. When Annabell chased her payments, she received various excuses. "They couldn't find the invoice, the invoices weren't matching ... We used our own forwarder, they couldn't find [the invoice]. We used their forwarder, they still couldn't find it," she said. Freight forwarders are a crucial link in the supply chain who help facilitate the movement of goods from origin to destination and, in turn, trigger when a payment should fall due. Annabel and Jayson said they found themselves in a cycle that ultimately ran them into the ground. They had mounting interest and debt with financiers, while factories and suppliers in Bangladesh and China were chasing them for their own payments. In response to their desperate requests to be paid, Annabell and Jayson said they were met with endless excuses from Mosaic Brands. Annabell said she felt financially intimidated, trapped and like she was to blame. "Nothing about how I have been treated has been normal to me. I don't feel that any other retailer, Australian or international, that I've worked with has ever done that." I don't feel that any other retailer ... that I've worked with has ever done that. Annabell Mihic By 2020, Jayson said Mosaic Brands owed him $8 million in unpaid invoices. The following year, in 2021, he was forced to put his company On Trend into voluntary administration and ultimately, liquidation — selling everything he could to cover his debts in Australia. But he could never pay back the companies he owed money to in China. "If I won Lotto, I would just give 'em the money. But I don't have that sort of money. US$6 million is a lot of dollars and ... I'd already sold everything. I sold cars ... anything that I could liquidate. I just kept my home, " Jayson said. He added that some of the factories in China were able to recoup their money through insurance, but others went under. Dateline sought comment from Evans, Facioni and Softa, but they all declined. A year after Jayson, Annabell lost everything too. In 2022, she placed her business Faith Fashion into liquidation. For Annabell, things reached their worst when she was owed around US$8 million in unpaid invoices for goods supplied to Mosaic Brands. "It's not my money, I'm just a glorified bank; I was the agent. It's the factories, it's the people that made the clothes. It wasn't my money, I let them down," Annabell said, crying as she recalled the responsibility she still feels. It's the factories, it's the people that made the clothes ... I let them down Annabell Mihic To this day, she said she's still owed US$200,000 in missing unpaid invoices. Both Annabell and Jayson said Mosaic Brands' inability to pay their invoices on time was one of the main reasons they lost their businesses. Dateline has spoken to multiple suppliers to Mosaic Brands, not just in Australia but in China, Bangladesh and India, who all said they faced similar payment delays and mounting debts. At least one factory owner in Bangladesh, one agent in China, and one factory in India say they have also lost their businesses due to Mosaic Brands' late payments and related issues. It's cost hundreds of jobs — and income for many more family members. Several other large and mid-size factories spoken to in Bangladesh, which employ thousands of local workers, say they are now also on the brink of collapse. Last week, administrators for Mosaic Brands issued a preliminary finding that the company may have been operating while insolvent for four years before the company's collapse. Insolvency is when a company can no longer pay its debts and it's illegal to trade under these circumstances, according to the Corporations Act. There are serious penalties for allowing a company to trade while insolvent. Mosaic Brands' directors are yet to comment on the findings of the report. However, the report acknowledges that the directors sought to rely on safe harbour and COVID-19 provisions at times. If established, these protections could amount to a defence against any potential director liability for trading whilst insolvent. A release issued on behalf of the Mosaic Brands board of directors last year, in response to previous reports the company had been using safe harbour protections, said its directors take their duties seriously, and did seek advice on the applicability and compliance with the safe harbour provisions. For Annabell, the FTI's latest report doesn't go far enough. "This failure did not begin with COVID. It began in 2018, when Mosaic acquired Specialty Fashion Group — a large and aggressive expansion that placed enormous pressure on cash flow and supplier relationships," she said. "What happened to me — and to so many other suppliers — was the result of sustained financial mismanagement ... and decisions that transferred risk down the chain while protecting those at the top." Annabell said she raised her issues with the Australian Competiton and Consumer Commission (ACCC), Small Business Ombudsman and Australia's Securities and Investments Commission (ASIC) as early as 2019, which all amounted to nothing. She said the outcome has been a bitter pill to swallow. "We are not collateral damage. We are the people who made this supply chain work. We fulfilled contracts. We trusted in good faith — and we were left unpaid." Dateline contacted the ACCC, which said it currently has a matter before the courts with Mosaic Brands anad does not comment on complaints or potential investigations. The Small Business and Family Enterprise Ombudsman said it can't comment on the detail or outcome of individual cases. It also said the information Annabell Mehic provided them at the time helped "the advocacy work undertaken by ASBFEO on the Payment Times Reporting Scheme and our advocacy for improved payment times to help cashflow issues". An ASIC spokesperson said they are aware "that Mosaic Brands Limited went into external administration in October 2024 and of the Report to Creditors issued by the external administrator, FTI Consulting, on 13 June 2025 and they continue to monitor the matter". Watch now Share this with family and friends

Daily Telegraph

2 hours ago

• Daily Telegraph

Empty Airbnbs fuel Sydney's rental crisis

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