Balwyn North median house price drops to 2015 levels
Balwyn North, renown in recent times for its French chateaux style home construction spree, has seen its median house price drop back to 2015 levels.
It now sits at $1.6 million, according to CoreLogic, where it was in 2015.
The median house price has dropped drastically since peaking at $1.95 million mid-last year.
To see the latest Balwyn North house price data, click here.
But Balwyn residential properties have more recently become known for its knockdown rebuilds, often copying the châteaux of France with their facades.
Balwyn North was one of the first Melbourne suburbs to be developed according to the pattern of postwar suburbia, with expansive, quiet residential areas designed as family homes and relatively few business districts.
Consistently among Melbourne's top 20 most exclusive postcodes, Balwyn North's status as an affluent suburb has seen middle to upper-middle-class families from surrounding localities transfer to the area to take advantage of the suburb's relatively large block sizes and proximity to some of Victoria's best private schools including those in the neighbouring suburbs.
