Why Melbourne families refuse to sell in these suburbs

Melbourne families are staying in their homes longer than ever as new PropTrack figures reveal some suburbs now record the average hold periods of more than two decades.

The city’s “forever suburbs” stretch from the leafy eastern suburbs to the Mornington Peninsula lifestyle towns and hidden gems in the north and west.

But a real surprise topping the list is Attwood, a suburb near Melbourne Airport, where owners hold onto their homes for almost 23 years before selling, longer than blue-chip Mont Albert, coastal Queenscliff or semi-rural Moorooduc.

PropTrack figures shows Attwood’s average hold period is 22.7 years and Queenscliff on the Bellarine Peninsula at 19.9 years.

Other suburbs held for more than 19 years include Clarinda, Wattle Glen, Lower Plenty, Mont Albert and Hughesdale.

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78 Ardlie St, Attwood sold for $1.327m in early September this year.

7/31-33 Tully Rd, Clarinda sold for $730,500.

Barry Plant Gladstone Park agent Aaron Taranto said the figures confirmed what Attwood residents had known for years.

“Attwood has always carried a certain mystique. Once you’re in, you’re in – people just don’t want to leave,” Mr Taranto said.

“Every neighbour I speak with says the same thing: if I sold, where could I possibly go that’s this quiet, this safe, this beautiful? There’s a deep pride of place here.

“Both Cambridge and Alanbrae estates are incredibly exclusive – homes rarely come up. You drive into Attwood and it’s like stepping into a different universe.”

Mr Taranto said the suburb’s appeal came down to lifestyle and security.

“There’s virtually no crime, the streets are spotless, and the community is tightly knit,” he said.

“You’ve got easy access to the city, strong local amenities and quick freeway link, it’s the perfect balance of seclusion and convenience. Why would you leave when everything you want is right here?”

Barry Plant Gladstone Park agent Aaron Taranto.

Prominent Melbourne buyers advocate Cate Bakos said long hold periods were no accident.

“I look for these qualities for families, because a long tenure bodes well both financially and emotionally,” Ms Bakos said.

“You avoid moving costs and stamp duty, but more importantly you lay down roots and love where you live.
“Attwood’s low turnover and neighbourly feel means residents are reluctant to move.
“These are the suburbs where you still see street parties at Christmas, they’re really hard to leave.”

Ms Bakos said lifestyle locations such as Queenscliff and Ventnor offered a similar allure but could be polarising.

“They’re beautiful, but some buyers find the distance or upkeep challenging. For others, it’s the dream,” she said.

Melbourne buyers advocate Cate Bakos.

Ms Bakos said Lower Plenty and Wattle Glen reflected a generational story.

“Many of these estates were built in the 1970s and 80s, so the families who moved in then are still there,” Ms Bakos said.
“If you grew up in Lower Plenty, chances are your parents still live there. That history creates a loyalty that’s hard to replicate.”

“Mont Albert is the classic example of people only leaving if they had to. Everyone wants to stay in Mont Albert. The only reasons people go are for upsizing, downsizing or financial pressure. Otherwise, who wouldn’t want to live there?”

But Baby Boomers holding on longer was adding pressure for younger buyers, Ms Bakos said.

“Boomers don’t want to be hit with eye-watering stamp duty. If you bought a house for $15,000 in 1974 and it’s now worth $3m, downsizing means handing a big chunk of that to the government,” she said.

“That’s why many are reluctant to move, and why younger families find it harder to break into these markets.”

Mortgage Choice Greenvale broker Rebecca Stella.

Mortgage Choice Greenvale broker Rebecca Stella said many people dreamt of walking straight in to their forever home, until the financial reality set in.

“TikTok and Instagram set these glossy standards and make buyers want the forever home straight away,” she said.
“Sometimes that means overextending themselves financially, but affordability pressures are also at play.

“People often say, ‘We’ll wait until rates come down.’ But when rates fall, prices rise, and so does stamp duty,” Ms Stella said.

“Families think they’re waiting for the perfect moment, but costs usually end up higher.

“That hesitation to upgrade is adding to the long hold periods we’re seeing.”

That means long-term residence in areas such as Mont Albert and Lower Plenty would tap into equity to renovate rather than selling.

Top 10 Forever Suburbs

Metro:

Attwood – 22.7 years

Clarinda – 19.8 years

Wattle Glen – 19.7 years

Lower Plenty – 19.6 years

Mont Albert – 19.4 years

Hughesdale – 19.3 years

Vermont South – 19.1 years

Regional Victoria:

Queenscliff (Bellarine Peninsula) – 19.9 years

Ventnor (Phillip Island) – 19.3 years

Source: PropTrack August 2025 Market Trends.

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david.bonaddio@news.com.au

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