'You can’t lose in the long term': Canterbury, the suburb with over a century of prestige to its name

It’s a suburb that has been occupied by the well-to-do for more than 100 years and today it’s among Melbourne’s truly prestigious addresses. With a median house price of $2.25 million, Canterbury ranks in the city’s highest-priced suburbs alongside Toorak and Middle Park.

The tree-lined thoroughfare of Monomeath Avenue plays host to some of the suburb’s most expensive properties.

Connecting Mont Albert and Canterbury roads, the oak-lined avenue has been home to many of Melbourne’s business and political elite.

Today’s residents include Ron and Carol Minogue, parents to Kylie and Danii, ex-footballer and head of Brown Property Group Fraser Brown and founder of luxury home builder Englehart Homes Ron Englehart.

Inner-city sanctuary

Englehart moved to Canterbury from an acreage property in Templestowe in 2000, drawn by the schools and the proximity to the city.

“It’s a functional, convenient location and I love the leafy feel,” he says. “At the time we were building three spec homes in Canterbury so
we decided to keep one for ourselves.”

Englehart and his wife Fran are so happy in the suburb that when it came time to upgrade, they bought the house across the road and built a new home, moving in a month ago.

“You can’t lose in the long term in this street,” says Englehart. “People want to live in a quality product in a quality suburb. The demographic here is successful business people looking to upgrade in the inner-ring suburbs. From an investment point of view there’s greater appreciation in these inner areas.”

A safe investment

Jellis Craig founding director Alastair Craig lived in Canterbury for 33 years. Born and bred in neighbouring Camberwell, Craig says it was an easy decision to buy in an area that offers a combination of period and contemporary homes within easy reach of parkland, top schools and public transport.

“It’s a conservative suburb, very leafy and green, and for me it’s always been close to work,” he says. “The area holds its value very well. If you drive around Canterbury at the moment, you’ll see a number of houses being renovated and new homes being erected.

“I think if people have a large parcel of land they feel confident to invest in it – it’s difficult to over-capitalise in the long-term.”

Craig says there have been plenty of notable sales in the suburb, many sold off-market and undisclosed. The suburb’s record price was set
in 2015, when a Monomeath Avenue home sold for $13.188 million.

Top home in the area

Inspired by the work of Frank Lloyd Wright, this modern home is wrapped in landscaped gardens and comes with an enclosed, heated pool.

There are two generous living areas on the ground floor, both oriented to take advantageof a northern aspect, as well as an upper level retreat.

Jellis Craig & Company are marketing the property with a $4.6 million-to-$5 million price guide.