Forest Lake Property Market: Steady Demand, Measured Momentum

Momentum is returning to the western corridor, but not in the form of rapid spikes. Instead, Forest Lake and its surrounding suburbs are showing controlled growth, renewed first home buyer activity and sustained demand below the $1 million mark.

Forest Lake’s market is holding firm across all segments, with detached housing continuing to anchor pricing while medium-density stock shows measured upward movement. The suburb remains family-home dominant, with four-bedroom properties setting the benchmark for overall value. Early 2026 results suggest consolidation rather than correction, with pricing broadly stable and selective growth evident in key segments.

On the Ground

Matthew Groves of ilookproperty says the activity across Forest Lake and its neighbouring suburbs reflects a market that is quietly strengthening in key segments.

The on-the-ground experience described above aligns closely with the recorded sales data across Forest Lake and its neighbouring suburbs. Strong demand below the $1 million threshold, limited supply in established complexes, and heightened interest in larger land parcels are not isolated observations — they are reflected in transaction volumes and median pricing across the past 12 months.

To better understand how those dynamics are playing out numerically, the following breakdown examines 2025 and early 2026 results across detached houses, units and townhouses.

The data highlights where momentum is holding, where pricing is edging upward, and which segments continue to define the suburb’s market performance.

2025 Houses: Family Homes Drive the Market Core

In 2025, four-bedroom homes led activity, recording a median of $1.2 million and accounting for the largest share of transactions. Three-bedroom homes remained active below the $1 million mark, while five-bedroom properties achieved a $1.54 million median, reinforcing demand at the upper end. Six-bedroom homes were limited in number but maintained pricing above $1.3 million. Overall, the data reflects a stable, family-focused housing profile with strength concentrated in mid-to-upper brackets.

2025 houses – Click on each line for drop-down details.

2026 Houses (YTD): Stability with Premium End Resilience

Early 2026 sales show continued resilience, though volumes remain seasonally lower. Four-bedroom homes are trading around $1.17 million, holding close to 2025 levels. Five-bedroom homes have edged slightly higher, signalling sustained premium demand. Three-bedroom activity has been limited, making early-year comparisons more volume-sensitive. Broadly, pricing suggests stability rather than softening.

2026 houses – Click on each line for drop-down details.

Units (2025–2026): Entry-Level Segment Edging Upward

The unit market remains compact but firm. Two-bedroom units in 2025 recorded a median of $451,500, with early 2026 sales lifting toward the mid-$470,000 range. While transaction numbers are modest, the upward shift suggests consistent demand for entry-level housing and downsizer-friendly stock. Units continue to represent the suburb’s most accessible price point.

Click on each line for drop-down details.

Townhouses (2025–2026): Mid-Tier Stock Showing Gradual Strength

Townhouses are increasingly positioned between units and detached homes in pricing terms. Three-bedroom townhouses recorded a 2025 median of $795,000, with early 2026 sales moving into the low-$830,000 range. Limited supply continues to underpin pricing, with buyers seeking space without full house-level outlay. This segment is showing gradual but steady strengthening.

Click on each line for drop-down details.

Market Highlight & Emerging Trend

Forest Lake is not overheating — it is holding. Detached homes continue to underpin the suburb’s pricing structure, while units and townhouses are showing incremental lift. Demand remains strongest below the $1 million mark and in larger family-format homes, with limited supply preventing any meaningful softening.

The broader corridor, including Doolandella and Ellen Grove, reinforces this trend. Modern housing stock, improving amenity and renewed first home buyer activity are supporting price resilience across the sub-$1 million segment, while larger land holdings continue to attract strong enquiry. The market is defined less by volatility and more by steady, controlled momentum.

A Market Defined by Measured Momentum

Taken together, both the on-the-ground experience and the recorded sales data point to the same conclusion. Forest Lake and its surrounding suburbs are not experiencing rapid spikes or sharp corrections. Instead, the market is defined by steady demand, selective competition and gradual price resilience.

Detached housing continues to set the benchmark, particularly in the four and five-bedroom segments, while units and townhouses are quietly strengthening as affordability pressure reshapes buyer decisions.

Below the $1 million mark, activity remains competitive, supported by first home buyer participation and limited supply in established complexes. At the same time, larger land parcels in nearby suburbs are attracting renewed interest as buyers look beyond turnkey product toward long-term upside.

The broader corridor, including Doolandella and Ellen Grove, is reinforcing this stability rather than diluting it. Improved amenity, modern housing stock and evolving land opportunities are supporting confidence across the area.

In short, this is a market characterised less by volatility and more by consistency. Momentum is present — but it is controlled, measured and supported by genuine demand.

What Development Applications are going on around your neighbourhood