Property Market Snapshot for Forest Lake

Forest Lake is new to conversations about multi-million-dollar property markets, which is why the results recorded in 2025 deserve closer attention. While top-end sales remain the exception rather than the rule, the year delivered a clear signal that the suburb’s upper ceiling has shifted — with a small number of standout transactions redefining what buyers are now prepared to pay for the right home, in the right street.

2026 will be a massive year for real estate in Forest Lake.

First Home Owner Grants are pushing anything below $1m to $1m and above.

We recently sold 32 Milliken Court for $1.29m, a 4-Bedroom, 2-Bathroom house.
We had previously sold the vendor’s investment unit, and they liked our family-owned business approach so they asked us to sell 32 Milliken. They were fantastic clients as they followed every detail of the advice I gave them to renovate their 1999 built property, including landscaping, adding ducted air-con, tiling, painting and a new kitchen among other changes.

In neighbouring Ellen Grove, there is a demographic change happening before our eyes. It is moving from a market dominated by investors to owner-occupiers.

We have sold 2 properties off market in the last few weeks (and in the process of selling a third), because we have so much pent-up buyer demand, as well as set a new suburb record for a 3 Bedroom Townhouse when we sold 74/8 Milan Street.

Townhouses in Ellen Grove have risen by as much as $200,000 in the last 12 months, there is so much entry-level buyer demand in the Forest Lake and surrounding area.

A Record-Setting Year at the Top End

At the very top of the market, 57 Rudyard Street set a clear benchmark when it sold for $2.27 million in August 2025. It was the only residential sale in Forest Lake to exceed $2 million during the year, sitting well above the suburb’s long-term norms and establishing a new upper ceiling.

Below that standout result, a small but clearly defined upper tier emerged. Five further homes sold between $1.5 million and $1.83 million, including sales at Camberwell Place, Alexandrina Circuit, Boudin Place, Claremont Parade and Peppermint Lane.

These transactions were overwhelmingly large family homes with four or more bedrooms, reinforcing the premium buyers continue to place on space, layout and established residential streets within the suburb.

Zooming out, the broader context is just as telling. The top 19 confirmed house sales in Forest Lake during 2025 all exceeded $1.25 million, highlighting how far the suburb’s upper end has lifted compared with previous cycles — even if those higher results remain selective rather than widespread.

Looking ahead, January 2026 has already delivered two confirmed seven-figure house sales, with 5 Bellthorpe Place selling for $1.46 million and 32 Milliken Circuit settling at $1.29 million.

While both sit below the exceptional peak reached in 2025, they indicate continued depth at the upper end of Forest Lake’s market as the new year begins.

Forest Lake – Top Residential Sales (2025: Rank 1–10)

Forest Lake – Top Residential Sales (2025: Rank 11–19)

A Comparison of Recent Sales

As of press time, the 10 most recent sales in Forest Lake show consistent pricing patterns when comparing similar family homes. 32 Milliken Circuit, a four-bedroom home on a generous 861sqm allotment with a renovated kitchen, alfresco area and pool, sold for $1,290,000, demonstrating the premium buyers are prepared to pay for larger land components and updated presentation.

Further evidence is provided by 5 Bellthorpe Place, also offering four bedrooms and positioned on an expansive 1,125sqm block with high-quality outdoor entertaining features, which achieved $1,460,000. This sale reflects strong demand for larger, well-appointed family homes with lifestyle appeal.

Lower in the market, three-bedroom homes provide useful contrast. 27 Central Street, a more modest cottage-style dwelling on a compact 253sqm allotment, sold for $844,000, while the superior three-bedroom home at 1 Blue Lake Court, offering renovation appeal and direct parkland access, achieved $1,175,000. This comparison illustrates the overlap between high-quality three-bedroom homes and entry-level four-bedroom properties, reinforcing that condition, land size and overall appeal significantly influence value beyond bedroom count alone.

How Features and Presentation Are Shaping Sale Prices

The recent Forest Lake sales shown above illustrate how price outcomes are being shaped by a combination of land size, renovation level and lifestyle features, rather than bedroom count alone.

Among four-bedroom homes, results span a wide range. At the upper end, 5 Bellthorpe Place ($1.46 million) and 32 Milliken Circuit ($1.29 million) both demonstrate the premium attached to larger blocks and substantial upgrades. Bellthorpe Place, set on a 1,125sqm allotment with multiple outdoor entertaining features and a pool, achieved a clear step up from Milliken Circuit, which also benefited from a renovated kitchen, alfresco area and pool but sat on a smaller 861sqm block. Together, these sales highlight how land size and outdoor amenity can materially influence price even when bedroom and bathroom counts are similar.

Further down the four-bedroom bracket, 15 Mannix Place ($1.18 million) and 26 Gippsland Circuit ($1.05 million) show how pricing adjusts where block sizes are smaller or renovations are more selective. Mannix Place achieved a stronger result through inclusions such as a home theatre, pool and powered shed, while Gippsland Circuit, closer to the shopping centre and offering a flexible layout with media room, traded at a lower level consistent with its more compact land holding and standard presentation.

Three-bedroom homes in the infographic provide a useful contrast. 1 Blue Lake Court ($1.175 million) sits at the upper end of this segment, reflecting its renovation appeal and direct parkland access, allowing it to compete with entry-level four-bedroom homes. By comparison, 28 Prospect Crescent ($1.0 million) and 16 Hampstead Street ($941,000) illustrate how quieter streets, modest block sizes and fewer standout features temper price outcomes, even where homes are well presented. At the lower end, 27 Central Street ($844,000) demonstrates the pricing impact of a compact 253sqm allotment, despite refreshed interiors and proximity to parks and schools.

Larger homes continue to attract premiums where they offer flexibility and multiple living options. 84 Claremont Parade ($1.52 million), with five bedrooms, three bathrooms and a dual-living layout supported by extensive indoor and outdoor kitchen facilities, sits at the top of the examples shown, underscoring the value buyers place on adaptability for extended families or multi-generational living.

Across the sales illustrated, certain features recur in the stronger results: renovated kitchens, multiple bathrooms, covered alfresco areas, pools, solar systems and usable outdoor space. Properties such as 9 Norfolk Street ($1.215 million), which combined solar, spa and a large alfresco area, further reinforce how lifestyle inclusions can lift values within comparable bedroom brackets.

Viewed together, the examples in the infographic suggest that buyers in Forest Lake are increasingly weighing overall functionality, land size and presentation alongside bedroom count. For homeowners assessing their own property’s position, the most relevant comparisons are those that align not just in size, but in level of finish, outdoor amenity and street context.

Recent Development Applications in Forest Lake and Surrounds

Published 26-Jan-2026

Disclaimer: The list of properties appearing in this article is provided for illustrative purposes only and is listed as Sold as of press time. Since listing status is dynamic and subject to change, readers are encouraged to verify updated status independently.