The numbers don’t lie — Forest Lake and its neighbouring suburbs are holding firm at elevated price levels. Resilience defines this market right now — and the median figures across Forest Lake, Ellen Grove, Doolandella and Pallara prove it.
Quick Links:
- Top 5 House Prices in Forest Lake in the Recent Month
- Forest Lake & Surrounds Property Market Commentary
- What’s My House Worth?
- Properties for Sale – Recent Listings
- A Deeper Dive Into the Numbers
- What Development Applications are going on around your neighbourhood
Market Overview
House prices across the Forest Lake corridor remain firmly anchored at elevated levels. Forest Lake continues to lead the established suburbs, with four-bedroom houses holding around the $1.2 million mark and five-bedroom homes reaching $1.4 million or more. Pallara is also performing strongly, with four-bedroom houses sitting around $1.15 million and reinforcing its position in the upper tier of the local market.
Doolandella is tracking closely behind, with four-bedroom houses also holding near $1.2 million and larger homes moving into the low $1.2 million-plus range. Ellen Grove remains the more accessible entry point, with four-bedroom houses sitting near $1 million while still benefiting from the strength of surrounding suburbs. Overall, the data points to a market consolidating at higher price floors rather than showing sharp volatility.
Meanwhile, the market for apartments/townhouses and units across Forest Lake, Ellen Grove, Doolandella and Pallara tells a slightly different story from detached housing, with prices sitting within tight bands and buyer demand remaining steady.
Overall, the figures suggest that townhouse prices across the four suburbs are remarkably consistent, generally clustering between $750,000 and $775,000, reinforcing their role as the key entry point for buyers seeking family-sized accommodation in the area.
Trend Direction
What stands out most over the last three months is not volatility, but resilience. Detached homes are holding steady across all four suburbs, and townhouse pricing is tightly grouped with little sign of downward pressure.
Pallara and Forest Lake continue to command the upper end of the market, Doolandella shows strong liquidity in its townhouse segment, and Ellen Grove maintains its position as the value-driven alternative.
As the auction for 123 Bagnall Street in Ellen Grove moves nearer, it will be a great test of what 10,000+ square metres is worth in an area that is evolving rapidly. The house is unliveable but with over a hectare of land, this property will sell very well and as i write, I am delighted with the interest shown so far and we will be hoping to sell under the hammer on March 7.
Our recent sale at Panda Close in Doolandella was a complex record, it sold after 2 Open Homes for $780,000, $50,000 more than the previous highest price achieved in the complex. Surprisingly it sold to an investor, I say surprisingly because the first home buyer market has really taken off since October last year when the 5% deposit scheme was introduced for first home buyers. This has had an immediate impact on increasing house prices under the $1m mark.
I hear a lot of vendors say they would like to move but they have a list of things they want to do to their house first. Sometimes that list is not the same list that would get the best price on the market, we have a team of trades that work with us, and so it’s really easy to create the right to-do list and have it priced in preparation for sale, saving you money and hopefully doubling or trebling your return on that spend. Depending on the property, new carpet and paint for $10-15,000 can generate $50,000 in this market. I’m a big fan of red mulch and colour in a garden bed, it can make a big difference in the photography of the property.
What’s My House Worth?
Properties for Sale – Recent Listings
Below is a snapshot of recent listings on Forest Lake, Ellen Grove, Doolandella, and Pallara, revealing a diverse market with varied price points and configurations. While broader trends suggest price growth, these listings demonstrate the actual inventory available, from family homes to high-value estates.
A Deeper Dive Into the Numbers
Over the past six months, the Forest Lake corridor property market has shown steady, disciplined growth rather than rapid price spikes. Comparing three-month medians with six-month benchmarks reveals a pattern of gradual upward movement across both houses and townhouses.
Detached homes in Forest Lake, Pallara and Doolandella continue to anchor the market at higher price tiers, while the townhouse segment is tightening into a narrow pricing band driven by consistent buyer demand. The data suggests a market that is consolidating at stronger price floors, with modest gains of roughly $10,000 to $30,000 across many segments rather than sharp volatility.
Below are the median comparisons between houses and apartments, 3 months vs 6 months.
Some Development Applications in Forest Lake and Surrounds
Click on the pins to view the details. Click +/- to zoom in/out.
Published 27-February-2026. Data obtained from publicly available sources as of presstime.
