Chat with us, powered by LiveChatBrimbank house prices climbing

Brimbank house prices climbing

The City of Brimbank house prices have steadily increased in the past year, latest figures show. The Real Estate Institute of Victoria’s annual figures for suburbs with more than 30 sales in each quarter showed median house prices rose in all suburbs.

Prices in Albanvale, Deer Park and Sunshine West rose by more than 12 per cent on the 2009 December quarter, with Albanvale recording a 15.8 per cent change. St Albans and Taylors Lakes also recorded increases of more than 8 per cent. Hillside and Sunshine had the smallest rise - less than 2 per cent.

While the annual change has seen house prices rise in Brimbank, median prices are lower than the September 2010 quarter.

Taylors Lakes’ Barry Plant sales manager David Lussi said he expected to see more drops in property prices.

“My opinion on the next few months will be prices in the area will plateau,” he said. “If it wasn’t for the fact that banks have closed down on lending we probably would have seen substantial rises all over Melbourne.”

Local suburbs had done “consistently well” for several years, Mr Lussi said.

“There is always a constant supply of people looking (to buy) in this area.”

Source: Brimbank Leader Newspaper