Chat with us, powered by LiveChatMelbourne real estate market update

Melbourne real estate market update

A recent REIV report reveals that 15 Melbourne suburbs have either joined or re-joined the million-dollar club.

This club, of which there were 136 members in December 2019, is comprised of those areas that have a median house price of a million dollars or more.

Twelve of the 15 new entrants were on the east and southeast side of the CBD.

With the significant market recovery in the second half of last year, the following suburbs have either re-bounded to or joined for the first time - Red Hill, Box Hill South, Rosanna, Blackburn South, Somers, Burwood East, Flemington, Kingsville, North Warrandyte, Cheltenham, Wantirna South, Moorabbin, Chadstone, Travancore and Cape Schanck.