News Melbourne Metro property prices still on the increase across all property types.
Melbourne Metro property prices still on the increase across all property types.
New REIV data for the three months ended 31 March 2018 reveals that the median house price in Melbourne’s “middle” suburbs exceeded seven figures for the first time – $1,034,000 – an increase of 4.2 per cent from the previous quarter. Middle suburbs are defined as those suburbs between ten and twenty kilometres from the CBD.
REIV analysis also showed that overall, the median house price across metropolitan Melbourne rose for the eighth consecutive quarter, up 4.4 per cent to $855,000. This represents an increase in the median Melbourne house price of 10.9 per cent over the past twelve months.
Melbourne’s metropolitan apartment median price broke the $600,000 barrier, rising 2.4 per cent to $607,000.
The fact that such a diverse range of properties were sold under the hammer today also illustrates that there are a wide range of buyers looking for a variety of property types, not just a select few.
Today’s Auction results include:
- 63 King Street, Templestowe sold at Auction for $1,290,000
- 2/27 Lynne Street, Donvale sold at Auction for a great price
- 28 Outlook Drive, Doncaster (pictured above) sold at Auction for $1,420,000
- 5 William Street, Donvale sold at Auction for $1,225,000
- 139 Victoria Street, Templestowe sold at Auction for $1,330,000
- 38/123 Main Road, Lower Plenty sold at Auction for $445,000
- 8 Allara Court, Donvale sold at Auction for a great price
- 2/4 Paul Street, Doncaster sold at Auction for $650,000
- 13/508 Blackburn Road, Doncaster East sold at Auction for $542,000
This week's Private Sale results include:
- 49 Berrima Road, Donvale – sold for $1,060,000