From a real estate point of view back then, we were all studying the predictions of various economists who were convinced that property prices were about to fall through the floor and stay there for years.

As we mentioned in LAST WEEK'S POST, Melbourne’s median house sale price has actually increased markedly in the past year, with the typical house in our city recording an 8.8 per cent increase over the past quarter alone. But we thought you might be interested in how the numbers have tracked at a local level, as that is clearly of more interest to anyone who owns a property in the City of Whittlesea.

For example, the same set of data from the REIV that indicated the growth above showed that over the past year, the median house price in Thomastown has increased by 9.8 per cent, outpacing many other suburbs in Melbourne. The growth figure for Lalor over the past 12 months came in at a very respectable 6.7 per cent, whilst nearby Epping recorded an annual growth rate of 6.2 per cent.

The fact that property in our part of Melbourne has been able to sustain these types of numbers despite the challenges of the pandemic shows just how resilient our housing market really is, which is great news for anyone who owns a local property or who plans on purchasing one in the near future.

Of course, the most important ingredient in making sure that you maximise your sale result, no matter when you decide to sell, is to get experienced and informed advice from some who knows the local property market intimately.

So, if you are considering making a move in Melbourne’s north in 2021, and want to make sure that you achieve a result that really gets the neighbourhood talking, be sure to give us a call at Barry Plant Thomastown this week on 9466 3233.

Best wishes,

Con Constantinou

Barry Plant Thomastown