That’s certainly further positive news for homeowners in the northern corridor of Melbourne who may be thinking of making a move in the early months of 2024.

That’s why I thought this might be a timely opportunity to look at the latest property price data from PropTrack as we take an overview of what has happened over the past twelve months. When you consider the number of forecasters who were predicting price falls at this time last year, the numbers confirm just how resilient our local market is.

PropTrack’s data indicates that prices rose in 218 suburbs across Melbourne over the past year, with 50 of them recording rises that outpaced the average Australian income.

Among the key points that emerged from this data were:

• Median house prices in Thomastown rose by 0.96% over the year to December, reaching a new median price of $690,106. The median price for a unit in Thomastown cam in at $504,577, an annual change of just 0.05%.
• Units in Lalor recorded a more substantial increase of just under 1%, hitting a median price of $521,222.
• Houses in Epping recorded a rise of 0.78% over the year, hitting a median price of just over $673,150. Units in this area were even more impressive, recording an increase of 2.5%.
• The median house price in Wollert was another pleasing performer, rising by 1.81% during the year to reach $693,329.
• Over in Reservoir, the median house price lifted to $876,017, an increase of 0.51%.

Of course, this is only a sample of the figures from the City of Whittlesea and surrounding areas. So if you’d like an update on what your own property could achieve as we head into 2024, don’t hesitate to give our team at Barry Plant Thomastown a call this week on 9466 3233.

Cheers,

Con Constantinou

Barry Plant Thomastown