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Melbourne market at “all time high”



Statistics from the latest REIV quarter release have indicated that the Melbourne’s median house price has increased to almost $730,000 in the three months to September 30.

REIV CEO Enzo Raimondo said the $729,500 median* is the highest ever and was up from $706,000 in the June quarter.

Strong auction numbers in the Winter period have thought to have played a part in boosting such elevated house prices.

Typically with strong growth, buyer confidence is suggested to be a key attribute whereby high auction numbers, solid clearance rates and low interest rates are all contributing to potential buyers’ willingness to enter the market.

Melbourne’s top growth suburb for September 2015 quarter is Brighton, followed by Dromana and Seaford.

 

198-Centre-Dandenong-Road-Cheltenham-VIC-3192-Real-Estate-photo-1-large-9567364

The median house price for Melbourne will buy you a property like this 3 bedroom brick and tile home in Cheltenham, which sold over the weekend for $740, 000 according to propertyDATA.com.au

 

 

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