RESIDENTIAL PROPERTY
AFFORDABLE options across metropolitan Melbourne and regional Victoria are proving attractive to buyers in what is now a “balanced” market, and the pockets of Greater Geelong...
According to the Real Estate Institute of Victoria (REIV)’s data for the June quarter, Victoria’s median metropolitan house prices fell 1.5% in the June quarter and...
REIV president Jacob Caine told Australian Property Journal the core drivers of price stability in Victoria relate to the level of supply and demand...
Those areas that have experience growth may present affordable alternatives to metro markets or other bigger regional markets, whilst still offering or boasting high-quality amenity and...
The trend that we’ve observed over the last financial year is buyers moving from the centre of the big regional centres, from the inner regional centres, to the outer suburbs...
Buyers are increasingly looking at places like Woodend near Kyneton rather than in Kyneton, Norlane rather than Geelong, and Elmore outside of Greater Bendigo than the city centre...
Three suburbs in Greater Geelong saw double digit growth, led by Little River (up 20.4% to $1,505,000), Indented Head (up 10.3% to $955,000) and South Geelong...
Meanwhile in Melbourne, the western Melbourne municipalities of Melton and Brimbank outperformed the market. Four Melton suburbs were among the top 20 for...
Suburbs in Melbourne’s west, like Melton, Kurunjang and St Albans continue to offer very attractive, affordable houses,” Caine said...
The median price in St Albans sits around $670,000. When you compare that with suburbs not too far away – say Keilor East, at around $1,079,000 for a house...
Melbourne’s top five most affordable suburbs were also in Melton, with Melton ($474,500) the most affordable, followed by Melton South ($481,000), Kurunjang ($490,000)...
Middle Melbourne stood out for annual price gains in FY24. Eltham rose 9.4% to $1,300,000 on its median house price while Glen Waverley was up 8.5% to $1,770,500...
Both transaction volumes and auction volumes increased on the previous year. FY24 saw 39,110 auctions, a 25.5% increase, while property sales lifted 10.8% to 156,550.