The REIV were finally able to report positive median price growth across Victoria’s metropolitan and regional property markets during the March quarter, something Victoria hasn’t experienced since December 2021.
Following declines in the December 2024 quarter, March saw median house prices rise 2.7% and 1.2% respectively in metropolitan and regional Victoria. Units and apartments also rose 0.9% (metropolitan) and 2.1% (regional) marking the first time that all four segments have increased simultaneously since December 2021.
The highest quarterly house price growth was seen in Port Melbourne (+18.6%) and Melton South (+8.3%) while units and apartments in Mordialloc (+26.9%), Preston (+20.8%) and Yarrawonga (+18.8%) also topped the charts.
The suburb recording the highest median prices for both houses and units/apartments during the March quarter was Brighton, at $3,325,000 and $1,355,000 respectively.
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