An interesting article by Realestate.com.au recently revealed that the median value of almost 280 suburbs across Australia grew by over $205,000 in the past year, according to research by Proptrack.
While median prices in Melbourne have only changed marginally in comparison to Sydney, Brisbane, Perth and Adelaide, there were six Melbourne suburbs that enjoyed significant increases to their median prices over the past year.
Topping the list for Victoria in 14th place nationally were units in Ivanhoe East. The median price of Ivanhoe East units grew by a whopping $566,000 to reach $1,292,500.
Caulfield topped the list in median growth for houses, increasing over $448,000 in the past year to reach a median house price of $2,335,000.
Seaholme median house prices were up $320,000 to $1,420,000 with Middle Park houses close behind, increasing $315,000 to $2,800,000.
Melbourne’s six big movers and shakers were rounded out by Ivanhoe and Ivanhoe East. Ivanhoe median house prices rose $220,000 to $1,670,000 while Ivanhoe East houses shot up $217,500 to $2,307,500.
Glenard Drive Ivanhoe East. Image Source Wikipedia. Photo credit Philip Mallis
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By Wendy Chamberlain
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With a passion for all things real estate spanning over 20 years, Wendy loves that her role as a Buyers Agent or Sellers Advocate gives her buying and selling clients an experienced voice they can trust when it comes to negotiating to buy or sell something as important as their home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.chamberlainadvocates.com.au for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.