September Quarter 2016 Median Prices

The REIV’s latest quarterly results show a positive market for vendors in Melbourne – with solid price growth, high clearance rates and strong buyer demand.

Melbourne’s inner and middle suburbs were the main growth drivers in the September quarter with house prices in these regions up 4.2 and 3.5 per cent respectively.

REIV CEO Geoff White said that the top growth suburbs were widespread across the city – from Seaford in the outer south east to Williamstown and Werribee in the west.

He added that unit and apartment prices also increased across the city, up 2.1 per cent to $545,500. 

Regional Victoria remained stable with the median house price increasing 0.4 per cent to $348,500.