2017年 04月 25日

Melbourne’s median house price hits record high of $826k

The dream of owning a home is getting more difficult in Melbourne, where the median house price has hit a record high of $826,000. The city-wide median increased 7.6 per cent in the first three months of this year. It is up $55,000 on December’s figure, reflecting the strongest quarterly growth since 2013.

 

“We think one of the key growth drivers at the moment is strong buyer demand, which I guess is driven also by there being low supply to the market place. “Given that’s expected to continue, price growth should continue to rise.” Mr Walton said it was particularly surprising that the increase came in the March quarter, which was traditionally a quiet period compared to the September and December quarters.

 

While there were price increases in Melbourne’s outer, middle and inner suburbs, the growth was driven from the middle suburbs, where the median house price reached $960,000 — a 6.1 per cent jump.

 

Read more: https://goo.gl/ClmxKe
Photo: Internet