Prices in Victoria continue to rise
If chasing the great Australian dream is one of your new year’s goals, Melbourne is a key market to consider. This quarter, the median house price grew to more than $795,000 and unit prices also grew healthily with a median price just under $460,000.
While it’s likely that property prices in the capital will continue to increase, the rising market still remains more affordable than its neighbour, Sydney.
It also holds potential for those who have been struggling to save a lump deposit, as record levels of new construction and investor activity create opportunities for home hunters and investors alike.
Median property price
December 2016 QoQ Growth