Homes located within the catchment for some of Melbourne’s best public schools are achieving six-figure premiums, compared to neighbouring properties which fall just outside the zone.
Bridesmaid suburbs bordering some of Melbourne’s most exclusive neighbourhoods are offering buyers the opportunity to purchase a house for a fraction of their median price.
Increased market participation by owner-occupiers has boosted the price of larger homes across the city.
A record number of sales under the hammer has delivered Melbourne’s strongest property market in seven years, despite modest growth in median prices in the last three months of 2017.
Price growth has been widespread across Melbourne in recent years; however the city’s west and north continue to offer affordability.
While Melbourne’s property market experienced strong price growth in 2017, new REIV data reveals there are still affordable opportunities within 20km of the CBD.
New REIV data shows that one in three Melbourne suburbs now have a median house price of at least $1 million.
The REIV has launched an online petition calling on the Andrews’ Government to amend proposed changes to Victoria’s rental laws.
Analysis of new REIV median house price data shows savvy buyers can save a six-figure sum by purchasing in the next suburb along the train line.
Two-bedroom houses continue to outperform all other property types in terms of both growth and price, as affordability sees a shift away from the traditional home.