Melbourne’s strong spring market is on track to challenge an all-time auction record this weekend when 1,683 homes go to auction.
The Real Estate Institute of Victoria has announced that Geoff White has been elected President for 2015-16.
Melbourne’s property market has smashed yet another record, with the city’s median house price increasing to almost $730,000 in the three months to September 30.
Demand for larger rental properties is pushing up the weekly median rental for three-bedroom homes in Melbourne’s Bayside.
While rises in Melbourne’s median house price have been well documented, new REIV data shows significant capital growth has also been recorded in multiple regional centres.
There are a number of market indicators which chart the statewide, and local, performance of the property sector. This includes the average length of time that homes in each town or city take to sell, known as median days on market.
The REIV is pleased to announce that Victorian Harry Li has been named the Australasian Auctioneer of the Year at a gala event in Melbourne last night.
Despite a median house price of $706,000 and apartment price of $545,500, many of Melbourne’s desirable suburbs boast homes for $200,000-plus – in the inner north and south of the city.
The sale of larger family homes across Melbourne has boomed, with the number of five-bedroom houses sold in the city’s middle suburbs up 25 per cent and outer suburbs up more than 20 per cent, the latest REIV data shows.
The desire for space is driving growth in the price of larger homes in regional Victoria in the year to June 30.