Middle suburb sales strength triggers record $658,000 Melbourne median house price

Middle suburb sales strength triggers record $658,000 Melbourne median house price
Middle suburb sales strength triggers record $658,000 Melbourne median house price

Melbourne house prices have risen to a new record median of $658,000, with the city's median price up 3.3% over the three months to 30 June. 

Real Estate Institute of Victoria chief Enzo Raimondo said the Melbourne market remains strong and continues to show solid gains. 

There was a 16.7% year on year increase. 

The median house price was up from $637,000 in the March quarter - however the quarterly 3.3% increase was lower than the 9% recorded in the September quarter last year. 

"It was the city's middle ring suburbs, highly sought after by buyers priced out of the inner-city, which showed the most substantial house price growth," Raimondo said.

The middle Melbourne house price of $720,000 was up 1.8% in the June quarter and 15.8% year-on-year growth.

Inner-city house prices grew 12.1% year-on-year, while for the outer suburbs the figure was 10.4%. 

Middle ring suburb auction listings around the Melbourne median price range include the 26 July Bulleen offering.

Agents have advised a $620,000 to $680,000 price range for 13 Millicent Avenue, Bulleen (pictured above) at its Fletchers auction.

Offerings at around the $720,000 middle Melbourne median include 13 Yorkshire Street Blackburn North (pictured below) where the Noel Jones agents are suggesting $690,000 plus at its 26 July auction.

Middle suburb sales strength triggers record 8,000 Melbourne median house price

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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