A report from the Real Estate Industry of Victoria (REIV) reveals that Melbourne’s median sale price for houses went past $850,000 in the final months of 2019. This is the highest median price on record for Melbourne.
Suburbs that recorded really strong growth during this period are Port Melbourne (median price up 28.4% to $1.67m), Strathmore: 22.3%, $1.461m, Sunshine: 22.2%, $815,000, Mitcham: 20.2%, $1,128,500, Cheltenham: 19.1%, $1.267m and Wheelers Hill: 17.3%, $1.15m.
In other real estate news, Pakenham (924 sales) and Craigieburn (896) were named by realestate.com.au as the nation’s busiest property markets. Other popular suburbs were Point Cook (876), Reservoir (657), Berwick (652), Tarneit (604), Werribee (602) and Sunbury (593).