This is the latest Rental Market Snapshot as at March 2018. Here we highlight, metropolitan Melbourne and regional Victoria.
The Real Estate Institute of Victoria (REIV) has now released the property medians for the March 2018 quarter.
New REIV data for the three months ended 31 March 2018 reveals that the median house price in middle Melbourne exceeded seven figures for the first time – $1,034,000 – an increase of 4.2% from the previous quarter. Overall, the median house price across metropolitan Melbourne rose for the eighth consecutive quarter, up 4.4% to $855,000.
This represents an increase in the median Melbourne house price of 10.9% over the past twelve months. Melbourne’s metropolitan apartment median price broke the $600,000 barrier, rising 2.4% to $607,000.
For further details please contact us – info@crestproperty.net.au
Disclaimer – The REIV is the most authoritative source for information about the Victorian rental market with historical vacancy rates from October 2002. The REIV, on a monthly basis, collect current vacancy rates and rental data from Members and view.com.au leases.
Apr 2018
