The Real Estate Institute of Victoria (REIV) data shows for the three months ended 30 September 2018, median house price performance remained stable.
According to the REIV, there was an increase of 13.6% in the value of homes sold on the private market compared to just 0.6% via auction over the last 12 months. Resulting in an overall increase of 5% in the last 12 months.
REIV also highlighted that over the last 12 months, regional Victoria outperformed Melbourne with a 9.!% increase in the median house price, while the outer Melbourne suburbs saw a 7.1% increase in the house median price. The unit median price increased by 9.8%.
In view of the last three months to September 2018, the median house prices in Melbourne remained unchanged at $834,000 and the unit median prices increased by 0.2% to $640,000.
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.
Oct 2018
