Melbourne property market has experiences some impressive capital growth returns. Toorak continues to rank the most expensive suburb with a median house price of $5,000,000 up from $4,455,000 in December 2020.
Middle Park and Canterbury continue to hot the podium places of 2nd and third respectively. Middle Park has increased to $3,842,500 in June 2021 from $3,197500 in December 2020, while Canterbury has increased to $3,760,500 from $3,250,000. Rounding up the top 5, you have Brighton and East Melbourne who held there respective places 6 months ago.
The majority of suburbs continue to remain within a 20km radius of the Melbourne CBD.
Here is a current list of the suburbs that have home prices above a million as at the June 2021:
Note: These are based on quarterly median house figures
* Denotes less than 30 sales in the quarter for the suburb
Source – This information has been collected by the Real Estate Institute of Victoria Ltd (REIV). The most authoritative source for information on the Victorian property market. * denotes less than 30 sales in the quarter
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more, please contact us. We welcome the opportunity to assist you.
July 2021
