The Melbourne property market has seen a number of new suburbs join the million dollar club while a few dropped out. Toorak remains in the top spot with a median house price of $4,585,000, while East Melbourne jumped into second place with $4,333,000 and Portsea taking third place with $3,840,000 (however Portsea had less than 30 sales were transacted in the last three months).
Rounding up the top 5, was Flinders and Canterbury, both fetching well over the $3,000,000 mark.
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 December 2021:
Credit image: https://reiv.com.au/property-data/residential-sales/high-performers
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.
January 2022
