The Melbourne property market has many popular suburbs. Many part of the million dollar club. Toorak has held top spot for some time, but in the last quarter Portsea took top spot with a house median price of $4,125,000. Second place was Malvern with $3,845,000 and Brighton taking third place with $3,500,000 (Portsea and Brighton had less than 30 sales transacted in the last three months).
Rounding up the top 5, was Toorak 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 March 2022:
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.
April 2022
