As the calendar year came to a close, there were many suburbs fetching higher price tags and some new suburbs reaching the million dollars. Toorak continues to hold the top spot at $4,426,600 while Flinders was a closer third at $4,425,000 (however there were less than 30 sales in the quarter for the suburb).
Round the top 5 were three suburbs all surpassing the $3M mark, Red Hill, Canterbury & Brighton. Red Hill also saw less than 30 sales in the quarter.
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 2023:
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.
