After the first quarter of 2024, there were many suburbs fetching higher price tags and have accumulated greatly than what was seen in 2022-2023. This is the first quarter in many consecutive quarters that Toorak was not on top. Brighton took top spot at $4,135,000, with Portsea taking second at $4,100,000. Malvern, Toorak and Kew rounded the top 5 with $3,265,000, $3,072,500 & $2,980,000 respectively. (its important to note that two of the five suburbs had less than 30 sales in the quarter for the suburb).
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 2024:
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.
