Top growth suburbs over the last three month period ending 31 December 2024.
With interest rates remaining elevated, there is growing optimism that recent inflation data may prompt the Reserve Bank of Australia (RBA) to consider a rate cut in the coming quarter. Such a move could provide much-needed relief to borrowers and stimulate further activity in the property market.
Over the past three months, Melbourne’s property market has demonstrated resilience, with twelve suburbs recording double-digit growth in house median prices and sixteen suburbs experiencing similar gains in unit prices. This strong performance highlights the ongoing demand for property in key growth areas, driven by factors such as population growth, infrastructure investment, and changing buyer preferences.
Here we share the latest quarterly figures within the Melbourne property market.
Top growth suburbs by median house price
Here is a current list of the suburbs that have seen some capital appreciation from 1 October 2024 to 31 December 2024 (3 month period):
Note: Only quarterly median prices from suburbs with at least 30 sales in the relevant quarter are included.
Top growth in median unit prices
Here is a current list of the suburbs that have seen some capital appreciation from 1 October 2024 to 31 December 2024 (3 month period):
Note: Only quarterly median prices from suburbs with at least 25 sales in the relevant quarter are included
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
Is Now a Good Time to Buy?
Deciding whether to enter the market depends on a range of personal and financial factors. While some buyers may be cautious given current interest rates, others see opportunities in areas that are showing strong capital growth potential. Investors and owner-occupiers alike are assessing Melbourne’s long-term fundamentals, including affordability, rental demand, and future price projections.
What’s Next?
Navigating the property market can be complex, and getting the right advice is key to making informed decisions. Consulting with a local real estate expert or financial advisor can help tailor insights to your personal goals.
At Crest Property Investments, we specialise in sourcing brand new and off-the-plan properties for buyers, providing a full concierge service from search to settlement. If you’re considering investing or purchasing a property, we invite you to explore our resources and expert guidance.
✅ Visit our website: www.crestproperty.net.au
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We take great care to ensure that the information provided is accurate at the time of publication. However, market conditions and legislation may change. If you would like further insights or assistance, we would love the opportunity to help.
