Property market update: Melbourne, March 2021
Melbourne’s property market continued to heat up in March, with the Victorian capital hitting a number of new records ...
The most expensive regional areas in Victoria are within driving distance of the city and have something special to offer, according to new information from the REIV.
“Mostly, these were places with that something extra – a coastal location or magnificent bushland. And all are within reasonable proximity of Melbourne,” REIV CEO Enzo Raimondo said.
The town’s median price is $690,000, outstripping Melbourne’s median of $658,000.
Nearby Point Lonsdale had a median price of $645,000.
In the three months to September, the highest median price in the state was, with $740,000.
However, Mr Raimondo warned only 50 sales were made in the town in the past 12 months, skewing the data.
Mr Enzo also pointed to certain areas with exceptionally high upper quartile prices, meaning the 75th percentile price.
In Barwon Heads, the upper quartile price was $880,0000, indicating that 25 per cent of properties sold above this price point.
In addition, the upper quartile price was $800,000 in Queenscliff and $793,250 in Macedon.
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