Clifton Hill leads median increase in Melbourne metro

Clifton Hill leads median increase in Melbourne metro
Michael CrawfordDecember 7, 2020

The latest Victorian Property Sales Report - covering the December 2014 quarter - has found the metropolitan suburb of Clifton Hill to have the largest increase in median price in a suburb with ten or more sales across the Melbourne metropolitan area.

Clifton Hill had 22 sales with the median price increasing 43.1% from $894,500 to $1,280,000, though perhaps more reflective of the type of housing available than the actual price growth. The Victorian valuer general noted quoting the highest and lowest increases and decreases for the quarter does not necessarily provide a definitive indication of the property market.

However, he suggests the examples may be useful for analysis and comparison though can be misleading in some instances. 

"Property analysts will be able to define and explain various locations’ trends using their knowledge of individual locations and their associated sub-market anomalies." 

The suburb with the next closest median price increase for the same period was Hawthorn East, a 28% increase to $1,562,000.

Throughout the Melbourne metropolitan area, median house price sales during the December 2014 quarter increased 6.5% to $570,000, units 5.6% to $475,000 and vacant land 2.6% at a median value of $220,000.

For the year ending December 2014 houses in the Melbourne metropolitan area increased 0.9%, units 2.6% and vacant land 5.8%.

For the full report, which includes an itemised suburb list, click here.

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

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