Apartments on offer at Melbourne's $532,000 median on realestateview.com.au

Apartments on offer at Melbourne's $532,000 median on realestateview.com.au
Apartments on offer at Melbourne's $532,000 median on realestateview.com.au

Melbourne’s median apartment price rose 2.6% in the September quarter to $532,000, according to the REIV. 

REIV CEO Enzo Raimondo said there was currently a range of commentary around market movement however while the market was cyclical, it was in an upward trend at this time.

Property Observer went 'house hunting' based on the median range and found seven units, with the Richmond suburb dominating the list.

Here's the list, with a couple of units from Richmond first. 

1. This one-bedroom New York 'warehouse style' apartment created by architects Jackson Clements Burrows (above)  sits at 17/8 Lord Street, Richmond. It is being auctioned on November 7 with upwards of $500,000 suggested by listing agents Andrew Crotty and Claire Parkes of Biggin & Scott.

2. This two-bedroom apartment on 9/8 Hull Street, Richmond is within walking distance to Yarra Park and the MCG. It is being auctioned on November 7 with a $500,000-$550,000 price range through listing agents Grant Wallace and Edward Lloyd of hockingstuart.    

3. Moving on from Richmond to St Kilda, this two-bedroom unit set in a boutique block of six at 3/29 Chapel Street is up for auction in a $490k - $530k price range on November 14. The listing is by Steve Feren and Melina Scriva of Hodges.

4. Located at 4/52 Barton Street, Surry Hills, this two-bedroom unit is on auction for upwards of $520,000. The listing is by Tim Heavyside and Rick Volpi of Fletchers on November 14.

5. Blue bay views and a north-facing balcony terrace characterise this two-bedroom unit at 4/323 Beach Road, Black Rock. The auction is on November 14 with a $500,000-$550,000 price range and the agents are Nick Jones and Simone Tindall of Chisholm & Gamon Property.

6. A two-bedroom unit with views of the city's skyline at 5/661 Malvern Road, Toorak goes under the hammer for $520,000 - $570,000 on October 31. The selling agents are Nick Gatacre and Joel Finkelstein of hockingstuart.

7. A two-bedroom apartment at 9/41 Moreland Street, Footscray auctioned last weekend with estimates upwards of $490,000 through Gerard Hannan of Village Real Estate. But it failed to sell. 

Metro Melbourne Sep-15 Quarter Quarterly change Jun-15 Quarter Annual change
House $729,500 4.5% $698,000 8.2%
Unit $532,000 2.6% $518,500 5.1%
         
Inner Sep-15 Quarter Quarterly change Jun-15 Quarter Annual change
House $1,236,000 -0.2% $1,239,000 17.5%
Unit $560,000 2.4% $547,000 2.4%
         
Middle Sep-15 Quarter Quarterly change Jun-15 Quarter Annual change
House $861,000 4.4% $825,000 13.6%
Unit $586,500 1.7% $576,500 8.8%
         
Outer Sep-15 Quarter Quarterly change Jun-15 Quarter Annual change
House $550,500 5.1% $524,000 7.9%
Unit $415,500 3.9% $400,000 5.2%


Note: All quarterly median prices are seasonally adjusted and quarterly. Annual change is based on rolling annual figures. 

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Property market Apartment Sales

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