Auction volumes, sales up in Melbourne's Craigieburn

Auction volumes, sales up in Melbourne's Craigieburn
Auction volumes, sales up in Melbourne's Craigieburn

The Melbourne suburb of Craigieburn has auction volumes up 45 percent and sales up 88 percent from 2015 year to date figures, according to new research from the REIV.

The REIV state so far this year some 126 homes have sold at auction, up from 67 for the same period last year. The median house price has also increased, up 10 percent over March 2015 to $417,000.

REIV chief executive officer, Geoff White, said up-and-coming suburbs in the city’s north are relatively affordable and offer buyers great value for money.

“While Melbourne’s south-eastern suburbs saw some of the strongest auction volumes and price growth last year, buyers are now looking at alternative areas of Melbourne,” he said.

"Growth has also been recorded in South Morang, with auction volumes up 62 percent and annual house price growth of 7.4 percent to a median of $458,500.

"Higher auction volumes delivered strong results for vendors in the suburb, with 56 homes selling at auction this year – a 93 percent increase over 2015."

Other areas performing well according to the REIV include Epping and Thomastown, along with Roxburgh Park. 

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Auction volumes, sales up in Melbourne's Craigieburn

Tags: 
Auctions Residential Sales

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