Northcote reigns as the most dynamic property market in Melbourne's north: HTW
The price point most active in Melbourne’s north is $700,000 to $1.2 million, according to Herron Todd White’s (HTW) latest monthly market report.
The property advisory firm says that this price point is especially active in inner suburbs such as Brunswick, Northcote, Thornbury, Preston and Coburg. This price point is popular in properties within close proximity of the CBD.
A suburb that continues to be one of the most dynamic in Melbourne’s north is Northcote. It has had a quarterly median house price change of 18.2%. This can be explained by the suburb’s proximity to the CBD, its public transport connections, trendy bars, cafes and live music venues.
Northcote has also experienced a number of high end sales including 25 Simpson Street, Northcote (pictured above), sold for $2.34 million in August 2016.
One of the slowest and least active suburbs in Melbourne’s north is Broadmeadows, highlighted by its median house price of $390,000 and quarterly growth of 2.2%.
Broadmeadows has also had less than 30 sales within the suburb in the last quarter (source: REIV, 2016), the valuation firm noted.
It suggested a possible reason for this small amount of activity was the huge supply of affordable, newly constructed homes in Melbourne’s outer north suburbs such as Craigieburn and Greenvale.
