What Melbourne's median house price really gets you

What Melbourne's median house price really gets you
What Melbourne's median house price really gets you

According to the latest RP Data-Rismark Home Value Index Results, Melbourne dwellings sold for a median price of $515,000 for 2014’s March quarter.

Melbourne's median dwelling price has increased 11.6% increase year on year, the second biggest yearly increase after 15.6% growth in Sydney median dwelling price.

Property Observer looks at five Melbourne homes that recently sold around the median $515,000 mark.

41/9-19 Miller Street, Fitzroy North

An apartment (pictured above) in Fitzroy North’s Miller Park complex sold for $510,000 on 9 April. The two bedroom first floor unit opens onto secure communal gardens and is situated just off Nicholson Street. This property sold below March’s median unit price for Fitzroy, which was $671,000 according to RPData.

  • Price: $510,000
  • Rooms: Two
  • Drive to CBD: 10 minutes

What Melbourne's median house price really gets you

What Melbourne's median house price really gets you

What Melbourne's median house price really gets you


170 Spring Street, Reservoir

This three bedroom home in Melbourne’s northern suburbs sold at $510,000 earlier this week. Another one sold on the back of its development potential, the weatherboard sits on a 585 square metre plot within walking distance of Reservoir train station and the Preston market. It was purchased by the vendors in 2006 for $258,000, almost doubling in value over eight years.

  • Price: $510,000
  • Rooms: Three
  • Drive to CBD: 18 minutes

What Melbourne's median house price really gets you

What Melbourne's median house price really gets you

 

6/100 Dodds Street, Southbank

This two bedroom unit (pictured above) sold for $511,000 this past weekend. The apartment in a low-rise complex has an open plan living area and is located near Melbourne’s Botanical Gardens. Though selling below Southbank’s March median price of $566,000, the property’s value almost doubled over the past 11 years. The vendors purchased the Dodd Street apartment for $265,000 in 2003.

  • Price: $511,000
  • Rooms: Two
  • Drive to CBD: Six minutes

What Melbourne's median house price really gets you

What Melbourne's median house price really gets you

What Melbourne's median house price really gets you

 

26 First Avenue, Altona North

A new build in Melbourne’s south west, this three bedroom, two bathroom home (pictured above) sold for $525,000 on Monday. Bedrooms are carpeted while living areas feature hardwood flooring. The brick house with a courtyard and garage sold above the March median for houses in Altona North, which sat at $507,000.

  • Price: $525,000
  • Rooms: Three
  • Drive to CBD: 17 minutes

What Melbourne's median house price really gets you

What Melbourne's median house price really gets you

What Melbourne's median house price really gets you

 

12 Busst Drive, Watsonia North

Situated 17 kilometres north-east of the Melbourne CBD, this Watsonia North home (pictured above) sold for $515,500 this past weekend. The three bedroom house with front and backyards is situated on a corner plot, with the selling agent suggesting the possibility of further development subject to council approval. The home was last advertised to tenants at $380 per week in February, putting rental yield at 3.84%.

  • Price: $515,000
  • Rooms: Three
  • Drive to CBD: 27 minutes

What Melbourne's median house price really gets you

What Melbourne's median house price really gets you

What Melbourne's median house price really gets you

Photo of Melbourne courtesy of Vincent Q/flickr.

Tags: 
Auctions Melbourne

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