Bendigo and Moe lead regional Victoria median house price growth: Victorian valuer general
Country Victoria’s median house price showed no change, remaining at $280,000 in the December 2012 quarter, according to official valuation date.
Over the 12 months to December 2012, the median house price in country Victoria also remained unchanged.
The number of country Victoria house sales for the December 2012 quarter is expected to be 5,772, which is 7.3 per cent more than the December 2011 quarter.
Bendigo is a powerhouse with strong growth both over the quarter and year.
A comparison of house prices in regional, seaside and large towns also indicates various trends, although the quarterly data is highly dependent on the nature and the volume of the stock that sold.
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Regional city housing markets continued to show significant variations for the December 2012 quarter due to a paucity of sales. Bendigo median house prices increased by 12.3% for the quarter, having increased by 5.1% in the previous quarter. This is a 12 month increase of 23.4%. Horsham decreased by 7.1 per cent for the quarter, having decreased by 1.9 per cent in the previous quarter.
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The sample above is the same used in the previous quarter’s report. It shows that six of the 12 large towns had increases in their median house price for the December 2012 quarter. In the previous quarter six showed increases and in the June 2012 quarter five increased. Morwell had a decrease of 6.5%, having decreased by 1.6% in the previous quarter. Yarrawonga increased by 7% and Traralgon decreased by 4.2%. Sale had a decrease of 1.9% for the December 2012 quarter, having increased in the previous quarter by 3.8%.
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The above sample shows that three of the 10 seaside towns selected had increases in their median house prices from the September 2012 to December 2012 quarters. Anglesea increased by 47%, having decreased by 33.2% during the previous quarter. Cowes median house price decreased by 2.2% for the December 2012 quarter, having increased by 4% in the previous quarter. Sorrento median house price had no change during the December 2012 quarter, having increased by 5.1% in the previous quarter.
