Doncaster units up 28.9% in December quarter, tops Melbourne growth suburbs: REIV
According to the latest data from the Real Estate Institute of Victoria (REIV), the eastern Melbourne suburb of Doncaster recorded the highest annual growth in unit prices.
The median sales price of units in Doncaster for 2013 was $652,000, up 33.7% from 2012.
Of the top 20 growth suburbs listed by the REIV, 15 recorded annual price growth for units of over 20%, with Doncaster, Bentleigh, Caufield North, Dandenong and Bentleigh East making up the top five.
Doncaster's 2013 growth was sustained through to the final quarter of the year, with the suburb recording a 28.9% increase in median unit price from the September quarter.
This three bedroom, one bathroom Doncaster apartment at 29/81-83 Tram Road (pictured below) is currently selling with a minimum asking price of $599,000.
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5-7 Curlew Court in Doncaster is also selling off the plan. The three bedroom, two bathroom apartment has a minimum asking price of $590,000.
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Another Doncaster apartment, one of the many newer units in the suburb, is currently selling with an asking price of $630,000. The two bedroom unit is at 27/3 Sovereign Point.
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The REIV's top 20 growth suburbs for units
| Note: Only suburbs where a minimum of 25 sales recorded in the quarter are included. | ||||
Top 20 Growth Suburbs (Quarterly) | ||||
| Suburb | Dec-13 Median | Sep-13 Median | Quarterly Change | |
| 1 | Highett | $625,000 | $485,000 | 28.9% |
| 2 | DONCASTER | $652,000 | $546,500 | 19.3% |
| 3 | CARNEGIE | $496,000 | $417,544 | 18.8% |
| 4 | DANDENONG | $335,000 | $285,000 | 17.5% |
| 5 | Melbourne | $517,000 | $449,000 | 15.1% |
| 6 | Malvern East | $707,500 | $620,000 | 14.1% |
| 7 | BOX HILL | $461,500 | $405,000 | 14.0% |
| 8 | MENTONE | $550,000 | $485,000 | 13.4% |
| 9 | Caulfield NORTH | $676,000 | $597,500 | 13.1% |
| 10 | ARMADALE | $594,000 | $528,000 | 12.5% |
| 11 | Chadstone | $663,500 | $590,000 | 12.5% |
| 12 | Hawthorn | $538,000 | $479,500 | 12.2% |
| 13 | Coburg | $525,000 | $469,000 | 11.9% |
| 14 | ASCOT VALE | $514,750 | $462,500 | 11.3% |
| 15 | KEW | $650,000 | $584,850 | 11.1% |
| 16 | St Kilda | $476,000 | $431,500 | 10.3% |
| 17 | NOBLE PARK | $340,000 | $309,500 | 9.9% |
| 18 | DONCASTER EAST | $720,000 | $656,500 | 9.7% |
| 19 | Bentleigh | $755,000 | $690,000 | 9.4% |
| 20 | Camberwell | $665,000 | $608,750 | 9.2% |
Top 20 Growth Suburbs (Annual) | ||||
| Suburb | Dec-13 Median | Dec-12 Median | Annual Change | |
| 1 | DONCASTER | $652,000 | $487,500 | 33.7% |
| 2 | Bentleigh | $755,000 | $566,250 | 33.3% |
| 3 | DANDENONG | $335,000 | $256,500 | 30.6% |
| 4 | Caulfield NORTH | $676,000 | $522,500 | 29.4% |
| 5 | Bentleigh EAST | $765,000 | $597,500 | 28.0% |
| 6 | BRIGHTON EAST | $862,500 | $680,000 | 26.8% |
| 7 | ORMOND | $537,500 | $428,500 | 25.4% |
| 8 | HAMPTON | $737,250 | $592,500 | 24.4% |
| 9 | Chadstone | $663,500 | $535,000 | 24.0% |
| 10 | CARLTON | $395,000 | $320,000 | 23.4% |
| 11 | Toorak | $760,000 | $618,000 | 23.0% |
| 12 | KENSINGTON | $545,000 | $444,000 | 22.7% |
| 13 | RICHMOND | $646,000 | $527,500 | 22.5% |
| 14 | HUGHESDALE | $554,000 | $457,500 | 21.1% |
| 15 | CARNEGIE | $496,000 | $410,500 | 20.8% |
| 16 | ST KILDA EAST | $537,000 | $450,000 | 19.3% |
| 17 | Highett | $625,000 | $524,000 | 19.3% |
| 18 | KEW | $650,000 | $550,000 | 18.2% |
| 19 | Camberwell | $665,000 | $566,000 | 17.5% |
| 20 | CROYDON | $440,000 | $375,000 | 17.3% |
| Source: REIV | ||||