Northcote shining in Melbourne property market: Herron Todd White
A new report has noted housing market conditions in the suburb of Northcote as 'excellent', with median house prices at $943,000 rising 4.2% in the last quarter. The median sale price in the local apartment market, however, declined 1.81% for the quarter to $487,500.
The Herron Todd White June Month in Review report also noted suburb of Carnegie was noted for an 'impressive' residential housing capital growth rate of 7.19% for the financial year and the highest median sales prices for for the past three years in with a $1,277,500 March investment.
Overseas investors have particular interest in prestige and off the plan investments in the Melbourne suburbs of Doncaster, Balwyn and Templestowe, often bidding against other potential purchases from overseas to enter the market above cost.