Inner, Middle, Outer - which Melbourne suburbs have the highest annual price growth?

Inner, Middle, Outer - which Melbourne suburbs have the highest annual price growth?
Inner, Middle, Outer - which Melbourne suburbs have the highest annual price growth?

Melbourne's buoyant inner city property market secured 13.6% annual price growth, according to REIV chief executive officer Enzo Raimondo who said the market continued to reach new levels during the current boom.

The overall metro Melbourne median house price of $706,000 was up 6.3% annually, he said.

Growth within inner suburbs recorded an increase of 6.2% just in the recent quarter.

He said that the number of million dollar suburbs across the city skyrocketed to 78 this quarter – 16 more than in the previous (March) quarter

Regional Victoria also had smaller price increases, with the median price of a home in regional Victoria increasing in the June quarter, up 1.5% to $346,000. 

June Quarter 2015 Metropolitan Median Prices  

Metro Melbourne Jun-15 Quarter Quarterly change Mar-15 Quarter Annual change
House $706,000 5.2% $671,000 6.30%
Unit $520,000 1.3% $513,500 4.10%

 

Inner Jun-15 Quarter Quarterly change Mar-15 Quarter Annual change
House $1,239,500 6.2% $1,167,500 13.60%
Unit $545,500 0.3% $544,000 1.90%

  

Middle Jun-15 Quarter Quarterly change Mar-15 Quarter Annual change
House $827,500 5.1% $787,500 11.20%
Unit $574,000 -0.3% $576,000 8.70%

 

Outer Jun-15 Quarter Quarterly change Mar-15 Quarter Annual change
House $525,500 5.0% $500,500 5.80%
Unit $399,000 1.9% $391,500 3.70%

 

Note: median prices are seasonally adjusted and annual change are based on rolling annual change 

Click here to find out what a median is, what seasonal adjustment is and why the REIV uses them.

Median prices over time

 Inner, Middle, Outer - which Melbourne suburbs have the highest annual price growth?

This graph shows median house and unit prices in Melbourne over the past decade in seasonally adjusted terms.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Melbourne Median Price

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