Family home demand boosts three, four bedroom median: REIV

Increases in median house price for three and four bedroom family homes across Mebourne's inner suburbs have bested all price brackets in the three months to September 30, according to the REIV.

The REIV said the median price for three bedders is up 5.8% to just over $1.1 million and four bedders within 10km of the city up 3.8% over the quarter to nearly $1.7 million.

REIV chief executive officer Enzo Raimondo said across metropolitan Melbourne the median house price for three-bedroom homes rose 3.6% over the September quarter to $603,000 while four-bedroom homes were up 3% to a city-wide median of $752,000.

"Demand for larger family homes has boosted the median house price for three and four-bedroom homes across the city," he said.

“Melbourne’s outer suburbs have also seen price growth this year as buyers have sought value further from the city, with larger blocks attracting high buyer interest as the city’s middle suburbs have increased in price."

Three-bedroom apartments saw a 2% over the quarter to a median of $660,000.