What can you buy for Melbourne’s median unit price?
Melbourne units sold for a median price of $468,000 for the quarter to June, according to RP Data.
The newly released figures in RP Data-Rismark’s Daily Home Value Index for June show that Melbourne units displayed 2.7% capital growth. However, with a 2.4% drop over the quarter to June, Melbourne units have seen no actual capital growth in the year to date.
Property Observer looks at some recent sales of townhouse villas, units and apartments to see what exactly $468,000 will buy you.
This one bedroom apartment with a car space is located in the inner south-eastern suburb of Prahran. It was sold for $468,000 last month.
The north facing apartment has a lounge, separate kitchen and dining area, and a double bedroom with built in robes.
In twenty years, it has more than quadrupled its value – the vendors purchased the home for $95,000 in 1994.
Price: $468,000
Bedrooms: One
Drive to CBD: 20 minutes
Located in Melbourne’s south-east, this Carrum free-standing unit sold for $470,000 in June.
It has three bedrooms, two bathrooms, and a separate lounge area.
The unit, with a double carport, shares the block with one other unit, and is within walking distance of the beach.
Price: $470,000
Bedrooms: Three
Drive to CBD: 43 minutes
3/385 Gaffney Street Pascoe Vale
This single level brick unit sold for $465,000 at the beginning of June.
Located in the northern suburb of Pascoe Vale, the three bedroom home is close to the Pascoe Vale shops, train station, Citylink and in the Strathmore school zone.
Price: $465,000
Bedrooms: Three
Drive to CBD: 22 minutes
G05/277-287 Barkly Street Footscray
In the fast-gentrifying inner Western suburb of Footscray, this ground floor apartment has two bedrooms and one bathroom. It sold for $465,000 last month.
Located in the Barkly Theatre Apartments, the open plan apartment has its own private outdoor entertaining areas, a galley style kitchen and secure parking.
Price: $465,000
Bedrooms: Two
Drive to CBD: 18 minutes
This eastern suburban unit sold for $460,000.
The brick villa with two bedrooms and one bathroom is within walking distance of Blackburn Village, the train station, primary schools and buses.
The vendors bought the unit for $315,000 in 2008.
Price: $460,000
Bedrooms: Two
Drive to CBD: 27 minutes