What can you buy for Melbourne's median house price?
The median price of a house sold in the October quarter was $615,000, according to CoreLogic RP Data. But what will that price actually buy?
The data house recorded a 1.8% increase in Melbourne house values over the quarter, with 9.2% growth over the past year. For October, Melbourne's median house price was $177,000 lower than Sydney's.
Property Observer looks to recent Melbourne sales to see just how far $615,000 will go in the city's housing market.
- 28 Kenneth Street, Preston, Vic
This three bedroom Preston house sold for $616,000 last week. Located 9 kilometres north of the Melbourne CBD, the home is within walking distance of Northland Shopping Centre and an eight minute drive to La Trobe University.
The house, situated on a 482 square metre plot, features leadlight windows, a brick open fireplace and a decked outdoor entertaining area.
Price: $616,000
Bedrooms: Three
Drive to CBD: 20 minutes
44 Kubis Avenue, Aspendale, Vic
Located in the bayside suburb of Aspendale, this three bedroom house sold for $620,000 last month. The home has two living areas, built in robes in all the bedrooms and two bathrooms. The house is situated in the centre of its 531 square metre plot, with a front and rear garden.
Price: $620,000
Bedrooms: Three
Drive to CBD: 40 minutes
Selling for $615,000, this bedroom house is located in Keilor, 20 kilometres north-west of Melbourne's CBD.
The house, situated on a cul-de-sac, the house has three bedrooms, including a master with walk in robes and en suite. There is a formal lounge, formal dining room and informal dining area next to the kitchen.
Price: $615,000
Bedrooms: Three
Drive to CBD: 25 minutes
19 Mayfield Grove, Altona Meadows, Vic
Currently a three bedroom brick house, this property with a town planning permit for four double storey townhouses sold for $616,500 earlier this month.
The house is advertised to rent at $400 per week, representing a rental yield of 3.4%. Altona Meadows is located 17 kilometres south east of the Melbourne CBD.
Price: $616,500
Bedrooms: Three
Drive to CBD: 23 minutes
7 Elm Tree Close, Taylors Hill, Vic
This four bedroom house sold for $605,000 last month. It has a formal lounge with cathedral ceilings, a study, open plan living and dining area, a butler's pantry off the kitchen, and a cinema room. The house sits on a 749 square metre allotment.
Price: $605,000
Bedrooms: Four
Drive to CBD: 28 minutes