Melbourne house median hits record $669,000: REIV
Melbourne's median house price hit $669,000, up 5% on the September quarter after price increases in inner, middle and outer suburbs, according to the latest REIV quarterly results.
"Inner Melbourne increased by 11.7% for the year with middle Melbourne up by 13.2% and outer Melbourne at 8.9%," REIV Chief Executive Officer Enzo Raimondo said today.
Overall Melbourne house prices were up 11.7% compared with 2013.
The December quarter median house price in regional Victoria was at new records too, at $344,000, up 5.5% on September.
December Quarter 2014 Median Prices
Metro Melbourne | Dec-14 Quarter | Quarterly change | Sep-14 Quarter | Annual change |
House | $669,000 | 5.3% | $635,000 | 11.7% |
Unit | $511,500 | 1.6% | $503,500 | 5.7% |
Source: REIV
Regional Victoria | Dec-14 Quarter | Quarterly change | Sep-14 Quarter | Annual change |
House | $344,000 | 5.5% | $326,000 | 5.8% |
Unit | $257,000 | 4.0% | $247,000 | 3.0% |
Source: REIV
This graph shows median house and unit prices in Melbourne over the past decade in seasonally adjusted terms.
Median prices over time
