Middle suburb sales strength triggers record $658,000 Melbourne median house price
Melbourne house prices have risen to a new record median of $658,000, with the city's median price up 3.3% over the three months to 30 June.
Real Estate Institute of Victoria chief Enzo Raimondo said the Melbourne market remains strong and continues to show solid gains.
There was a 16.7% year on year increase.
The median house price was up from $637,000 in the March quarter - however the quarterly 3.3% increase was lower than the 9% recorded in the September quarter last year.
"It was the city's middle ring suburbs, highly sought after by buyers priced out of the inner-city, which showed the most substantial house price growth," Raimondo said.
The middle Melbourne house price of $720,000 was up 1.8% in the June quarter and 15.8% year-on-year growth.
Inner-city house prices grew 12.1% year-on-year, while for the outer suburbs the figure was 10.4%.
Middle ring suburb auction listings around the Melbourne median price range include the 26 July Bulleen offering.
Agents have advised a $620,000 to $680,000 price range for 13 Millicent Avenue, Bulleen (pictured above) at its Fletchers auction.
Offerings at around the $720,000 middle Melbourne median include 13 Yorkshire Street Blackburn North (pictured below) where the Noel Jones agents are suggesting $690,000 plus at its 26 July auction.
