What does a house at Melbourne’s median price look like?

Melbourne saw the biggest price drop for houses of any capital city last month, according to RP Data.

RP Data-Rismark’s Home Value Index recorded a 3.6% drop in house values in May. The median price of houses in Melbourne based on settled sales over the quarter to May now sits at $612,000.

Property Observer looks at recent sales in Melbourne to see just what that price will get you.

1. 282 Pin Oak Crescent, Flemington

   
   
   This two bedroom Victorian weatherboard sold for $600,000. Marketed as a “renovators delight”, it was sold at executors auction through Geoff Green and Adam Hicks of Geoff Green Real Estate. The Flemington home is within walking distance of a train station, trams, cafes and restaurants and the Newmarket Village shops.

   Price: $600,000
   Bedrooms: Two
   Drive to CBD: 16 minutes

2. 14 St Andrews Close, Croydon
   

   
   
   A four bedroom, three bathroom Croydon home sold for $608,000 last month. Set on a 1,092 square metre plot, this sprawling family home is essentially a duplex, with two dwellings under the same roof. At one end of the home there are three bedrooms, two bathrooms, a kitchen, two large living spaces and a separate dining space. The other home, which has separate meters and access has a bedroom, one bathroom, a kitchen and dining area.

   Price: $608,000
   Bedrooms: Four
   Drive to CBD: 43 minutes

3. 9 Tambo Avenue, Reservoir
   

   
   
   This home is located in the northern suburb of Reservoir, roughly 12 kilometres from the Melbourne CBD. The three bedroom, one bathroom home has a formal living room, a separate formal dining room and a central kitchen. Sitting on a 730 square metre lot, the new owners could potentially redevelop on the land as the neighbours have done.

   Price:$620,000
   Bedrooms: Three
   Drive to CBD: 34 minutes

4. 17 Scott Street, Seddon
   

   
   
   This two bedroom home clad in Tasmanian Red Gum was sold for $615,000 earlier this year. The Seddon house was marketed as an “Eco-home” by selling agent Bretty Ayles of Village Real Estate, with exterior double insulation, a “thermal chimney for heat escape”, double glazed windows, solar panels and a first flush cleaning system for water capture. 

   Price: $615,000
   Bedrooms: Two
   Drive to CBD: 20 minutes

5. 41 Barkly Street, Ringwood
   

   
   
   Another two bedroom weatherboard home, this house in Ringwood sold for $610,000. The home has an open living and dining area, a renovated kitchen and sunroom, with polished timber floorboards throughout. Outside, there is a carport and covered verandah. 41 Barkly Street is within walking distance of Heatherdale and Ringwood Station.

   Price: $610,000
   Bedrooms: Two
   Drive to CBD: 32 minutes