REIV releases June quarter median prices for regional Victoria
The REIV has released the June quarter median prices for main centres in regional Victoria.
REIV CEO Enzo Raimondo said that good demand for houses continues in a number of regional Victoria centres, with the largest increase in the median price recorded in the City of Greater Shepparton.
“The median price of a house in the City of Greater Shepparton increased by 7.7 per cent in the quarter from $252,250 to $271,750.
“The median in the City of Ballarat increased by 4.7 per cent from $258,000 to $270,000.
“Buyers are finding that affordable homes outside metropolitan Melbourne can provide a good option to get a start in the market.
“Strong demand was also recorded in the City of Greater Geelong, where the median price of a house increased by 3.6 per cent to $365,000, with the suburb of Corio recording the largest increase –a 6.8 per cent improvement in the median.
“The median fell in the Wellington Shire by 11.9 per cent in the quarter and is now $229,000.
“The median price is simply an indicator and it cannot be applied directly to all homes, as each sale is affected by the property’s unique features and, of course, demand on the day,” Mr Raimondo concluded.
