There are a number of market indicators which chart the statewide, and local, performance of the property sector. This includes the average length of time that homes in each town or city take to sell, known as median days on market.
The REIV is pleased to announce that Victorian Harry Li has been named the Australasian Auctioneer of the Year at a gala event in Melbourne last night.
Despite a median house price of $706,000 and apartment price of $545,500, many of Melbourne’s desirable suburbs boast homes for $200,000-plus – in the inner north and south of the city.
The sale of larger family homes across Melbourne has boomed, with the number of five-bedroom houses sold in the city’s middle suburbs up 25 per cent and outer suburbs up more than 20 per cent, the latest REIV data shows.
The desire for space is driving growth in the price of larger homes in regional Victoria in the year to June 30.
Melbourne's buoyant property market has rocketed past another record – by breaking the $700,000 median price ceiling for the city for the first time ever.
The new financial year is the monetary equivalent of January 1 – a time to take stock, a time for plans and resolutions, a time for changes.
Victoria's housing market has broken another record, with the highest number of auction sales over any six-month period in Melbourne’s history – in the year to 30 June.
Sellers in multiple Melbourne suburbs have been virtually guaranteed their homes will sell in the past three months, the REIV said today.
Everyone who owns property has one burning question: will my house increase in value this year?