Mt Martha, Wollert, Sunbury among suburbs bucking the trend as Melbourne market falls

Date: 27 Apr 19

Most Melbourne suburbs have lower median house prices than they did a year ago, as the city’s property woes spread.

Victoria’s peak real estate body found Melbourne’s median sale price for houses shed $4750 (0.6 per cent) in the year to March 31, hitting $793,000.

It’s the first annual fall recorded by the Real Estate Institute of Victoria since 2013.

In all suburbs where there had been 30 sales or more per quarter, only 14 — all in the city’s southeast or outer ring — had a higher median price than a year ago.

Mt Martha is leading the pack, with the house median lifting $104,000 (10.4 per cent) annually to $1.1 million, while new homes hub Wollert is up $42,500 (7.6 per cent) to $605,000 and Sunbury jumped about $30,000 (5.7 per cent) to $552,250.

Langwarrin, Officer and Clyde North have each risen more than 4 per cent.

Keysborough, Pakenham, Craigieburn, Doreen, Mt Eliza, Werribee, Rye and Hampton Park round out the list.

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