Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Top performing suburbs revealed

Staff Reporter 4 minute read

Kate Miller

Sandhurst, located to the south east of Melbourne’s CBD, has topped a list of Victoria’s top ten performing suburbs for houses over the past 12 months, compiled by PRDnationwide.

According to report author Dan O’Halloran, PRDnationwide Victorian research analyst, the median house sale price in Sandhurst grew from $330,000 in September 2009 to $515,000 12 months later – a whopping 56 per cent growth.

A close second on the list – recording 54 per cent growth – was McCrae in the Mornington Peninsula. This was followed by Woodend which registered a 49 per cent hike in the median house price.

Advertisement
Advertisement

“Interestingly, the top three performing suburbs were the only three suburbs in the Top 10 that were located more than 25km outside of the Melbourne CBD,” said Mr O’Halloran.

The Top 10 performing suburbs for apartments were also analysed.

Brighton East achieved the state’s most rapid median price growth for units – recording an increase of 51 per cent to reach a median of $795,000 in September 2010.

“Not surprisingly, it was the densely populated suburbs within close proximity to Melbourne that accounted for the overwhelming majority of top performing suburbs for units,” Mr O’Halloran said.

“Nine of the Top 10 median price growth performers were located within 15 kilometres of the Melbourne CBD.”

PROMOTED CONTENT


In close alignment with Victoria’s house market, unit sales activity tightened significantly throughout 2010.

“Once again, it was the more wealthy investors and home owners, who were capable of absorbing the interest rate hikes that were best placed to buy higher end real estate at a good price.”

Top performing suburbs revealed
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
handshake news MyState names banking general manager

A former broker head has returned to MyState Bank, to tackle turn...

BBS 2021 ta SA/NT’s top brokers crowned

The leading brokers in South Australia and the Northern Territory...

Paul Kearney ta AFCA recruits from ME Bank

The complaints authority has named a new executive general manage...