Melbourne’s million dollar suburbs

Melbourne’s million dollar suburbs

18 Feb 2015 By: Greg Hocking 0 Comment

The clearance rate for Melbourne’s auctions is on the rise, with last weekend’s 445 auctions achieving a 74 per cent clearance rate.

The number of new listings hitting the market is growing as sellers sense their opportunity to take advantage of the historic low interest rates that are prompting buyers and investors to make their move.

The REIV’s December quarter figures saw eight new suburbs achieve median house prices above a million dollars: East Melbourne, Flinders, Carlton North, Clifton Hill, Richmond, Northcote, Aberfeldie and Strathmore.

Toorak and Deepdene top the list which also includes stalwarts such as Albert Park, Middle Park, Brighton, St Kilda, Kew and South Yarra.

The million dollar list may be growing, but there are still plenty of good value properties available in neighbouring areas and in some cases, adjacent suburbs.

If you’re having trouble finding the property that’s right for you, contact us to find out about new listings before they hit the market. With offices spanning Melbourne from the west (Williamstown, Yarraville, Werribee and Tarneit) through the inner city (Albert Park, CBD, Docklands) and the south east (Cheltenham, Oakleigh), we’re local specialists.

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Greg Hocking

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