October 02, 2014
House prices in Melbourne now have a median value of $626,000, following 10 year average growth of 6.20% per annum. (Source: Residex)
There were 47,655 homes and 35,309 units sold in Melbourne over the year to July, approximately 20% more than the previous year. (Source: Residex)
A report by RP Data states that dwelling values in Melbourne dropped by 0.8 per cent in September.
Since 1991 first home buyers have accounted for 21.5 per cent of all loans in Victoria, over the last year it has been 12.2 per cent, nearly half. July was an all-time low at 11.3 per cent. (Source: RP: Data).
Over the 2013/14 financial year, the median selling price of land has increased by 6.0% across the combined capital cities and by 0.6% across regional markets. The median land price was recorded at $247,000 across the combined capitals and $156,000 across the regional markets. (Source: RP Data).