May 01, 2015
Figures released by the Real Estate Institute of Victoria (REIV) show that Melbourne's median house price has increased 3.5 per cent from $664,500 to $688,000 for the March quarter.
The March increase sees the annual change at 10 per cent, while apartment prices also increased 2.2 per cent from $508,500 to $519,500 for an annual change of 5.2 per cent.
The best performing segment of the market for the March quarter was inner Melbourne (within 10 km of the CBD) houses, with the median price now sitting at $1,164,500, up 6 per cent on December's figure.
Eight of Melbourne's top ten most expensive suburbs are located in inner Melbourne including Toorak, Camberwell, Hawthorn and Malvern East.
The middle Melbourne (10 - 20 km from the CBD) houses segment also performed strongly, increasing 4.4 per cent to $791,000 while outer Melbourne (more than 20 km from the CBD) houses were flat increasing 0.2 per cent to $503,500.
To read the REIV's full analysis including interactive maps click here.