Historically low interest rates are helping to drive demand for prestige properties in Boroondara. Median house price in February 2014 was $1,125,500, an increase of 14.8% from February 2013, where the median house price was $980,000. Both Glen Iris and Balwyn North recorded eleven $1,000,000 + sales in February. Auction clearances remain high, with many auctions still planned in March 2014.
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