Tell the kids to stop whinging about 450k's.....get a load of this.....its 815 k's in the inner suburbs.... extract from 4.10.09
The most significant increases have been recorded in the inner suburbs where the median increased by 4.8 per cent to $815,000 followed by the outer suburbs. Melbourne records new record median house price - $520,000
The REIV September Property Update reveals that the median price of a house has increased by 6.4 per cent since August to $520,000.
REIV CEO Enzo Raimondo said that this was the highest increase the Institute had ever recorded and was a clear sign that the residential property market had recovered from the global financial crisis.
“The Melbourne market has been driven by stronger than usual demand from an increasing population, record low interest rates and financial assistance for first home buyers.
“There is no doubt that the most significant factor at the moment is the supply shortage.
