January 31, 2022 | REIV Residential Property Sales Update – December Quarter 2021
The latest data released by the REIV for the December 2021 Quarter, reveals the continuing strong performance of the Victorian property market throughout and recovering from the coronavirus pandemic.
The Metropolitan Melbourne region saw median house prices reach $1,125,000, an increase of 18.9% since December 2020 and 4.2% since September 2021. Unit and apartment prices recorded a median price of $692,000, an increase of 7.1% since December 2020 and 2.4% since September 2021.
Regional Victoria saw median house prices reach $600,500, an increase of 27% since December 2020, and 3.7% since September 2021. Unit and apartment prices recorded a median price of $410,000, an increase of 19.6% since December 2020 and 3.1% since September 2021.
The Inner Melbourne region saw median house prices reach $1,778,500, an increase of 12.9% since December 2020 and 2.3% since September 2021. Unit and apartment prices recorded a median price of $670,500, an increase of 4.8% since December 2020 and 3.7% since September 2021.
The Middle Melbourne region saw median house prices reach $1,254,000, an increase of 18.3% since December 2020, but a decrease of -1.5% since September 2021. Unit and apartment prices recorded a median price of $768,500, an increase of 8.5% since December 2020, and 0.7% since September 2021.
The Outer Melbourne region saw median house prices reach $854,000, an increase of 16.4% since December 2020, and 3.6% since September 2021. Unit and apartment prices recorded a median price of $632,500, an increase of 11.3% since December 2020 and 3.9% since September 2021.
Auctions saw median house prices reach $1,270,000 which is an increase of 14.6% since December 2020 and 3.1% since September 2021. Unit and apartment prices recorded a median price of $801,000, an increase of 9.6% since December 2020 and 2.3% since September 2021.
Private Sales saw median house prices reach $959,000 which was an increase of 9.1% since December 2020 and 5% since September 2021. Unit and apartment prices recorded a median price of $603,500, an increase of 1% since December 2020 and 0.2% since September 2021.
With the ever-changing Covid-19 situation in Melbourne, the team at Beckett are monitoring the latest developments so that we are well informed to help our clients make the best decisions to ensure both personal and financial health. We are continuing to trade during this time and also assist our clients under the Government’s changing health guidelines. We would love to assist you with any property enquiries you may have. You can reach us at [email protected]